I got my Jackson County tax notification papers today for my home tax.
32% increase from 2018.
How is that at all reasonable? Should the government get a 32% increase in taxes when the housing market is too high? Would they give me a 32% reduction if the market busts? I don't remember seeing anywhere near a 30% reduction in 2008 when it DID bust at my old house (also in Jackson County).
I bought home for $204k as a Bank foreclosure 5 years ago. Last year, 2018, the house was valued at $240K. 2019, now they say $323K. My property tax is going up from $4170 to $5508 per year. That's coming up on $500 a month, which perhaps I'm still just a country boy - but that seems insane to me.
Yippie, an extra $112 bucks a month on Jackson County taxes over last years tax...
I know I wouldn't get $323K for this house if I were to put it on the market. Stuff isn't even selling in my neighborhood, we see signs posted, and nothing's moving here. I think people expect to get these inflated prices, and have listed their houses, but nobody is paying that. Or maybe the market just isn't hot in this neighborhood???
you remember that group of mansions south on 19th St? EVERY single one of them, 100% of them are for sale. It's wild driving down the street and seeing all the signs in the yard. Maybe it's these property tax increases that are making them sell...
Anyway I'm steamed - property taxes are a sham. Megan and I will try to argue ours by filling out the documentation, but that's a crappy subjective process too. It seems to me the property tax values should be a fixed adjustment every year the same as all your neighbors at least. I was talking to my neighbor about it and while my house went up 32% his house went up 15%. His house we both know is much nicer than mine, and in much better shape in every way. He said I should argue it because it's not right that two houses immediately next to each other would see a 17% difference in cyclical county evaluation.