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burritoace t1_j6kof5d wrote

Reply to comment by ktxhopem3276 in School Me on the Property Tax Assessment Appeal by 3RudySquared

The assessment is supposed to be based on changes in value since 2012, it's not intended to pretend time stopped a decade ago.

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ktxhopem3276 t1_j6kponm wrote

Yes the math gets fuzzy how much to attribute to inflation 63% or 81% and that’s what the lawsuit is over

Edit another way is 2.1% versus 4.7% compound annual growth rate

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burritoace t1_j6kq6ma wrote

I think people assume that improvements etc should not count towards their reassessment but they absolutely should

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ktxhopem3276 t1_j6kqd1q wrote

if the common level ratio is artificially low that will exaggerate the value of improvements and minimize the effect of inflation. And if you make improvement s and don’t sell your house you get an advantage over people who make improvements but do sell

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burritoace t1_j6kvzng wrote

Right, which is why I question the motives of the people seeking to adjust the ratio way down

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ktxhopem3276 t1_j6kw7i9 wrote

Do you think the 2.1% or 4.7% growth rate is correct?

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burritoace t1_j6kyhqm wrote

I think it varies too much to set one number for the whole county, so the current system is stupid and should be replaced.

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ktxhopem3276 t1_j6kzo6f wrote

Reassessing every 3-5 years would be a good middle ground. ten years is the absolute limit based on the current frequency of posts on Reddit. Every one or two years is a lot of effort for little benefit.

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