2011 Home Assessment
- Thread starter dmclone
- Start date
Our home went down, our rental house went up. Doesn't make a whole lot of sense, but who knows? They usually just raise the rates to make up for the decrease in value anyway.
Assessed values are a giant FUBAR and anyone involved will admit it off the record, if you get them liquored up enough anyway. Always laugh at people selling their house and referencing "assessed value" when it suits them (in other words, when their house is assessed too high). Has nothing to do with market value. Might be in the ballpark, but just as likely it's way off high or way off low. The assessors' task has nothing to do with accurately valuing property. They just need all the values, when factored by the levy, to reach a certain amount that covers the tax revenue need.
Agree, but your property taxes are based off assessed value, not market value, and most in Polk County should be going down this round, which means cheaper property taxes
Ours went down about 4.5% (Ankeny)
FYI: It's good because your property tax is based on your assessed value.
FYI: It's good because your property tax is based on your assessed value.
Again, assessed value has nothing to do with the actual market value of your house; assessed value is used solely for figuring out how much you pay in property taxes.
I just closed on my house last Friday, and got notice it went up 6,000 in Ankeny. What a nice housewarming gift from Polk County!
Agree, but your property taxes are based off assessed value, not market value, and most in Polk County should be going down this round, which means cheaper property taxes
Yeah, I kind of went off on a related tangent there. :smile:
We just purchased a house in Johnson County, Kansas... The new appraised value for our home went down $23,000!! It has sat empty (bank-owned) for the last two years though...
The assessed value is only used to determine how much property tax you pay. It isn't a gauge of what your house is worth (even though some people think it is). Your house's market value is determined by comparable sales and has nothing to do with assessed values.
My house in WDM went down 2.9%, rental property near Drake went up 3%...doesn't make sense to me but oh well.
In theory that's what assessed values are supposed to be based on too (as of Jan1 comps).. if your assessed value is not in line with that, you should protest if it is above what comparable sales would say it is.
This is the first time I actually wasn't happy to see it go down since I am thinking of trying to sell soon. My Beaverdale home went down by $6000.
In the past I had protested it twice because I feel I am assessed way too high for my neighborhood. There is a home nearly identical to mine (exact same floor plan and nearly same size lot) right across the street that is assessed $15,000 lower than mine and several homes that have sold in recent years for more than mine is assessed at yet they all are assessed as much as $20,000 lower than mine for some reason. The city would never give me an explanation on the descrepancies despite all the data I provide them with comparable properties and recent sales when I would protest my assessment, the only thing I can think of is that it has been sold several times, sale years of 1987, 1990, 1996, 2002, then in 2004 when I bought it.
In the past I had protested it twice because I feel I am assessed way too high for my neighborhood. There is a home nearly identical to mine (exact same floor plan and nearly same size lot) right across the street that is assessed $15,000 lower than mine and several homes that have sold in recent years for more than mine is assessed at yet they all are assessed as much as $20,000 lower than mine for some reason. The city would never give me an explanation on the descrepancies despite all the data I provide them with comparable properties and recent sales when I would protest my assessment, the only thing I can think of is that it has been sold several times, sale years of 1987, 1990, 1996, 2002, then in 2004 when I bought it.
Did it do you any good to protest it/ My mom's house keeps goping up each year and I am thinking of protesting it for her.
dido. It going down = less property taxes.
However, I don't fully agree that assessed values going down won't affect sales price. Banks do look at the assessed values as a measuring stick to determine how much they are willing to put into it. They want the asking as close to the assessed value as possible. The bigger of a down payment that the buyer has the more flexibility regarding this. Hence, normally assessed values influence low income home buyers more than the upper middle class.
Anyone successfully protested it? I have a rental property that was appraised in December 2010 for about $10,000 less than the assessed value. I would think that this would be good ammo for the protest but have never heard of someone protesting their assessment.
