2011 Home Assessment
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  1. #1
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    2011 Home Assessment

    So how is everyone's coming back? I was happy to see that ours went down by $5,600 here in Johnston.



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    Re: 2011 Home Assessment

    Our home went down, our rental house went up. Doesn't make a whole lot of sense, but who knows? They usually just raise the rates to make up for the decrease in value anyway.



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    Re: 2011 Home Assessment

    Quote Originally Posted by Cyclonepride View Post
    Our home went down, our rental house went up. Doesn't make a whole lot of sense, but who knows? They usually just raise the rates to make up for the decrease in value anyway.

    Assessed values are a giant FUBAR and anyone involved will admit it off the record, if you get them liquored up enough anyway. Always laugh at people selling their house and referencing "assessed value" when it suits them (in other words, when their house is assessed too high). Has nothing to do with market value. Might be in the ballpark, but just as likely it's way off high or way off low. The assessors' task has nothing to do with accurately valuing property. They just need all the values, when factored by the levy, to reach a certain amount that covers the tax revenue need.



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    Re: 2011 Home Assessment

    down $30,000



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    Re: 2011 Home Assessment

    Quote Originally Posted by Senolcyc View Post
    Assessed values are a giant FUBAR and anyone involved will admit it off the record, if you get them liquored up enough anyway. Always laugh at people selling their house and referencing "assessed value" when it suits them (in other words, when their house is assessed too high). Has nothing to do with market value. Might be in the ballpark, but just as likely it's way off high or way off low. The assessors' task has nothing to do with accurately valuing property. They just need all the values, when factored by the levy, to reach a certain amount that covers the tax revenue need.
    Agree, but your property taxes are based off assessed value, not market value, and most in Polk County should be going down this round, which means cheaper property taxes :)



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    Re: 2011 Home Assessment

    Quote Originally Posted by BooneCy View Post
    down $30,000
    I'm guessing you have a very expensive house?



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    Re: 2011 Home Assessment

    Down 5,000 but I thought that was bad....Can someone explain?


    @RandomGeoFacts

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    Re: 2011 Home Assessment

    Ours went down about 4.5% (Ankeny)

    FYI: It's good because your property tax is based on your assessed value.



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    Re: 2011 Home Assessment

    Quote Originally Posted by mj4cy View Post
    Down 5,000 but I thought that was bad....Can someone explain?
    Again, assessed value has nothing to do with the actual market value of your house; assessed value is used solely for figuring out how much you pay in property taxes.



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    Re: 2011 Home Assessment

    I just closed on my house last Friday, and got notice it went up 6,000 in Ankeny. What a nice housewarming gift from Polk County!



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    Re: 2011 Home Assessment

    Quote Originally Posted by chuckd4735 View Post
    Agree, but your property taxes are based off assessed value, not market value, and most in Polk County should be going down this round, which means cheaper property taxes :)

    Yeah, I kind of went off on a related tangent there.



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    Re: 2011 Home Assessment

    We just purchased a house in Johnson County, Kansas... The new appraised value for our home went down $23,000!! It has sat empty (bank-owned) for the last two years though...



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    Re: 2011 Home Assessment

    Mine went up 10% in Altoona. After going down 10% two years ago.



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    Re: 2011 Home Assessment

    Quote Originally Posted by mj4cy View Post
    Down 5,000 but I thought that was bad....Can someone explain?
    The assessed value is only used to determine how much property tax you pay. It isn't a gauge of what your house is worth (even though some people think it is). Your house's market value is determined by comparable sales and has nothing to do with assessed values.

    My house in WDM went down 2.9%, rental property near Drake went up 3%...doesn't make sense to me but oh well.



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    Re: 2011 Home Assessment

    What was everyone's breakdown? My land value dropped 2k, but my dwelling value went up 8k.



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