Monday, November 17, 2014

Property Tax Increase

We got our annual notice of property taxes for the 2014-2015 year. Apparently our condo is valued on a tax basis at $126,358.00... Last year, we were valued at $116,321.00.

 An increase of $10,037.00 worth of taxable value... which means our payment every 6 months will be $669.66 instead of $611.80.

 Here's a snap shot of our bill from last year:

And a snap shot for this year:

The water district increased their rate fee substantially, 307% increase... but the school district reduced theirs so we are paying roughly the same amount with the higher value considered.

In total, we are looking at a 9.45% increase in our property tax bill. Monthly it comes out to an extra $9.65, or an extra $115.72 a year.

Even with proposition 13, our home value increased 8.62%. This is most likely because we had it lowered in the past when the housing market went down and with the market increasing property values, the taxes get to catch back up too unfortunately.

No comments:

Post a Comment