NEK_USA t1_j1yfhh0 wrote on December 28, 2022 at 9:01 AM

Reply to comment by EpictetussutetcipE in Vermont lawmakers aim to make housing more available and affordable by dropkickninja

I agree with this. We bought our house in NEK for a little under $80,000 in 2019 and our taxes have gone up almost $1,800 in 2 years and our house value doubled. During covid people came out of state and paid cash for homes around up for $500,000 and more! It was a selling/buying spree! If this pace keeps up we'll be homeless and forced out.

Loudergood t1_j21hvkz wrote on December 28, 2022 at 11:48 PM

Funny, my house value almost doubled and my taxes haven't increased at all.

NEK_USA t1_j21l8sw wrote on December 29, 2022 at 12:12 AM

Very odd, unless it's not town assessed value and you're referring to sale value such as on zillow. Our town assessed value keeps increasing and taxes are up $1200 more last year.

Loudergood t1_j21my7l wrote on December 29, 2022 at 12:24 AM

Oh yes, my town assessment didn't budge.

That said, appraisal isn't allowed to change the total tax revenue of the town anyway. The only exception I've seen to that is places like Burlington where commercial properties dropped in value like a rock because no one wants to buy a hotel or restaurant during COVID. This forced them to use residential rates to make up the difference.

NEK_USA t1_j21pcem wrote on December 29, 2022 at 12:41 AM

Wow. Aweful at a time people are most vulnerable.

We should have appealed our town assessment. They raised the town value of our house $30,000 2 months after we bought it,, which was almost $40,000 more than we just paid for it. Then this past year it went up another $46,000 with the town assessment. We will come up with the difference but one day it will be just too much if it keeps up at this pace.

cpujockey t1_j1z21df wrote on December 28, 2022 at 1:40 PM

> If this pace keeps up we'll be homeless and forced out.

forced out by taxes or flat landers with fat bank?

NEK_USA t1_j1z52ed wrote on December 28, 2022 at 2:07 PM

I hope not, but definitely possible during this decade if things don't slow down:(

We love our little slice of heaven, if not we would have sold it during the covid craze like everyone else did.

Hagardy t1_j2263yu wrote on December 29, 2022 at 2:45 AM

~~forced out~~

except you've turned $80k into nearly $200k simply by purchasing at the right time. I suspect you won't be homeless with your six figure windfall. $1,800/year in increased taxes on an $80k+ profit seems like...not very much?

I know it's theoretical value until you sell, except you have that value in equity.

NEK_USA t1_j237cpr wrote on December 29, 2022 at 9:02 AM

Equity means nothing if you love the place you live, don't plan on ever selling and want to spend the rest of your years there. I understand what you're saying. People shouldn't be forced out due to the burden of taxes. Our house is not worth that much BTW not unless we have another covid buying frenzy and people's heads aren't right due to fear.