"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....
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!