Heh. The tax situation just keeps getting better around here....
When we bought the house the taxes were around $9k annually, due to the most
recent assessment taking place at the top of the boom (when the house was
appraised at around $460k.)
The finished basement was gutted when we took possession, causing me to
challenge the assessment and get a good $2k knocked off, bringing the taxes
down to around $7k annually.
Then the house was reassessed last year, with a market value (by the assessor)
of around $375k, which brought the taxes down to around $5k.
A new state law that was just passed this year caps property taxes at no more
than 1% of the assessed value has now dropped our tax burden to $3.75k.
So we started out two years ago at $9,000/year and are now down to about
$3,750/year, giving us a drop in our escrow of about $400/month. Nice.
My HOA dues are $200/year.
Now I can refinish the basement and take advantage of the space without getting
nailed on the assessment.....
Dan
--- On Tue, 5/25/10, Donald Snook <dsn...@mtsqh.com> wrote:
From: Donald Snook <dsn...@mtsqh.com>
Subject: Re: [MBZ] Snooks house
To: "'Mercedes@okiebenz.com'" <Mercedes@okiebenz.com>
Date: Tuesday, May 25, 2010, 6:10 PM
Dan wrote: "I went from a 2300 sf house to a 4500 sf house. Plenty big, but if
we had not bought it at a foreclosure price we would be living in a 3000 sf
house or something similar..."
One of my partners (who makes a WHOLE lot more than I do), just bought a
foreclosure house from the bank. Actually, the builder just turned over 6
houses to the bank when he couldn't sell them. All of the houses were in the
most expensive neighborhood in town.
He bought a 5 bedroom, 8000 sg ft house that was originally priced over $1
Million for $700,000. Now, I think that is insane, no one needs that much
house. But, he does have 5 kids and he sold his previous house for over $500K.
I couldn't afford the annual taxes on his house or the Home Owners Association
dues.
Donald H. Snook
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