Huber Ridge Area

Wow!!  I got my new real estate tax  appraisal in the mail this week, and oh my gosh, what a shock!!! My home dropped $15,000 in value!!!  Anyone else suffering from sticker shock?  My house is now only worth about $13,000 more than I paid for it in 1997....which I guess is still better than some, but I had hoped to put it on the market next year so I can move closer to my daughter.  I need to do some updates and fixes first, so I guess I need to keep my fingers crossed that the economy will improve or that I will at least break even when I sell! 

Ours went down too, about 9%!  But then, I know some neighbors who's went up...seems somewhat arbitrary.

Ours dropped 18%.  We moved in seven years ago and, according to the county, our home is worth 10k less then what we paid.  The values make no sense to me.  I watch what homes in the area sell for, homes just like ours, and it is much higher.  All over thre place but I am not selling anytime soon.  I will take a slightly lower tax bill.

The real estate evaluations are used by the auditor to determine property and local taxes.  They are not the determining factor in the housing market and  they are not the final word.  We all know location, location, location is the driving factor in selling a house. What  the market will bear and support will determine how your house is priced for selling.  Real estate agents look at  the price of previous sold comps in the neighborhood to determine the selling price. Look on the bright side - taxes will go down in most instances so your tax bill in January will reflect the new evaluations. However,  this  is a double edged word -  lower taxes  can ultimately mean reduced services.  Be advised  - there are a number of levies coming this November.