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Property Tax Assessments are here!

The Sound Guy
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62 members have voted

  1. 1. My Property Fair Market Value was:

    • Raised 20% or more
      0
    • Raised 10%
      0
    • About the Same
      21
    • Dropped 10%
      26
    • Dropped 20% or more
      15

  2. 2. Do you think tax rates will:

    • Rise more than county assessments drop
      29
    • Rise, but less than the assessments drop
      16
    • Stay the same
      13
    • Drop
      4

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justgettingby

justgettingby

Posted
Posted

Ours went down $2000. Its paid off and we are renting it out so hopefully we'll make some of our total loss back in the longgggggg run.

 

Does anyone know if I removed the homestead with the county, do I also have to do it with the City of Dallas? I don't even know if the city has any homestead exemption in the first place. Just wondering...I don't want to get into trouble or anything.

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surepip

Hey, they have to get the money from somewhere to keep paying Holland & Knight to litigate against us. H&K's MILLION, plus another couple of hundred thousand to Talley, Richardson and Cable to

mei lan

Best be talkin' to your insurance agent. The amount insured should be the amount it would cost to REPLACE IT, not what it originally cost or what it is worth at the moment.

stbarts

They said on the news yeaterday that home values will continue to drop .   But I still like being a homeowner . I was raised in Chicago and never lived in a house. We always lived in apartments .

mei lan

mei lan

Posted
Posted

And you had to add the taxes up yourself to get the total.

 

Yeah, I noticed that. Tacky.

 

I should have added in my post above that ours stayed the same last year when everybody else's was dropping, which is what I meant by us being hit later than the rest of the county.

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AcworthDad

AcworthDad

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I just found the link to view my assessment...down $27300.00 :angry2: :angry2: :angry2: :blink: :blink: :blink: :blink: :angry2: :angry2: :angry2:

 

My value based on my research is down 30-35K compared to what I paid in 2004. We are not moving and have no interest in selling. Lower taxes is a good thing since I am retired.

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jennilyn77

jennilyn77

Posted
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Our home has lost so much value over the last three years, I feel like a yard sale ought to be literal to sell the yard.

 

It is beyond depressing.

 

Our home's assessed value has declined more than $56,000 in three years.

 

All of my equity is GONE.

 

All of it.

 

For the first time ever since this declining market, I find myself upside-down in my loan.

 

 

There is a HUGE part of me that sees walking away as a viable option.

I LOVE my home. I DETEST what's happening to its value.

 

I'm unhappy about this, AND I VOTE.

 

same here.

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peachesga

peachesga

Posted
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The estimated taxes for this year come to $1522.00. I will have to go check, but I am certain my taxes were less than that last year. How exactly can the value be less from last year, yet what I will owe will be more?

 

 

because they are raising the millage rate

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stbarts

stbarts

Posted
Posted

I talked to a friend last night & she is now very upside down on her house.

She & her husband are talking about walking away from it .

Her husband is worried about their credit

But she said everyone has bed credit now so she does not care ! :)

Her co-worker in Villa Rica is very upside down because all the houses around this woman have been forclosed on . She said they looked it up & all those empty houses belong to Wells Fargo . This woman , too, is thinking of walking away from her home as it was badly built & she has had so many problems with her siding, roof & septic . And her house is only 3 years old ..

 

Let's vote & pray that things get better in the next few years

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gpatt0n

gpatt0n

Posted
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One bright thing about lowered assessments is that the house really didn't change. It is the same house, just a year older.

 

Tabby: Like you, the value of my house here has dropped right at $56,000 from its peak valuation in 2009. The good news is that the tax bill and mortgage payment will also drop so there is less out-go associated with it.

 

Needless to say, the mortgage is greater than the 'value' but that is far from uncommon here. But looking on the plus side, if this were a stock market 'investment' instead of a house, they'd have called the margin on the thing and It'd sucked up all my cash first and then left me broke :) As it is, paper net worth is all that is really suffering.

