when does tax ever go down
when does tax ever go down
Only after they've successfully evicted everyone and sold them at a fire sale to a jew.
Only after they've successfully evicted everyone and sold them at a fire sale to a jew.
Technically they can go down. Property taxes declined in California back in 2009-2010 when the bubble popped. Then valuations went up a few years later by a lot (more than 2%) when buying homes came back in style. Los Angeles county(?) wanted to capture the full valuation increase, arguing that the 3-4% increase would only bring it back to where it was before the recession. Taxes are only supposed to go up by 2% annually by law. A judge ruled in favor of the full increase.
The other weird prop tax story was some mid west county/city making a valuation mistake, something like $10,000,000 million instead of $100,000 on a parcel. The mistake was found after the county had already factored in the mistake into the budget; no one questioned the big increase in expected tax payments. Rather than cut spending the municipality just raised everyone's property taxes.
Technically they can go down. Property taxes declined in California back in 2009-2010 when the bubble popped. Then valuations went up a few years later by a lot (more than 2%) when buying homes came back in style. Los Angeles county(?) wanted to capture the full valuation increase, arguing that the 3-4% increase would only bring it back to where it was before the recession. Taxes are only supposed to go up by 2% annually by law. A judge ruled in favor of the full increase.
The other weird prop tax story was some mid west county/city making a valuation mistake, something like $10,000,000 million instead of $100,000 on a parcel. The mistake was found after the county had already factored in the mistake into the budget; no one questioned the big increase in expected tax payments. Rather than cut spending the municipality just raised everyone's property taxes.
I would think they would, unless the levy is increased as the house's value goes down. NJ did this to spectacularly disastrous results
I would think they would, unless the levy is increased as the house's value goes down. NJ did this to spectacularly disastrous results
Yes its based on home value when value lowers so does the tax rate.
Yes its based on home value when value lowers so does the tax rate.
Not really. Taxes are calculated based on property values and a multiplier which can change on an annual basis. When property values go down they just change the multiplier
Not really. Taxes are calculated based on property values and a multiplier which can change on an annual basis. When property values go down they just change the multiplier
And those properties values are over inflated by mortgage loans, not capital or cash purchases. In other words, remove cheap loans available to anyone with a heart beat, and real price discovery is significantly lower as is the resulting tax. It's a racket. Fiat currency is slavery.
And those properties values are over inflated by mortgage loans, not capital or cash purchases.
In other words, remove cheap loans available to anyone with a heart beat, and real price discovery is significantly lower as is the resulting tax.
It's a racket.
Fiat currency is slavery.
Agreed
Agreed
Technicality - no, the tax "rate" doesn't goes down, unless the town/county/state lowers the tax rate.
But what I think you are saying is true - when the value of your home goes down, the taxes that you pay on it also goes down.
Technicality - no, the tax "rate" doesn't goes down, unless the town/county/state lowers the tax rate.
But what I think you are saying is true - when the value of your home goes down, the taxes that you pay on it also goes down.
If you look in some areas that have had high property price rises you will also see that the tax appraisal value did not go up with the "zillow price". If you buy a house for that high price then i think it would snap to that.
There are also some rules that grandfather people into rates, i also think there might be some like rent control (where the tax price is controlled, not the rate).
If you look in some areas that have had high property price rises you will also see that the tax appraisal value did not go up with the "zillow price". If you buy a house for that high price then i think it would snap to that.
There are also some rules that grandfather people into rates, i also think there might be some like rent control (where the tax price is controlled, not the rate).
Yes, at least where I live.
Yes, at least where I live.
ok here's the abridged version... property tax is assessed by several different sources of data, property values typically go up about 3-4% annually, as a result property taxes go up. However, here's one example of how they might go down: Let's say you buy a POS house in the ghetto that's been abandoned with holes in the roof for $30k but the assessment says it's value is $150k bc the property was never reassessed by the previous owner. You can request a reassessment to determine a new taxable value of the house. In a case like this the property taxes will be lowered unless you're in a small corrupt town or a city ran by a bunch of niggers and you happen to be White.
One caveat to consider is when you draw attention to the property the cocksuckers may start issuing you violations which is why investors need to be careful especially if they plan on flipping it in less than a year or two.
If you're living in it you also need to be careful they don't raise the tax on you if you request the tax collector jew to reassess it. If anyone has any questions feel free to ask.
ok here's the abridged version... property tax is assessed by several different sources of data, property values typically go up about 3-4% annually, as a result property taxes go up. However, here's one example of how they might go down: Let's say you buy a POS house in the ghetto that's been abandoned with holes in the roof for $30k but the assessment says it's value is $150k bc the property was never reassessed by the previous owner. You can request a reassessment to determine a new taxable value of the house. In a case like this the property taxes will be lowered unless you're in a small corrupt town or a city ran by a bunch of niggers and you happen to be White.
One caveat to consider is when you draw attention to the property the cocksuckers may start issuing you violations which is why investors need to be careful especially if they plan on flipping it in less than a year or two.
If you're living in it you also need to be careful they don't raise the tax on you if you request the tax collector jew to reassess it. If anyone has any questions feel free to ask.
Almost never. Get back to work slave.
Almost never. Get back to work slave.
Where I live it does
Where I live it does
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