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Author Topic: Property Values Declining  (Read 843 times)

Offline Gone

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Property Values Declining
« on: May 02, 2011, 10:22:38 PM »
Just got my Collin Cad Appraisal, went down another 2,816 dollars. Brings to total down 11,195 since I brought the house in 2005. Wonder if City Of Anna is going to raise taxes again to re-coup?
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Offline ehowton

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Re: Property Values Declining
« Reply #1 on: May 03, 2011, 10:30:26 AM »
We contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.

~ Winston Churchill (1903)
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Offline VolleyballMom

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Re: Property Values Declining
« Reply #2 on: May 08, 2011, 11:07:19 AM »
Our values went up, I am not sure how they figure it. We are in the Falls
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Offline ggolf95

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Re: Property Values Declining
« Reply #3 on: May 08, 2011, 11:29:29 AM »
We've been looking at houses in Grayson county. We'll see one we like, seems to be priced right, then go to the Grayson cad and find out it's appraised at $30K less. Our realtor says to pay no attention to the appraised value. It's not like someone comes out and goes through your house to see what improvements you've done, nor what you bought your house for.
This is why you should always consider an appeal if you think your value has been appraised too high.
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Offline BvAnna

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Re: Property Values Declining
« Reply #4 on: May 08, 2011, 01:07:31 PM »
I'm thrilled ours is declining...less money out of my pocket every month and the last few years have not had to dispute it.  Tax value is no indication of what your house is worth.
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Offline ggolf95

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Re: Property Values Declining
« Reply #5 on: May 08, 2011, 03:17:19 PM »
"Tax value is no indication of what your house is worth."

Bingo!

From someone who was in the mortgage business I should know.

Your house is worth whatever someone is willing to pay for it. Just like your car, your used CDs, that old driver you bought that you figured would put your game to PGA level.
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Offline RedHighHeels

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Re: Property Values Declining
« Reply #6 on: May 08, 2011, 05:41:09 PM »
This used to drive me crazy when I was a Realtor.  Tax Value has NOTHING to do with real value.
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Offline ehowton

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Re: Property Values Declining
« Reply #7 on: May 08, 2011, 05:52:59 PM »
Quote from: RedHighHeels on May 08, 2011, 05:41:09 PM
This used to drive me crazy when I was a Realtor.  Tax Value has NOTHING to do with real value.

Do the assessors not know this?  Someone ought to explain it to them.
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Offline RedHighHeels

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Re: Property Values Declining
« Reply #8 on: May 08, 2011, 09:14:11 PM »
Quote from: ehowton on May 08, 2011, 05:52:59 PM
Quote from: RedHighHeels on May 08, 2011, 05:41:09 PM
This used to drive me crazy when I was a Realtor.  Tax Value has NOTHING to do with real value.

Do the assessors not know this?  Someone ought to explain it to them.

Like Golf said, the assessors do not have all the information that they need to be able to make a true determination.  They don't know if you have granite, hardwoods, etc.  Hell, they are off on my square footage by over 500 sq ft (in my favor of course).
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Offline Gone

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Re: Property Values Declining
« Reply #9 on: May 08, 2011, 09:51:26 PM »
I'm not real concerned about the "value" because we plan to stay a while and things can reverse before we sell. What I am concerned about is the city tax rate going up again. The city keeps raising it to make up their shortage, so our taxes remain steady, not too bad at least they are not increasing much if any. Now if or when things turn around in a few years and the taxable value goes up, will our tax rate go back down? Probably not, we can all be hit with "sticker shock"!
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Offline ggolf95

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Re: Property Values Declining
« Reply #10 on: May 09, 2011, 08:42:24 AM »
Quote from: WC86 on May 08, 2011, 09:51:26 PM
I'm not real concerned about the "value" because we plan to stay a while and things can reverse before we sell. What I am concerned about is the city tax rate going up again. The city keeps raising it to make up their shortage, so our taxes remain steady, not too bad at least they are not increasing much if any. Now if or when things turn around in a few years and the taxable value goes up, will our tax rate go back down? Probably not, we can all be hit with "sticker shock"!

Just like gas; price goes up fast, turtle slow to come down.
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