Market Conditions in 08401>Question Details

Charles Jones, Other/Just Looking in 08401

how will the reval affect me?

Asked by Charles Jones, 08401 Fri Jan 18, 2008

Help the community by answering this question:

Answers

2
Municipalities are mandated by the county to re-evaluate the values of all real property to achieve uniformaty of values. This provides that each property is assessed at the current value and will pay their fair share of property taxes. In markets where property values have decreased and many onwers are filling tax appeals. The municipality has the right to increase the tax rate in order to stabilize the income from propertry taxes to pay for city expenditures. It's a vicious circle. I will need your property address to more properly assess what affect the new rate will have on your property.

Thank you for your great question.

Joe Hayoun
0 votes Thank Flag Link Sat Oct 20, 2012
Hi Charles,

Your taxes will not necessarily increase. Although the assessment will increase, the tax rate applied to that assessment to calculate your tax bill is going to decrease. So your taxes may go up or may not change much at all.

Please let me know what happens with your assessment and tax amount. I'm curious to see what happens.

Best wishes,

Matt

P.S. Please let me know if you have any additional questions.
Web Reference: http://HavilandGroup.net
0 votes Thank Flag Link Fri Jan 18, 2008
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer