Market Conditions in 32825>Question Details

Ellyn C Keet…, Other/Just Looking in Orlando, FL

what was the housing market doing for the year 2006?

Asked by Ellyn C Keeton, Orlando, FL Wed Oct 10, 2007

I am trying to find info on what the housing market was doing in 06. I thought values were dropping but my assessed value increased by 17.15% HELP

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Answers

7
Ellyn,

My question is when did you purchase your property? If you purchased the property in 2005 then the increase would be in your 2006 taxes. The assessed value can be raised upto the purchase price. Once it is raised to the purchase price then it cannot be raised more than 3% per year unless you have done home inprovements or additions that require a building permit. In 2006 prices in all of central Florida started the decline. But again there are other issues that you did not addres in your question.

Hope this helps,
Linda J Sears
1 vote Thank Flag Link Thu Oct 11, 2007
If you go to the Trulia "Homes" tab and type in your zipode, you can pull data in yiur area going back up to ten years. If you the feel the value of your home is incorrect, you can appeal to your county tax assessor.
Web Reference: http://www.cindihagley.com
1 vote Thank Flag Link Wed Oct 10, 2007
The Hagley G…, Real Estate Pro in Pleasanton, CA
MVP'08
Contact
The real estate market in Orlando began dropping in March of 2006 and continues to drop today. I find it unlikely that the Orange County Property Appraiser's office will reduce your Just Value though. Your better hope that the new property tax amendment gets approved. The latest news have not been good. Here is the link to a recent article in the Orlando Sentinel about this amendment. http://www.orlandosentinel.com/news/local/state/orl-property…
Web Reference: http://sworlandoblog.com
0 votes Thank Flag Link Thu Oct 11, 2007
Base your research on local conditions. National markets may be irrelevant to your neighbourhood. Go go the local asssessors office, and look at recent sales and check how they evaluate properties to come up your assessed values
Web Reference: http://www.iansellsnola.com
0 votes Thank Flag Link Thu Oct 11, 2007
Ellyn,

Tax assessors make mistakes all the time. There maybe a special tax assessment that you have over looked.
Check the link below
What you really need is Property Tax Counsel.
The expense is usually not that much.
Shop around a lot of attorneys do this.
Good Luck
Web Reference: http://www.aptcnet.com/
0 votes Thank Flag Link Thu Oct 11, 2007
Mr.P, Other/Just Looking in Arizona
MVP'08
Trulia has some great reports on the different areas you might want to research their pages, in addition you can go to this link and see what the government says
HUD: Market Condition reports
http://www.huduser.org/periodicals/ushmc/articlearchive.html
0 votes Thank Flag Link Thu Oct 11, 2007
Contact a real estate agent in your area, because they can give you all the recent information of comparative market conditions--what has sold in past 6 months, past year, whatever, which is what a bank appraiser would use to determine value of a property. This information and other statistics that a realtor can supply can then be used to file an appeal with the taxing authority. A local agent can give you a great deal of background information to plead your case. Good luck, and let me know if you need more info.
Web Reference: http://www.myketriebold.com
0 votes Thank Flag Link Thu Oct 11, 2007
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