Property tax?

[fltoddy]

Maybe I haven't been paying enough attention to the news, but I thought the property tax amendment was only supposed to lower taxes by an average of $200 per household? My house appraised in the high $200's and my property tax notice showed a decrease of a little over $1,000. From $4,500 to $3,400.

Has anyone else seen a similar decrease? If everyone's taxes are going down that much it would seem that the budget shortfall will be much worse than anticipated.

[The Nitely Blog]

Maybe I haven't been paying enough attention to the news, but I thought the property tax amendment was only supposed to lower taxes by an average of $200 per household? My house appraised in the high $200's and my property tax notice showed a decrease of a little over $1,000. From $4,500 to $3,400.

Has anyone else seen a similar decrease? If everyone's taxes are going down that much it would seem that the budget shortfall will be much worse than anticipated.

Glad to hear your tax bill went down my friend as mine went up. Yeah, that's right, IT WENT UP!! I have lived in the same residence for a very, very, very long time. Long before the building boom and county authorized urban sprawl took over my area. Back in the long distant age of when tax bills and insurance cost were reasonable. Around the beginning of this year I took out a mortgage on my residence for about half of what it was worth leaving me with plenty of equity still in my home. I took out the mortgage to do some needed (roof, plumbing, wiring) as well as desired improvements (new kitchen & bath) to my home as well as purchasing another vacation / retirement residence outside of the state of Florida. My assessed value this tax year went down but my appraised value went up due to my refinancing. This caused my tax bill to increase an additional $900 for the year even with the increased exemption from 25 to 50 thousand.

So don't sweat it fltoddy, I gotcha covered. The thousand your saving is being paid by me. :wink: :cry: :cry:

[fltoddy]

Maybe I haven't been paying enough attention to the news, but I thought the property tax amendment was only supposed to lower taxes by an average of $200 per household? My house appraised in the high $200's and my property tax notice showed a decrease of a little over $1,000. From $4,500 to $3,400.

Has anyone else seen a similar decrease? If everyone's taxes are going down that much it would seem that the budget shortfall will be much worse than anticipated.

Glad to hear your tax bill went down my friend as mine went up. Yeah, that's right, IT WENT UP!! I have lived in the same residence for a very, very, very long time. Long before the building boom and county authorized urban sprawl took over my area. Back in the long distant age of when tax bills and insurance cost were reasonable. Around the beginning of this year I took out a mortgage on my residence for about half of what it was worth leaving me with plenty of equity still in my home. I took out the mortgage to do some needed (roof, plumbing, wiring) as well as desired improvements (new kitchen & bath) to my home as well as purchasing another vacation / retirement residence outside of the state of Florida. My assessed value this tax year went down but my appraised value went up due to my refinancing. This caused my tax bill to increase an additional $900 for the year even with the increased exemption from 25 to 50 thousand.

So don't sweat it fltoddy, I gotcha covered. The thousand your saving is being paid by me. :wink: :cry: :cry:

Ouch. Sorry about that. If it helps any, I bought my house for $271k in 2006 and a realtor told me a few months ago I might be able to get $190k for it.

Trade ya?

Don't count your cash yet, your trim notice just includes you property taxes, it does not include all the other fees that are added to your tax bill by the county such as street lighting, trash pick up, and other mandatory fees collected through the property tax office. These fees usually range between $700 to $800.00 and will appear on your tax bill, not your trim notice. If your tax bill dropped a $1,000.00 then your property value must have tanked. If you look at your trim notice, there is a column that has your last year property taxes, then the next row is this years proposed. That difference is your drop on the poperty tax portion of your tax bill. If its more than a $200.00 you are extreemly lucky, mine was $125.00.

My assessed value this tax year went down but my appraised value went up due to my refinancing

Refinancing will not change your tax bill. what ever you originally bought it for applies, not the refinancing. If you have a homestead exemption your tax bill can only increase 3% a year. So if your tax bill went up $900.00 on top of the tax reductions and doubling of the homestead exemption you should contact the property appraiser, because something is wrong.

The property tax issue was to help those that had purchased a home in the last few years.

