1,848,051
Could have been assessed incorrectly in the 1st place. Ours is redone every 4 years & usually that means the value is declining. Many people were upset when the real value wasn't even close to the tax value a few years ago & literally they were being overtaxed.
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Bob Betel
Sweetwater, TN
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Debe Maxwell, CRS
Charlotte, NC
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Inna Ivchenko
Encino, CA
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Nina Hollander, Broker
Charlotte, NC
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Ron and Alexandra Seigel
Carpinteria, CA
3,988,013
That maybe the assessor really took a look at the property instead of using a blanket increase approach for the entire area.
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Roy Kelley
Gaithersburg, MD
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Bob Betel
Sweetwater, TN
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Fred Griffin Florida R...
Tallahassee, FL
5,117,828
Are you talking about properties taxes? If so, it tells me taxes will be lower. It might not mean anything else at all depending on a specific jurisdiction and how they determine property values.
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Bob Betel
Sweetwater, TN
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Inna Ivchenko
Encino, CA
1,729,017
The municipality doesn't need any new funds
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Fred Griffin Florida R...
Tallahassee, FL
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Ron and Alexandra Seigel
Carpinteria, CA
1,242,204
happened here two years in 40 years.... Sell sell sell,
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Inna Ivchenko
Encino, CA
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Ron and Alexandra Seigel
Carpinteria, CA
1,458,769
I'm seeing this in our town. Prices were inflated and the new assessments are now showing a more realistic value.
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Ron and Alexandra Seigel
Carpinteria, CA
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Susan Emo
Kingston, ON
4,272,984
It is rare but new assessors sometimes take a different approach...
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Ron and Alexandra Seigel
Carpinteria, CA
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Lyn Sims
Schaumburg, IL
1,625,746
If property tax bills are based on current real estate values in your area, expect differences in your bill from year to year. Tax authorities can increase your bill by increasing the assessed value of your property and/or by increasing the tax rate. Likewise, they can lower your bill by decreasing the assessed value of your property and/or by decreasing the tax rate.
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Inna Ivchenko
Encino, CA
2,222,281
You have many great responsed here.
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Anthony Acosta - ALLAT...
Atlanta, GA
809,258
Assessor may have felt it was incorrectly valued in the first place and is correcting it. In our area a homeowner can contest the assessed value and in some cases the assessor agrees to lower it, so that could be a possibility too. The assessors here usually are behind the market so I wouldn't see it as an indication where the market is going.
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Fred Griffin Florida R...
Tallahassee, FL
717,185
Sounds like your market is in flux and perhaps entering a downturn.
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Fred Griffin Florida R...
Tallahassee, FL
5,879,946
4,969,061
7,872,843
292,685
Assessed value and market value are inter-related and are taxed based on their assessed values. If people feel they are paying too much in taxes they appeal and reduce their assessed value based on resent sales comps which then equates to current market value .
4,800,132
It may mean that values are decreasing, but there are other possibilities as well.
902,658
Maybe the particular property is getting older or more decrepit, especially vis a vis most other properties in town.
3,071,589
1,507,223
4,319,873
5,259,152
As Lyn Sims said - this happened here during the recession as well and many fought to have their values reduced.
3,986,308
2,684,769
In Florida, the assessment might have been challenged, by an appeal to the County's Value Adjustment Board. If the property owner prevails, the assessed value could be decreased.
4,434,177
6,426,360
1,712,876
2,785,756
5,036,388
I feel it reflects the market increasing or decreasing from a year or two years ago..always trying to catch up.
5,773,392
5,583,328
1,157,791
3,350,914
Do you mean across the board in your state/county or with a few select properties?