37 posts
I bought my home about 6 months ago. It's tax value is 215,000. I purchased the home for 155,000. How can I get the tax value down closer to the purchase price?
I called the tax collectors office and they said there was nothing they or I could do until the next property value assessment which is done every 4 years. Fuck a that. Can they do that? That's fucking stealing legally because it's the government, right?
Isn't their something I could do to get this fixed?
Hook,
Don't know how they do things down there, but all you have to do here is take a copy of Your bill of sale into the auditors office. However, They can also request a copy of the appraisal, If I remember right, you said it appraised for way more then you paid, so that might screw you.
I actually don't know what it appraised for. It's "listed" price was 229,000. I assume it appraised for close to the purchase price. I put a good bit down on it.
So, is the auditor different than the tax collector? I just want to know who to go to war with. ;D I don't see how they can make me pay taxes on a extra $65k. Hell, why don't they just make $500k? It seems like they just don't want this fixed correctly because they will lose income for the city or state. The economy is on a downward trend right now so they extend the assessments out to 4 years. I bet if the economy and home prices started back up again they would change the assessment time to yearly and be glad I called.... if I were dumb enough to do it.
If what they say is true, and I have to wait till they are good and ready to look at property values, that's simply stealing. I don't see how they could do that.
By the way, they have some really stupid fucking people working in the tax department in North Carolina. Even my car tag was a damn battle because it was gifted to me by my father. And do you know.... they consider a car a taxable item like a home in NC. I paid my car tag fee, then later got a personal property tax bill separate from that.
Government is so screwed up it's ridiculous.
Auditors department is the one who determines property values, and sends out tax bills. (How it works here. Should be similar there).
Unfortunately, what you pay doesn't determine the house value... I've been on the other end of this--two notices in the last two years from my local assessor that they were reducing my house value and my tax burden to go with it. We've got Prop 13 rules on property value here, though... pretty backwards of your county to work on a 4-year schedule in these times...
Well, in this economy, a home is worth what someone will pay you for it. Not a penny more. Considering the shape of the home market, and economy, tell me what determines the value of a home..... today. Tell me why the declared tax value of my home is $215k, when I paid $155. So, if my home is worth $215k, what should I do? Simple, sell it and make $60K, right? Hell, I'd do that tomorrow if I could get that kinda money for it.
The house was on the market for 2 years at $229k before they decided to unload the thing and did so at $155k. I'd say the home is worth $155k. I've got proof it's not worth $200k.
In Alabama the Gov. pushed for, and received, authority to evaluate property every year and did so...... until the economy went to shit. It suddenly went away. As long as property is gaining value, they go get the money. But when the economy and home market went to shit, they lose money by continuing to evaluate property for tax funds. Seems kinda obvious to me that the government is just plain shit.
Hookbender — Dec 10, 2011 Tell me why the declared tax value of my home is $215k, when I paid $155.
Simple. It's so the government can get more tax money out of you and give it to some poor soul who'd rather watch TV instead of working. ;) :D
CraigBert — Dec 10, 2011[quote author=Hookbender link=1323384838/0#5 date=1323486349] Tell me why the declared tax value of my home is $215k, when I paid $155.
Simple. It's so the government can get more tax money out of you and give it to some poor soul who'd rather watch TV instead of working. ;) :D
Sad but true
You can't be serious. You really think that's the government's intentions?
You could have paid a buck for the house... your tax is assessed on the value of the property as it evaluated whenever. They have to use the most recent valuation. Go to zillow.com and see what it is showing as being worth on there.
Yep, you could have done a property transfer too, something like your dad bought the house for 10k in 1970, so the last time it sold it was 10k, so why should you pay taxes on some amount it's never sold for?
Hookbender — Dec 11, 2011You can't be serious. You really think that's the government's intentions?
Actually, I was saying that whether or not it's their intentions, it's part of what happens. But lately.... yeah, I think there are some intentions involved. Lets face it. Ubama will get re-elected by all the people who don't want to lose their subsidy! ;)
charger — Dec 12, 2011Yep, you could have done a property transfer too, something like your dad bought the house for 10k in 1970, so the last time it sold it was 10k, so why should you pay taxes on some amount it's never sold for?
Yeah, I get that. But this house has never sold, until now. Period. It was a new construction that was apparently way over priced, or I got a great deal, or some of both.
