Not to mention that they will find a few permits that you have probably neglected to purchase.
Homeowner's Property Value
- Thread starter cycloner29
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Not to mention that they will find a few permits that you have probably neglected to purchase.
It may not go directly to the state of Iowa, but it doesn't go to another state, right? It funds local maintenance and other various programs. The programs and maintenance it does pay for will probably need more or less funding from the state and fed based on property tax, correct?
Property taxes fund: county/city government, school districts, your ag council, county hospital, community colleges, your local assessor office and some other odds and ends.
The only things jointly funded by the state and property taxes are schools and community colleges.
Statewide, the increase in your taxable value is limited to 3%. They were going to get 3% any way as residential taxable value is rolled back to 59% anyway.
The only things jointly funded by the state and property taxes are schools and community colleges.
Statewide, the increase in your taxable value is limited to 3%. They were going to get 3% any way as residential taxable value is rolled back to 59% anyway.
No, it doesn't cost anything for the city or county assessor to come to your house. The appraisal cost is if you wanted to refinance with your bank.
Anybody have experience fighting this type of increase? We just purchased a home last year and it went up 20% from last year. However, it still 12% lower than we paid for it.
I'm in the same boat. Just bought a house last July, and ours went up almost 20% as well, now valued over 10k more than we paid for it. wtf.
Sorry, you have no reason to complain. Residential values are based on market value. Sounds like yours needed to increase.Anybody have experience fighting this type of increase? We just purchased a home last year and it went up 20% from last year. However, it still 12% lower than we paid for it.
Anybody have experience fighting this type of increase? We just purchased a home last year and it went up 20% from last year. However, it still 12% lower than we paid for it.
So, you either got a great deal or your house is still under-assessed and you should expect another increase next year.
Real estate noobie here, but I've owned my home for almost 3 years now and this is the first time this has happened to me (went up about 6% this week) and I'm trying to figure out what this means.
Is this is a bad thing for most homeowners just because property taxes go up? My initial thought was it might be a positive because the market value would be higher when we decide to sell, but does this essentially get offset by the extra taxes you will pay?
Is this is a bad thing for most homeowners just because property taxes go up? My initial thought was it might be a positive because the market value would be higher when we decide to sell, but does this essentially get offset by the extra taxes you will pay?
Ours went up about 6% (in Johnston) to ~$178,000, but identical houses on my street are selling for $210,000 minimum.
Part of that discrepancy appears to be that Polk county doesn't know our basement is finished. I don't have any sort of legal obligation to tell them that the previous owner had it finished, do I?
Part of that discrepancy appears to be that Polk county doesn't know our basement is finished. I don't have any sort of legal obligation to tell them that the previous owner had it finished, do I?
Ours went up $37,000 this year! It is now $25,000 more than what I paid for it 2 1/2 years ago. None of my neighbors went up more than $2,000 so not sure what the deal is.
I must have missed where my taxes went down after 2008.
How did the appraisal when you bought the house not account for the finished basement?
I'm sure it did. Real estate appraisals and real estate assessments are not the same thing.
The multi-family assessment rollback is more likely. Farmers already get a big break on land taxes. Those communities like Ames are going to be hardest hit because of how many large apartment buildings they have.