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[quote=Anonymous]You don't need to drop to extremes to create financial problems for the county.

We sold our house in Potomac last year for 100K less than we bought it for 15 years ago. The tax assessment was 200K+ over the sales price and comps in the neighborhood. We didn't lose as much money as other people are losing. The buyers were nice and had kids. They were about the same age as us but make far less money and really stretched to buy the house.  I hope that they don't need to sell in the next few years. Montgomery county will now get less property tax and less income tax as a result of our move.

When we dropped the price by 100K another neighbor that was selling but planning on holding on until he got a higher offer had to drop because his house wouldn't appraise based on our added lower comp. He was not happy. This is how neighborhood property values cycle down. He had a high income and had just retired so I doubt whoever bought his house would be paying the same amount of income tax and they certainly wouldn't accept paying property taxes 100K- 200K above what they paid for the house.

I understand the rush to sell. You aren't just trying to get at the last remaining high price buyers but you are trying to stay ahead of dropping appraisals.

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