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Real Estate
Reply to "Devastated....Unpermitted garage conversation to office space"
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[quote=Anonymous][quote=Anonymous]Why the heck would you care. I mean he could get permits, he pays fees, then you close your property taxes go up. Or let it be. My sister bought a five bedroom and four bath 3,000 sf foot home in 2002 which had a large unpermited addition upstairs above two car garage roof and basement finished with bath. On tax records it is 2,400 sf with unfinished basemnt and two bathrooms. She sold it in 2022 and saved around $160,000 in property taxes over that time frame. The cash buyer paid above ask as attracted by low low property taxes. She told sister plans on tearing down wall between small den and two garage and making it a one car garage to make a large den, taking down wall between kitchen and dining room to make that a great space all no permits. She bought it with husband and two young kids and said staying for at least 25 years to retirement and will save 10K-12k a year. A 250K savings. I am sure next buyer will jump on it in 25 years a now 3,300 sf house with finished basement and four baths taxes as a 2,400 sf house with unfinished basement and 2 bathrooms. It is a selling point a lot of people. [/quote] At least where we are located, the most recent selling price of a house is what most determines the property taxes. If your house is valued at 3,300 sq ft with a finished basement to a new buyer, it's irrelevant if the county perhaps describes it differently. The county would only lower your taxes and property value if the overall market declined. [/quote]
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