 

pubby

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MarkPalm

MarkPalm

Posted
Posted

Hey folks, remember, the Fair Market Value listed on your tax assessment is NOT the same as Fair Market Value when you are thinking of selling. In Georgia your taxes are figured on 40% of the assessed "Fair Market Value." While a lot of homeowners have seen equity disappear in the wake of foreclosure activity, just remember that your property is worth what a ready, willing and able buyer is prepared to pay for it on a given day and of course subject to appraisal if there is financing involved. My tax assessment dropped $4k to $80k from last year (I live in Polk Co) which doesn't bother me one bit because it means I'll get to reset my escrow account and have a slightly lower monthly payment. However, current comps reflect that I could likely sell my house for $100k. I'm glad to pay lower taxes and sell for higher.

 

Just a different way to look at things.

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mei lan

mei lan

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Hey folks, remember, the Fair Market Value listed on your tax assessment is NOT the same as Fair Market Value when you are thinking of selling. In Georgia your taxes are figured on 40% of the assessed "Fair Market Value." While a lot of homeowners have seen equity disappear in the wake of foreclosure activity, just remember that your property is worth what a ready, willing and able buyer is prepared to pay for it on a given day and of course subject to appraisal if there is financing involved. My tax assessment dropped $4k to $80k from last year (I live in Polk Co) which doesn't bother me one bit because it means I'll get to reset my escrow account and have a slightly lower monthly payment. However, current comps reflect that I could likely sell my house for $100k. I'm glad to pay lower taxes and sell for higher.

 

Just a different way to look at things.

 

What he said. Based on sales prices in our neighborhood, I would be able to get a much better price than what the tax FMV is listed as.

 

Yea, property values keep going down and taxes have gone up. You will be paying close to or the same amount of the taxes you paid last year...............our wonderful Board raised the millage rate last year. <_<

 

The day AFTER the SPLOST passed, which people got all scared into voting for "because if you don't, we'll have to raise taxes". Riiiiiiiiiiiight. And they raised taxes anyway. Which is why I will NEVER vote myself a tax increase. The only one I ever did vote for in the past was for the fire dept., and they screwed us over on that one, too. :angry2:

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The Sound Guy

The Sound Guy

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Yea, property values keep going down and taxes have gone up. You will be paying close to or the same amount of the taxes you paid last year...............our wonderful Board raised the millage rate last year. <_<

 

The rates on the appraisals *are* last year's rates, if your value hasn't changed, then the tax total should be the same. That said, there still could be changes in the millage rates, this years has not been set yet.

 

One change to the good would be that I think that the Education SPLOST kicks in this year and most (if not all) of the line marked "School Bond" will be paid by the SPLOST.

 

As far as the county goes, I found the proposed 2012 budget at some weird site I never heard of before, (http://ga-pauldingcounty.civicplus.com/) that looks like Paulding.gov, but has different information on it. Does the county really need *two* web sites?

 

Anyway David's Cover letter reads in part:

 

I am sure most of your were not surprised to see the decrease in values for third consecutive year. For some citizens this is a welcome site and others were disappointed to see their property value reduced again. This year's tax digest reflects a decline in property tax revenue of 8.81% with the remaining revenue sources expected to drop 10.11%.

 

In terms of real dollars, this means the amount of funding available for this budget year will be reduced by more than $2M. However, the number of parcels, the population, and demand for services continue to increase as they have done over the past years.

 

<Snip>

 

We are projecting another (4th consecutive) decrease in the tax digest for FY 2013, after this point we are hopeful it remains flat until property values begin to improve.

 

<Snip>

 

This year as last year, we are considering many different budget options. The budget presented contains of $750,000 in spending cuts to the existing budget, some of which have already been implemented. Although the budget has been cut from the previous year, as it has the previous two years, the budget cannot be balance with either an increase to the millage rate, a substantial transfer from the Fund Balance account, or a combination of the two.

 

The budget contained herein assumes no change to the current millage rate (presently 7.6 mils) In order to have a balanced budget, this option requires the remaining portion of the budget gap (after cuts to the existing budget) to be filled using a transfer of funds from the fund balance account. This option will substantially reduce the fund balance account to the lowest level in over 10 years. While not a desirable position, we continue to explore other area of the budget that can be cut, however, additional cuts to the budget will further erode governmental services.

