assessment shock

We've just received our real estate tax assessment this year. The assessed value of our house rose 33%! This would be great if we were looking to sell... Some houses on our block had their assessments go up 200+%. One property went from $36k to $112k -- and it's a boarding house as far as we can tell.

Posted by john m at March 2, 2005 3:45 PM

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Ouch - that's terrible for the short term (paying taxes and whatnot) - what a huge jump! But it does mean that you'll get a "higher class" of neighbors as new people move in to the area, right? So in the long run it could work out well. I feel for you though, that's a tough hit to take when you're already knee deep in renovation costs. Hope it works out for you guys! ~Mindy

Posted by: mindy at March 2, 2005 4:54 PM

Of course if, like me, you need to take a loan out against your equity to finance improvements, this is really good!

Posted by: Nathan at March 3, 2005 1:15 PM

They most likely came by while our house while it was still naked from stucco removal but ours jumped 85% and our neighbor 125%.

Posted by: Steve at March 4, 2005 11:45 AM

March 2, 2005

assessment shock

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