taxes reassessed?

yogitea01 · November 2011

Hi Ladies-

DH and I are closing on a home today. it was listed for 99,900, and we purchased it for 94,000 with seller paying closing costs. It was last assessed in 2010 for 135,200. We had an appraisal done and it came back at 103,000. The taxes are currently $3,373.

Have any of you had success having your property taxes re-assessed?

lil_jen051708 · November 2011

I havent yet. Our assessment is about $50k higher than we paid so when we get our property tax bill next spring we will file to lower them. I've heard it's a pretty simple thing if you just bought and they can use the sale price. We can't do anything until the bills come out though and we had the seller give us a credit for the fall 2011 taxes so we haven't really paid them out of our pocket yet.

twinsmom23 · November 2011

Yes, should be very easy for you. Just fill out an application and include your HUD that you receive at closing. Should be able to get for the $94k - closing.

Labbie · November 2011

Our sale price (2011 purchase) was 40K less than assessment. The assessed value in our town is based on the 2010 value, so we did go through the protest process, which you can only do at certain times of the year (DH had to go up in front of a board and kill about 50 trees in paperwork to provide the board) as soon as we moved in, and they lowered it by 18K.

Darn straight we're going back next year to fight for the rest of it. Our property tax rates are horrid in my county, and it burns me that if we would've paid MORE they would raise the assessment no questions asked but yet if we pay less we have to jump through 10,000 hoops. Oh well, we will do it.

katharine25 · December 2011

We bought our home for 1/3 of its assessed value last year since it was a foreclosure. When we got our 2011 tax bill, it had only been adjusted by general market trends. I went to assesses office to grier with pictures ( at the assessed date, it was just a shell) and he reduced it to purchase price, no questions asked I have an odd case, but just saying tax man was actually really a nice guy. I just got my escrow check his week $$$$$ Not sure I'll be saying this next year though....

It never hurts to grieve, an your best bet of success is right after purchase. Especially if you have bank assessment and purchased it at arms length

bostongirl1983 · December 2011

Yes, when we bought our home the assessors came to us and took a look around. They had our house listed as having two kitchens (one in the basement) which we do not have. That saved us a ton on the new assessment. You should be able to call the assessors office in your town and ask them what their process is on re-assessing.

taxes reassessed?

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