MoCo tax assessment

[Anonymous]

Anonymous wrote:Last point re OPs calculation:
850K purchase price assessed at 1.2M is a 41% increase. Which checks.
12K tax bill going to 18K, is a 50% increase. Which regardless is a significant miscalculation or exaggeration.

OP at one point said they pay $1,300 in property taxes which is $15,600 a year. So it’s only going up $2,400 a year if it’s going to $18k.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Last point re OPs calculation:
850K purchase price assessed at 1.2M is a 41% increase. Which checks.
12K tax bill going to 18K, is a 50% increase. Which regardless is a significant miscalculation or exaggeration.

OP at one point said they pay $1,300 in property taxes which is $15,600 a year. So it’s only going up $2,400 a year if it’s going to $18k.

Which would be a 15% increase, so who knows.

[Anonymous]

Anonymous wrote:Dude your situation makes no sense. You still have answered how you were able to afford to buy an $850K house on a $100K salary. You never answered the question of whether or not you put down a huge down payment.

Something isn't right here. Sorry but it doesn't add up. Also a property tax of $18K in MoCo means your property is valued at close to $2M. Where in the world do you live that 2 years ago you purchased at $850K, and it's now worth $2M? Even in this market that is impossible.

Take a look - that was answered. Looks like OP isn’t coming back and I don’t blame him.

[Anonymous]

Knew to all this. We recently bought our first house and assessment came in at a bit higher value than what we paid (and the appraisal). Is it generally worth appealing for 10-20k difference or not?

[Anonymous]

Anonymous wrote:Knew to all this. We recently bought our first house and assessment came in at a bit higher value than what we paid (and the appraisal). Is it generally worth appealing for 10-20k difference or not?

Not worth it. let sleeping dogs lie, because it could come back to bite you - if they reassess and realize it should actually be higher than $10K-$20K. The difference in your property tax will be negligible.

[Anonymous]

Anonymous wrote:Knew to all this. We recently bought our first house and assessment came in at a bit higher value than what we paid (and the appraisal). Is it generally worth appealing for 10-20k difference or not?

Hell yes, but today is your first day to do so.