Are The Property Assessments Realistic?????
I have spoken with several dozen people about their new property assessment and not a single person I have spoken with has seen a decrease in their assessment.
While some property owners have seen their tax liability go down some that is the result of the state mandated reduction in the tax rate.
Here is a couple of interesting things about the current tax rate that some may not know. It is controlled by the County Executive and the Commissioner. They can raise or lower it as they choose. The legislative Body of the county even has authority for the state to freeze taxes paid by certain citizens as in the senior tax freeze that the county refused to adopt.
The other thing, which is less well known but I suspect will soon become a much discussed issue, is the authority to apply to the state as a "hardship" case and seek an exception to the rule and be allowed to raise property taxes even in this reassessment year.
The questions every property owner needs to ask themselves is, can I sell my property for the assessed price; have I made significant improvements to my property to justify this increase; based on the criteria used to assess the property is this increase justified; would a bank or other lending institution actually lend me the money to buy this property at this price? When I looked at my property the answer to each of those questions was a very clear, no.
When I looked up every piece of property in my neighborhood not one single property had maintained the same value it had in 2005, every piece of property in my neighborhood had fallen in value. When I looked up various properties around the county every piece of property had lost value since 2005. The tax assessor is on record as saying, that there was a lot of property that was undervalued in the past and my question to him is whose fault is that. Should citizens pay a penalty because the tax assessor didn't do his job properly?
I will be going before the Equalization Board and I urge everyone else to get an appointment and challenge these unrealistic assessments.
The thing to keep in mind is while your tax bill may have gone down a bit this year the stage is being set for a big increase next year if not sooner.
While some property owners have seen their tax liability go down some that is the result of the state mandated reduction in the tax rate.
Here is a couple of interesting things about the current tax rate that some may not know. It is controlled by the County Executive and the Commissioner. They can raise or lower it as they choose. The legislative Body of the county even has authority for the state to freeze taxes paid by certain citizens as in the senior tax freeze that the county refused to adopt.
The other thing, which is less well known but I suspect will soon become a much discussed issue, is the authority to apply to the state as a "hardship" case and seek an exception to the rule and be allowed to raise property taxes even in this reassessment year.
The questions every property owner needs to ask themselves is, can I sell my property for the assessed price; have I made significant improvements to my property to justify this increase; based on the criteria used to assess the property is this increase justified; would a bank or other lending institution actually lend me the money to buy this property at this price? When I looked at my property the answer to each of those questions was a very clear, no.
When I looked up every piece of property in my neighborhood not one single property had maintained the same value it had in 2005, every piece of property in my neighborhood had fallen in value. When I looked up various properties around the county every piece of property had lost value since 2005. The tax assessor is on record as saying, that there was a lot of property that was undervalued in the past and my question to him is whose fault is that. Should citizens pay a penalty because the tax assessor didn't do his job properly?
I will be going before the Equalization Board and I urge everyone else to get an appointment and challenge these unrealistic assessments.
The thing to keep in mind is while your tax bill may have gone down a bit this year the stage is being set for a big increase next year if not sooner.