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pAul2437 t1_j698cxg wrote

You as well! If you move they will be able to reassess and get the fair share

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69FunnyNumberGuy420 t1_j698x38 wrote

The house has been sold twice since the last assessment. As far as I can tell the city / school district only reassess in hot neighborhoods.

 
The city and school district get 3% of our gross income so I'm not going to feel too bad about the low house assessment.

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pAul2437 t1_j69yynu wrote

You’re being subsidized by folks paying fair value

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69FunnyNumberGuy420 t1_j6a5gcu wrote

They can reassess my house if they're that worried about it, the 3% EIT they're getting out of my wife and I is multiple times the difference they'd get if they reassessed my house to what I paid for it.

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pAul2437 t1_j6ahpms wrote

Doesn’t make sense. Your neighbors are paying the 3 percent as well. You are being subsidized with bottom barrel taxes

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69FunnyNumberGuy420 t1_j6aih7f wrote

The difference between what I paid and the assessment is about $905 in property taxes. My wife and I pay about $5500 a year in local EIT. The city's getting theirs.

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