 

I believe it is important for all to understand the future impact of maintaining the current millage rate. Next year, should the project tax digest decrease be realized, we have a real possibility of falling below the required fund balance minimum of 25% which will require the Board of Commissioners to publish a correct action plan that restores the funding levels.

 

I would like to continue to encourage all my fellow Commissioners, Constitutional Officers and Citizens to assist us in offering ideas to better serve you at a lower cost.

 

Thanks for your support as we move forward with this budget for adoption on August 9th. We currently plan to hold a public hearing concerning the budget two weeks earlier, on July 26th.

 

 

I think I'll start another topic on the budget itself, but unless changes occur, which they might, reducing the fund balance to minimum levels is not a good idea, the county millage rate should remain the same.

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surepip

surepip

Posted
Posted

Yea, property values keep going down and taxes have gone up. You will be paying close to or the same amount of the taxes you paid last year...............our wonderful Board raised the millage rate last year. <_>

Hey, they have to get the money from somewhere to keep paying Holland & Knight to litigate against us. H&K's MILLION, plus another couple of hundred thousand to Talley, Richardson and Cable to keep us OUT of court.

 

But think of the bright side; Holland & Knight donates thousands and thousands back to Paulding politiciatns so at least some of it comes back.

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mdolph

mdolph

Posted
Posted

Our fair market value dropped $7300. According to the paper our taxes should be $1130 this year. Last year they were almost $1500! As it stands we will have about $1200 extra in our escrow at the end of the year AFTER taxes and insurance have been paid. I expect a nice check to get that back.

 

I do remember reading that hazard insurance premiums will be increasing substantially this year because of all the storm damage repairs over the past couple of years. You can't win for losing anymore. It's gotten to where it takes everything you have to keep your home. God help when repairs come along. We just spent nearly $2000 repairing our insufficient septic system and are about to pay $600 to repair a rotted back door/floor which was the result of poor gutter installation. Not sure we can handle much more right now.

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MamaJess

MamaJess

Posted
Posted

Our home has lost so much value over the last three years, I feel like a yard sale ought to be literal to sell the yard.

 

It is beyond depressing.

 

Our home's assessed value has declined more than $56,000 in three years.

 

All of my equity is GONE.

 

All of it.

 

For the first time ever since this declining market, I find myself upside-down in my loan.

 

 

There is a HUGE part of me that sees walking away as a viable option.

 

I LOVE my home. I DETEST what's happening to its value.

 

I'm unhappy about this, AND I VOTE.

 

 

Yeah we feel your pain!!!

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surepip

surepip

Posted
Posted

Ours dropped $47,000 in value.

 

Have no plans or desires to sell, so I guess we are happy.

 

But, it is now valued at less than we paid in 1983. I guess there are good points to having an older home, with a 1995-2000 kitchen, hot tub room, decks, HVAC, outdoor shower, enclosed courtyards, etc.

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winston1972

winston1972

Posted
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Ours is down another $20K+ but my taxes are still over 2K a year and for what? Don't use the schools, pay extra for garbage...

 

For those comsidering bailing- research the Mortgage Debt Forgiveness Act, it looks you may be to avoid federal tax liability if your house is foreclosed on prior to Jan 1, 2013 if I'm reading it correctly. Might have to bail now, with the backlog to make sure you meet the deadline..

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msgastorm

msgastorm

Posted
Posted

I just found the link to view my assessment...down $27300.00 :angry2: :angry2: :angry2: :blink: :blink: :blink: :blink: :angry2: :angry2: :angry2:

went from $103600 to $76300

Can you post the website you used to view the assessment? I, and I am sure some others, would like to look up ours.

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mei lan

mei lan

Posted
Posted

How so?

 

The Fire Tax was billed as what we needed to take the FD to a professional level, which they did. But then they just took them out of the regular budget and used the old FD money for other things, leaving the FD somewhat better off, but not as better off as it was presented to the taxpayers. I do not regret voting for it because of the way it was presented, but they were not honest in their dealings.

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