Friday, August 3, 2012

Challenging my Property Tax, part 2

If you remember all the way back to August of last year, you might remember this post "i'm challenging my property taxes".

Essentially the County thinks my property tax value went up in 2011 and priced the base at $120,903 because no one bedroom units had sold in my complex and they took the average price of the 2 bedroom units and adjusted the square feet and came up with a slight increase in value.

I was initially going to contest the property value by using some specs from the condos directly adjacent to my complex until I discovered that in March of 2011, one unit identical to mine sold for $115,000.00 in my complex and since March 31st is the end of the cut off for the claim, I'm going to use that property at my hearing for proof of value.

I called the county today to ask a question about my new property tax notice and the clerk gave me a bunch of attitude when she found out that i was contesting my 2011 valuation "for a mere $50..."

I really wanted to give her a piece of my mind for being so judgmental, because to me, $50 is a lot of money, especially with how I plan to use it.

If I take that $50 refund and apply it to my mortgage, I save $150 in interest ... AND they move my property tax value down to $115,000 as a base. Since I know they are increasing my tax value by 2% for this year and I have no good comps in that time frame to refute it, 2% of an increase on $115,000 is less money than a 2% increase on $120,903....

$86.00 less.

So, when you look at the $150 I will save in interest and the $86 I will save on my property taxes this year, that's $236.00 in my pocket and a lower value for life on my unit...

Ya, i'd say that's worth something... and if I knew I could have kept my cool with her on the phone, I might have informed her how big of a spiraling effect $50 could have... but it wasn't worth it.

So cross you fingers and wish me luck for a good hearing with sensible people!


  1. UGH!! There's nothingg worse than condescending people! Even if it was only $5.00, she shouldnt have given you attitude! Hope it all turns out for you! :)

  2. Considering what your property started out as before your remodel, I doubt the "comparable" unit is actually comparable and yours is probably quite a bit more valuable. Furthermore, I personally prefer not to go grasping for straws because I don't want the government to turn their greedy little microscope onto my business looking for something to bite me back on. Again though, that's just me.

    1. Just for the record, the unit in my complex that sold for $115k did what I did to my kitchen (enlarged the kitchen area into the dinning room, new cabinets, granite counters, and new flooring. They just did different colors).

      So it was actually really comparable to price.