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Real Estate
Reply to "Montgomery County Property Tax Assessment Decrease"
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[quote=Anonymous]I just got our new property tax assessment in the mail today. For the second time since we moved here, the county has lowered the assessed value of our house. When it happened three years ago, I thought it was odd because I had never heard of a county or municipality purposely lowering its tax base, but I shrugged my shoulders because I knew that there had been some decline in property values in the DC area (though I wondered why they didn't use the sales price of our house from the previous year like most municipalities do to assess property values). From 2010 to present though property sales prices are through the roof in my neighborhood, so I don't understand the further decrease. Right now, the assessed value of the house is 20% less than we paid at the bottom of the market in early 2009. I'm not asking to pay more in property taxes, but I really wonder how they arrive at these values. Anybody know?[/quote]
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