Taxes

[deerman]

Here in Ohio, most all home worths have falling, all over the news.

Guess what they just raised the property tax here by 10 % even with over 33% of people losing their jobs here in Wilmington Ohio(just reported on 60 min.)

No way are the homes here worth more, except for property tax!!!!!!!!!

 

[what was i thinking]

oops, i got something started.... my taxes went up 8% for county and i think school is like 20%. my $7000 in taxes if for a value on my house 30,000 less than market value....
sorry to hear about your taxes. it just stinks.

 

[Mahonri]

...

 

[what was i thinking]

i am very scared of what is going to happen.... i don't know how much more people can go in the whole.

 

[valmom]

Someone has to pay for all the running of the government- and those of us who still have jobs are going to be footing the bill. Federally and locally. Our school census has dropped over the past few years. So why do my property taxes keep increasing and the school spending is still increasing (and we can't POSSIBLY cut school funding- that would mean we don't love our kids)

And don't even get me started on who is going to pay for all these stimulus packages.

 

[Rosalind]

You can fuss for a re-assessment of the property value. It's a real pain in the butt though, and it cuts both ways when you go to sell again, because you have to get the thing re-assessed *again* to sell for much more. Otherwise your buyer's bank is going to make a big stink about how a property originally assessed at $(low price) can sell for $(lots higher). But if you plan to be there several years, for sure, see if you can get it re-assessed.

 

[cparian]

Like Rosalind said I would have it reassessed. I don't know if Clinton County is anything like Hamilton County but Hamilton only opens it up for protest once every other year during a certain time of the year. From my experience in Ohio even if you get your taxes lower but sell your house for a much higher amount, the banks don't give you a problem. It kinda expected around here. There are appraisers now that will attest the taxes for you. They will collect the proof & attend the hearing for you. They only collect a fee if they get the taxes lowered & it's a percent of what they saved you for that year only. I just did it this past year & got my tax value lowered by $187,000.

I'm not sure if the guy I used works in Clinton County but if you want his information PM me & I'll dig it out & give it to you.

 

[mom'sfolly]

School costs remain the same even if the value of you home drops. Our property taxes have been subsidised by sales taxes from Dell, and as the economy worsens, I expect my tax rate to rise. Fewer sales taxes, growing school district with portables at every school and home values falling will make my tax rate will increase. Its just the way it is, do I like it, no, but I understand why it works this way.

 

[OPIE]

The local governements are broke and Big Brother is gettin there. Of cours taxes are going up, to cover there worthless spending habits and fine living. The police are even writting more tickets and the fines are going up there also. They are getting money fron everyone they can, anyway they can. My taxes went up also and for what? Not a darn thing.

 

[Mac in Wisco]

Market value and tax assessment are two different things, although closely related. Tax assessment should stay fairly consistent, taking into account inflation, but isolated from short term fluctuations in the market. It is supposed to represent more of a "true value" of the property and not necessarily what your house would sell for on any given day.

The banks really don't care about the tax assessment when they are lending money. A real estate appraiser would be hired to appraise the property.