Assume the position… - Posted by Bill
Posted by Bill on April 11, 2002 at 21:25:49:
Sorry to tell you this, but you’re probably not going to have much luck with the methods you’ve outlined.
On the plus side, however, the property is worth more, so be glad of that at least.
Each municipality sets their yearly budget and then the value of the assessed real estate is taken and they come up with a mill rate per thousand to get the budget. If the values are higher, the mill rate should drop, unless they all vote themselves raises (and you can guess the probability of that). Unfortunately, municipal taxes are only one portion of the total. All the other special taxes are added as well as the school referendums, etc.
Depending on the new values, your taxes could be unbelieveable. (Don’t forget to vote in the next elections and get the people out who are on the tax and spend binge!) This happened in Calif. and soon people who were born and raised in the costal towns could not even afford the taxes on the places they lived in, so they got together and passed Proposition 13 in Calif., which froze assessed values at 1972 prices except for a small cost of living adjustment, or unless the property was sold. If sold, the new assessment went up to market price. Then you would have two virtually identical houses with tax on one at maybe $2000 a year and the other one at $15,000 a year. There is no escape from the tax man unless you are possibly a bonafide church.
Of course, you could sell at these high prices and either find a new place for less or possibly move to a less expensive area. I hear North Dakota has low taxes. Believe me, we all pay too much in taxes.