NAUgrad Posted July 13, 2010 Share Posted July 13, 2010 I just got to thinking that there was a re-valuation of residential homes just a couple of years ago here in Raleigh. The house I'm currently in had risen in value significantly, (like most of America before the recession). Of course recently, it seems like the value has dropped by about 15% or so. So my current mortgage is based on my interest rate plus my escrow payment each month. If I'm paying too much in taxes, then my monthly payment for my home should be too high. Right? So shouldn't I be able to ask for another re-valuation of my home at current rates, or am i stuck until the next re-valuation comes out. Thoughts? Quote Link to comment Share on other sites More sharing options...
bpwallace49 Posted July 13, 2010 Share Posted July 13, 2010 I think that local gubmnets are facing massive budget shortfalls already, and the assessor wont decrease the value of your house because that means less taxes they get to collect. Doesnt matter what the reality is, of what you can sell your house for . . . the assessor needs to keep that money comin in . . Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted July 13, 2010 Share Posted July 13, 2010 You must file a tax protest letter. They will look at comparable sales in your area and then decide. Not every municipaltiy revalues every year, so you must protest. YOur protest should be upheld if the values of sales are going down. If they don't grant it at first you get an appraiser to do the valuation for you and re-submit and then see them in court. Quote Link to comment Share on other sites More sharing options...
Double Agent Posted July 13, 2010 Share Posted July 13, 2010 I think that local gubmnets are facing massive budget shortfalls already, and the assessor wont decrease the value of your house because that means less taxes they get to collect. Doesnt matter what the reality is, of what you can sell your house for . . . the assessor needs to keep that money comin in . . They do lower the value. I see it all the time. But you have to fight for it. Quote Link to comment Share on other sites More sharing options...
Scooby's Hubby Posted July 13, 2010 Share Posted July 13, 2010 They do lower the value. I see it all the time. But you have to fight for it. yep .... and an appraisal is @$400. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted July 13, 2010 Share Posted July 13, 2010 is it easy to take crack away from a crack addict? pols love tax revenues and they are losing lots of those in this poor economy. i got the value lowered on my taxes, but im sure they will raise the tax rate soon to make up for the lower values. Quote Link to comment Share on other sites More sharing options...
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