The higher the assessed value, the higher the property taxes. Exactly what the taxes will be, however, depends on the existing tax rate.
It may not have an effect at all. The county assessor's office has to assess the value of the property for taxes to be calculated. The higher the value, the more taxes you pay. I bought my house on the Oregon coast for $79,000 12 years ago, but I pay a lower tax rate because the assessed value is $55,000. When a private or bank assessor determines the market value of a house, that does not mean your taxes go up (or down), it just means that you could sell it for that if you put it on the market.
Many people are now buying houses at an incredibly reduced price. But be warned, the taxes are based on whatever the value was when the county assessors office last did assessments. If you have purchased a home recently, you could get stuck with higher taxes than the current market value of the home. In some cases, people are buying homes for $250,000 less than the homes value a year ago. Regardless of what they paid, they still have to pay whatever the assessors office has assessed the house at.
by Donna Cosmato 6 years ago
How will I know what the property taxes will be on my new home?
by My Esoteric 5 months ago
In other forums, Seattle's "head tax" was brought up as gov't overreach to willie-nillie tax those who can pay it. (I am still thinking about it.) But the Seattle city council had a reason - a reason that my sense of justice finds compelling.It goes like this: As more and more...
by Brian 17 months ago
I am not sure if I commented on this, but I am wondering how people feel about peoples homes being sold out from under them for back property taxes? My mom died in 2014 and owed around $2,000 in back taxes. The house recently was sold by the county for $18,000.00.I am living in the house, and the...
by ahorseback 10 months ago
Whatever you do follow those party lines or pay for it dearly , you WILL be shamed ?
by Wes Lambert 5 years ago
Is there any way to pay all of your property taxes in advance for a set period of years?Let's say you want to not have to worry about the taxes for 30 years, could pay them in advance?
by Ari Lamstein 6 years ago
What countries and American states have the highest and lowest property taxes?Are there any American states or countries in the world that have no property taxes?
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