Quote:
Originally posted by 928ram
The state in which I currently reside recently change the tax assessment from once every 4 yrs to yearly. For me this is a good thing because although I pay higher taxes this year than last, the assessed value of my home has jumped considerable ( the market value considerably more).
THis whole thing, of course, is all over the TV ads since it's an election year for the Gov's seat,with challenger screaming " He raised your taxes by billions!!"
What I see is that if you assessed value has not changed, or even decreased, it's not costing you a cent more and might even save you a few pennies (prop taxes are low here).
My assessed value increased considerable, but not even close to the increase in market value of our home. Now in the whole financial equation, I feel that the few dollars I have to pay more per year are just dandy because they reflect such a substantial gain in net worth.
Am I seeing this wrong? Real estate is still very reasonable here and by no means overvalued. Are those complaining about the change just not looking at the big picture?
What do you guys think?
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Accessed value is in inflated dollars, which aren't real money since they're not back by hard money. The only true value of a home is it's value in gold, which is real money. Most home values haven't changed their real value since about 1930. Yes, that includes homes built recently.
Property tax reevaluations are a government rip-off.