2024 property tax assesments

[Anonymous]

Anonymous wrote:

Anonymous wrote:Looks like DC figured out how to make up for lost commercial property tax and sales tax revenue without officially increasing tax rates.

Oh, do you have evidence of taxable assessments higher than market value? Mine is still about $100k+ below market value and I suspect a lot of others are lagging as well.

The point is whooshing above your head. Taxable assessments in DC have traditionally lagged market values for as long as I’ve lived here. The year I bought my house where a market value was established, my assessment was $200k below. They wouldn’t need to exceed market values to more aggressively increase taxable assessments. It’s just going to piss off a lot of people, particularly first time homebuyers who may have ability to accommodate increases in their monthly payments to cover escrow.

[Anonymous]

Anonymous wrote:Looks like DC figured out how to make up for lost commercial property tax and sales tax revenue without officially increasing tax rates.

I can't recall any year since I bought property in D.C. (so, back to 2005) when my property tax assessment didn't go up. But I also have never lost money selling real estate in D.C.

Just because the market may be coming down slightly from recent peaks doesn't mean it's unfair to raise your assessed value -- and on top of that, let's not pretend this is some weird new thing the District just started doing. Most real estate in desirable locations tends to increase in value over time. Not exactly shocking that the tax values also go up.

If you've got the homestead deduction in place, you can't be taxed on more than a 10 percent increase per year, anyway.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Looks like DC figured out how to make up for lost commercial property tax and sales tax revenue without officially increasing tax rates.

I can't recall any year since I bought property in D.C. (so, back to 2005) when my property tax assessment didn't go up. But I also have never lost money selling real estate in D.C.

Just because the market may be coming down slightly from recent peaks doesn't mean it's unfair to raise your assessed value -- and on top of that, let's not pretend this is some weird new thing the District just started doing. Most real estate in desirable locations tends to increase in value over time. Not exactly shocking that the tax values also go up.

If you've got the homestead deduction in place, you can't be taxed on more than a 10 percent increase per year, anyway.

I’m sad that we are almost at the end of the road on that 10% per year hike. Our assessment did go down once in our 20+ years of living here. I think it was the 2008 recession. I don’t think we’d get what they say if we actually tried to sell in our home’s condition but it’s 100% not worth my time to fight it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Looks like DC figured out how to make up for lost commercial property tax and sales tax revenue without officially increasing tax rates.

Oh, do you have evidence of taxable assessments higher than market value? Mine is still about $100k+ below market value and I suspect a lot of others are lagging as well.

The point is whooshing above your head. Taxable assessments in DC have traditionally lagged market values for as long as I’ve lived here. The year I bought my house where a market value was established, my assessment was $200k below. They wouldn’t need to exceed market values to more aggressively increase taxable assessments. It’s just going to piss off a lot of people, particularly first time homebuyers who may have ability to accommodate increases in their monthly payments to cover escrow.

Yeah, I think we agree that I don't understand your point. It seems like you're saying what DC is doing is unreasonable, but I don't understand why.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Looks like DC figured out how to make up for lost commercial property tax and sales tax revenue without officially increasing tax rates.

Oh, do you have evidence of taxable assessments higher than market value? Mine is still about $100k+ below market value and I suspect a lot of others are lagging as well.

My proposed assessment is definitely not below market value, though it probably was until a few years ago. I live in a neighborhood where lots of houses have the identical size and floor plan to mine, and one sold in December for about $50k less than my proposed assessed value. I saw the pictures in the listing and if anything, it was a little nicer than mine. So I appealed for the first time this year.

[Anonymous]

Homeowners: Let's do everything we can do to get the government to limit new housing so my property value can be inflated

Homeowners paying property taxes: Why is my assessment going up

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Looks like DC figured out how to make up for lost commercial property tax and sales tax revenue without officially increasing tax rates.

Oh, do you have evidence of taxable assessments higher than market value? Mine is still about $100k+ below market value and I suspect a lot of others are lagging as well.

The point is whooshing above your head. Taxable assessments in DC have traditionally lagged market values for as long as I’ve lived here. The year I bought my house where a market value was established, my assessment was $200k below. They wouldn’t need to exceed market values to more aggressively increase taxable assessments. It’s just going to piss off a lot of people, particularly first time homebuyers who may have ability to accommodate increases in their monthly payments to cover escrow.

Yeah, I think we agree that I don't understand your point. It seems like you're saying what DC is doing is unreasonable, but I don't understand why.

Where did anyone say anything that you just wrote? It’s like you invented an entire debate in your head and then projected it. The problem is that no one is debating you. That’s why things are whooshing past you.

[Anonymous]

How do you appeal?