My point is, the house sold, for the first time, for $155k. Why wouldn't that be the properties true worth?
Would it be legal to build a home, the government value that home at $500k and collect taxes from the builder on that amount until the house sold, and the home be a 1200 sq. ft house on a tiny lot in the country that ended up selling for $70K? Would that be fair to the builder? And what about the buyer? What if the buyer went did some investigating and found that the evaluation was done every 5 years and he'd have to pay taxes on $500k until the next go round? Damn, that kinda shit would help the home market wouldn't it? In my example, the dude would have more of a tax burden than the actual house note. And how do they determine the value anyway? The value on this home was determined during a home market crash unlike any we've had. That kinda says to me we still have a huge problem in the market.
DreamTheaterRules — Dec 12, 2011[quote author=Hookbender link=1323384838/0#9 date=1323626466]You can't be serious. You really think that's the government's intentions?
Actually, I was saying that whether or not it's their intentions, it's part of what happens. But lately.... yeah, I think there are some intentions involved. Lets face it. Ubama will get re-elected by all the people who don't want to lose their subsidy! ;)
Obama is not by far as liberal as you suggest.
BlueCrystalMan — Dec 12, 2011You could have paid a buck for the house... your tax is assessed on the value of the property as it evaluated whenever. They have to use the most recent valuation. Go to zillow.com and see what it is showing as being worth on there.
Doesn't show up there.
DreamTheaterRules — Dec 12, 2011[quote author=Hookbender link=1323384838/0#9 date=1323626466]You can't be serious. You really think that's the government's intentions?
Actually, I was saying that whether or not it's their intentions, it's part of what happens. But lately.... yeah, I think there are some intentions involved. Lets face it. Ubama will get re-elected by all the people who don't want to lose their subsidy! ;)
What subsidy?
Hookbender — Dec 12, 2011[quote author=charger link=1323384838/0#11 date=1323711327]Yep, you could have done a property transfer too, something like your dad bought the house for 10k in 1970, so the last time it sold it was 10k, so why should you pay taxes on some amount it's never sold for?
Yeah, I get that. But this house has never sold, until now. Period. It was a new construction that was apparently way over priced, or I got a great deal, or some of both.
My point is, the house sold, for the first time, for $155k. Why wouldn't that be the properties true worth?
Would it be legal to build a home, the government value that home at $500k and collect taxes from the builder on that amount until the house sold, and the home be a 1200 sq. ft house on a tiny lot in the country that ended up selling for $70K? Would that be fair to the builder? And what about the buyer? What if the buyer went did some investigating and found that the evaluation was done every 5 years and he'd have to pay taxes on $500k until the next go round? Damn, that kinda shit would help the home market wouldn't it? In my example, the dude would have more of a tax burden than the actual house note. And how do they determine the value anyway? The value on this home was determined during a home market crash unlike any we've had. That kinda says to me we still have a huge problem in the market.
If your local government collects property taxes, they need a way to determine those taxes. They aren't assessing homes worth $70k for 500k. They are trying to come close. In your case, it's pretty close, they assess you at within around 50k of what your house is worth. That seems okay to me. What's the actual tax difference? A couple hundred bucks?
charger — Dec 12, 2011[quote author=Hookbender link=1323384838/0#13 date=1323725356][quote author=charger link=1323384838/0#11 date=1323711327]Yep, you could have done a property transfer too, something like your dad bought the house for 10k in 1970, so the last time it sold it was 10k, so why should you pay taxes on some amount it's never sold for?
Yeah, I get that. But this house has never sold, until now. Period. It was a new construction that was apparently way over priced, or I got a great deal, or some of both.
My point is, the house sold, for the first time, for $155k. Why wouldn't that be the properties true worth?
Would it be legal to build a home, the government value that home at $500k and collect taxes from the builder on that amount until the house sold, and the home be a 1200 sq. ft house on a tiny lot in the country that ended up selling for $70K? Would that be fair to the builder? And what about the buyer? What if the buyer went did some investigating and found that the evaluation was done every 5 years and he'd have to pay taxes on $500k until the next go round? Damn, that kinda shit would help the home market wouldn't it? In my example, the dude would have more of a tax burden than the actual house note. And how do they determine the value anyway? The value on this home was determined during a home market crash unlike any we've had. That kinda says to me we still have a huge problem in the market.
