Quote:
Originally Posted by wifi
The value of a property to me (in my very limited sensibility, as claimed by certain posters) is the value that it sold for. So, if you bought a property for $100K, that is the value you should be taxed on the first year, then every year after the cost of living is added on. There are/were states that did that. Which they are, I leave to your own personal googling ability, so as not to start more nit picking controversies. Assessors just guess and base it on some arbitrary/argued formulas that aren't fair.
My neighbors house is on the market for an obscene value. If it sells, my taxes will go up, why? I don't even live on an island !  |
Wifi: If it sells that is the "market Value" and it is the best and only fair way to determine property taxes. Be thankful you have a nice property that has appreciated over time. I'm pretty sure that if your neighbor's house sells and you subsequently decide to move you will cite his property sale when setting your "obscene" asking price.