I have been in my home now for 11 years. the value went from 331K to 307K since the last assessment. However because they can raise the amount of my home's value it was raised from 194K to 200K. Bottom line is even with the additional 25K this year for homestead, my taxes will fall $140 if the proposed budget change is passed. If it is not passed my tax bill only falls $19. Thus those of us that were paying what some thought were cheap taxes will still pay about the same.

Thus I say vote "YES" for any and all reductions. It is about time we learn to live within a tighter budget like many of us do at home.

[The Nitely Blog]

My assessed value this tax year went down but my appraised value went up due to my refinancing

Refinancing will not change your tax bill. what ever you originally bought it for applies, not the refinancing. If you have a homestead exemption your tax bill can only increase 3% a year. So if your tax bill went up $900.00 on top of the tax reductions and doubling of the homestead exemption you should contact the property appraiser, because something is wrong.

Your point may be true my friend, I don't know. But you can bet I already planned on contacting the tax appraiser's office about the increase long before this thread started. Sittin here lookin at my trim notice I see where my market value dropped by $4,000 but my assessed value rose by $48,000 bucks. With my taxable value increasing $23,000 bucks after the increased exemption to $50.000. The new assessed value that is listed on the trim notice is exactly the amount that I refinanced for earlier this year. Riddle me that my man.

[The Nitely Blog]

Don't count your cash yet, your trim notice just includes you property taxes, it does not include all the other fees that are added to your tax bill by the county such as street lighting, trash pick up, and other mandatory fees collected through the property tax office. These fees usually range between $700 to $800.00 and will appear on your tax bill, not your trim notice. If your tax bill dropped a $1,000.00 then your property value must have tanked. If you look at your trim notice, there is a column that has your last year property taxes, then the next row is this years proposed. That difference is your drop on the poperty tax portion of your tax bill. If its more than a $200.00 you are extreemly lucky, mine was $125.00.

Crap, your right!! Sittin here lookin at my trim notice none of those charges are listed on here. I guess that means I got a couple thousand dollars extra covered for fltoddy.

[The Nitely Blog]

Maybe I haven't been paying enough attention to the news, but I thought the property tax amendment was only supposed to lower taxes by an average of $200 per household? My house appraised in the high $200's and my property tax notice showed a decrease of a little over $1,000. From $4,500 to $3,400.

Has anyone else seen a similar decrease? If everyone's taxes are going down that much it would seem that the budget shortfall will be much worse than anticipated.

Glad to hear your tax bill went down my friend as mine went up. Yeah, that's right, IT WENT UP!! I have lived in the same residence for a very, very, very long time. Long before the building boom and county authorized urban sprawl took over my area. Back in the long distant age of when tax bills and insurance cost were reasonable. Around the beginning of this year I took out a mortgage on my residence for about half of what it was worth leaving me with plenty of equity still in my home. I took out the mortgage to do some needed (roof, plumbing, wiring) as well as desired improvements (new kitchen & bath) to my home as well as purchasing another vacation / retirement residence outside of the state of Florida. My assessed value this tax year went down but my appraised value went up due to my refinancing. This caused my tax bill to increase an additional $900 for the year even with the increased exemption from 25 to 50 thousand.

So don't sweat it fltoddy, I gotcha covered. The thousand your saving is being paid by me. :wink: :cry: :cry:

Ouch. Sorry about that. If it helps any, I bought my house for $271k in 2006 and a realtor told me a few months ago I might be able to get $190k for it.

Trade ya?

Thanks for the trade offer my friend but I am going to have to pass. You see I would be willing to bet that my mortgage payment is still less than the vast majority of people out there. I also have a fairly good size piece of property that's not in a sub-division. That means no obnoxious neighbors whose house is three feet from mine. No pesky HOA dwebs to deal with and no POA fee's to pay. No restrictions on what I do in my own yard. I'm my own homeowners association president. :wink: If I wanna display a flag I do it. If I wanna park my boat in the driveway I do it. If I wanna paint my house pink with purple pokey dots I could do it. :lol:

Blog, the problem you have is the same as I have. The value dropped, but did not drop below the value. Thus they can still raise the value by 3% or 4% as the new value is still below the fair market value. Not much you can do.