If your local government collects property taxes, they need a way to determine those taxes. They aren't assessing homes worth $70k for 500k. They are trying to come close. In your case, it's pretty close, they assess you at within around 50k of what your house is worth. That seems okay to me. What's the actual tax difference? A couple hundred bucks?
That's what I'm getting at. Who or what determines what this house is worth? The list price was $229k. The declared tax value is $215k. The purchase price was $155k. There is a $60K difference in purchase price and the tax price. That's $252.00 difference per year until they decide to get the thing right. I have no desire to give them an extra $252 bucks a year if I don't have to. I guess it's not that big of a deal to some, but I pay out the ass in taxes and don't feel I should have to pay more than my fair share.
House, 2 kids, shit loads of medical bills from mostly kids, cars, insurance, etc. Shit adds up.
I think DTR thinks that Obama, really...democrat presidents, have this big santa bag of money they hand out to people who decide not to work and sit around and drink beer on their front porch.
You always pay what the house is assessed at. What you purchase it for has no bearing. Just assume you got a killer deal, and the house assessed for more. You're talking about $250 a year extra you have to pay, for a house that you saved over $50,000 on.
Too true. I can only imagine the complaining we would hear if you bought the house for $215,000 just to find it was only worth $155,000! ;) ;D
When my most recent house was assessed, the assessor scratched her head over it for a while, and kept telling us it was worth more than the cost (it was a short sale). However, she assessed it at the sale price. Then the city (I guess mine is more proactive than yours) sent us two letters, two years in a row, dropping the assessed value by first 55,000, then 80,000 more. It costs us a lot less in taxes, but if we hadn't had a big down payment, we'd be underwater...
charger — Dec 13, 2011You always pay what the house is assessed at. What you purchase it for has no bearing. Just assume you got a killer deal, and the house assessed for more. You're talking about $250 a year extra you have to pay, for a house that you saved over $50,000 on.
I guess your right. I could easily save $250 bucks a year by simply not drinking beer. ;D
Look at the bright side, Hook... You've already got $50K in equity on that house. Doesn't happen often.
Yeah, I guess your right. I'm making a mountain out of a mole hill. ;D
Hookbender — Dec 13, 2011
I guess your right. I could easily save $250 bucks a year by simply not drinking beer. ;D
You can pay your taxes with beer in your county??? wow, ya'll ARE some rednecks!!! ;D
Apparently, us rednecks are much smarter than some of you yankees. Just an observation. ;D You don't see to many rednecks beating a kid for harming a dog, for example. :D
They only beat kids for good reasons...
You guys need reasons to beat your kids?
I don't even have any kids around to beat anymore. ;D
Mark, you missed that one. There was a video of some teenagers pouring lighter fluid on a dog, then they lit it and watched it burn to death.
I made the remark that the kid needed his ass kicked, and if he did that to my dog I had a Louisville Slugger I'd like to introduce to him. Hook got all bent out of shape saying I was going to kill the kid and stuff. I was never indicating anything like that, just some attitude adjustment therapy. Too me, it's simple. If you torture and kill a domesticated animal, you need your ass kicked. if you do it to mine, I'll gladly do the kicking. Hook took offense to that. Hook thought the kid just needed a talking too to see what his problems were. I think the libs here have ruined him! LMAO
And as usual you didn't get that right either.
First, I didn't inject that you were going to kill anyone to your story.
Second, I didn't get bent out of shape at all.
Third, your going against your own beloved Gods wishes, as it seems all so called Christians do by beating anyone with a bat.
Forth, I was suggesting that the kid may have serious issues, and just didn't do it to be mean. Be kinda nice to get the kid help before you beat the kid with a bat or anything else.
It's just think a tad before you react, ya know. And you don'y have the right to beat anyone for anything, period. You seem to have a redneck mentality on this issue. Step it up a bit, you can do it. :D
BlueCrystalMan — Dec 16, 2011You guys need reasons to beat your kids?
Yeah, just like we do to be racist ya idiot.
come on hook, you know this is all in fun. But keep your hands off my dog, redneck! ;D
Hookbender — Dec 14, 2011Yeah, I guess your right. I'm making a mountain out of a mole hill. ;D
It's only fair. You paid for the mole hill, but are being taxed for the mountain! ;) ;D