Reply to MoCo tax assessment

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Just got ours and it’s up 40 percent. House prices are crazy but there’s no way we could sell our house for the new assessed value. Has anyone else had such crazy high jumps? Or tips on appealing? It’s going to be hard to find directly comparable comps.[/quote]

Mmmmm how is that possible? The max allowable annual increase is capped at 10% for MoCo.  Unless this is a home you just purchased, in which case your assessment will be based on your purchase price.  [/quote]

That’s wrong. The cap on what a home owner will pay is 10 percent per year, but the assessed value can increase without any cap, which it did. This matters if you ever rent your home or if you sell.[/quote]

That's right, although it might be necessary to apply (was at one point in time).  We had one assessment that was shocking, but the next assessment happened before the first increase had actually phased in.  By the time of the second assessment the rate of increase was flat. Over twenty years we haven't actually paid taxes on a value that seemed implausible, even if the assessments were off at times.  We sold in November and the new owner will pay about 25% more than our last bill because we never did catch up with the last assessment, and the assessments didn't anticipate the recent runup.[/quote]

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