[Subscribe to Daily Digest] |
[Main General Bulletin Board | BBFAQ |
Prev by Date | Next by Date | Post Followup ]
Member Login / Signup - Members see fewer ads. - Latest Member Gallery Photos
Give a call to your town hall.. Posted by Sondeen [Email] (#796) [Profile/Gallery] (more from Sondeen) on Fri, 27 Feb 2015 12:58:40 In Reply to: Understanding property taxes...., GFW3pedals [Profile/Gallery] , Fri, 27 Feb 2015 07:03:56 Members do not see ads below this line. - Help Keep This Site Online - Signup |
Your tax assesment office should be able to explain this better than I.
My town recently did reassessments (prior was ~20 yrs prior) and rate adjustments, with a multi year phase in. What they did is that as assessed value was increased, the tax rate decreased, so that the net effect of tax owed did not increase (too much). Most properties owners did see a modest net tax increase because the town had make up for projected budget shortfalls in coming years. In CT, where I live, the state recently passes a law that said towns must reasses every 10 years, to avoid the situation where values are kept on the books for year after year, decade after decade. Towns don't like to reasses because it costs them money to pay people to do the work. It however can be unfair to property owners as values in one part of town may not rise and fall the same as properties in other parts of a town.
In your case, it seems like you town did not want to incur the cost to reasses values, so the old out of date value was just kept on the books year after year. Instead they likely just put a fixed % factor on all the home values to bump them up enough to get the required tax revenue to fund the town budget. Now they have made a big correction to values through re-assesment, and you perhaps made out with a lower bill while others in your town likely got a higher bill.
No Site Registration is Required to Post - Site Membership is optional (Member Features List), but helps to keep the site online
for all Saabers. If the site helps you, please consider helping the site by becoming a member.