Homeowner's Property Value

Discussion in 'General Discussion' started by cycloner29, Apr 5, 2017.

  1. Cycsk

    Cycsk Well-Known Member

    Aug 17, 2009
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    This seems ripe for a class-action suit. Is that even a possibility?
     
  2. Farnsworth

    Farnsworth Well-Known Member

    Apr 11, 2006
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    Des Moines, IA
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    I wouldn't think so as assessed values have been lagging behind market values for a long time. They just played catch up in a hurry. Maybe if assessed went over market across the board, because that would then be more of a money grab to make up funds from other areas.
     
  3. ArgentCy

    ArgentCy Well-Known Member

    Jan 13, 2010
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    Suing any Government is a good plan if you like to burn money. That is about all you'll accomplish. It is the total market value that should be the focus, how much is attributed to one thing or the other isn't really all that important unless your trying to value other houses.
     
  4. ArgentCy

    ArgentCy Well-Known Member

    Jan 13, 2010
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    Well our county finally posted the new tax year statements. Going to be some angry people. As expected my taxes are up 80% but still low compared to areas around me. This did lead me to find the state list of total mill rates (the multiplier x your net assessment). Those in Ames / Ankeny should not feel too bad.

    https://dom.iowa.gov/document/city-property-tax-rates-fy2017

    Ottumwa (6th highest in state) - 20.72
    Ames - 10.37
    Ankeny - 11.75
    Des Moines - 16.92

    I would like to see a correlation between the highest tax rates and the Top 10 worst places to live in Iowa. Bet there is a pretty strong relationship.
     
  5. cycloner29

    cycloner29 Well-Known Member

    Dec 17, 2008
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    We just got our new property tax assessment in the mail a couple of weeks and it was down about $200. So I am pretty dang happy right now!!
     
  6. mapnerd

    mapnerd Well-Known Member

    Aug 17, 2006
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    wut
     
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  7. ArgentCy

    ArgentCy Well-Known Member

    Jan 13, 2010
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    So you won the appeal? They usually don't like to make waves so just appealing may give you an advantage.
     
  8. BCClone

    BCClone Well-Known Member

    Sep 4, 2011
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    Some of it can come down to assessment versus mill rate. Some places will lower mill rates 2% and brag about lowering taxes when the assessment bumped up 10%. To me the comparative tax is what I look at. How does the combined tax for a house truly worth 100k (or whatever value) compare to neighboring bills. I also like to compare my house to what similar value houses are taxed at.

    Piece of advice to those building. If asked by the assessor what it cost to build, add on, etc. Always low ball that amount. They like to get lazy and use that value.
     
  9. ArgentCy

    ArgentCy Well-Known Member

    Jan 13, 2010
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    #129 ArgentCy, Aug 24, 2017
    Last edited: Aug 24, 2017
    They were too low the last 2-3 years because the assessor wouldn't do his job. So it went from $680 to $1230. Everyone in our office saw at least a $500-$1000 increase this year. So much for maintaining and improving your house. Should just let it go to #$*# with the rest of the area.

    An almost identical assessed value within Ottumwa city limits the taxes would jump from ~$1230 / year to $2,722 / year. And these idiots can't figure out why no one builds new houses in the city.
     
  10. BCClone

    BCClone Well-Known Member

    Sep 4, 2011
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    That had to be tax rates though right? I thought there was a general limit on valuation increases per year.
     
  11. ArgentCy

    ArgentCy Well-Known Member

    Jan 13, 2010
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    They redid the assessments, spending a million dollars on some biased companies, in 2015. So it had to do with the assessed values. The mill rates have been pegged at the state max for some time. Ottumwa has some of the highest rates per $1,000 in the state and compares to some areas like New Jersey.
     
  12. cyclone87

    cyclone87 Well-Known Member

    Apr 6, 2011
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    Ames, IA
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    Places that are growing have an expanding tax base along with increasing valuations and thus can often lower rates (i.e.. Ankeny and Ames). Places struggling to grow and that have low property values usually have to increase the rate to keep schools and local gov't afloat.
     
  13. BryceC

    BryceC Well-Known Member

    Mar 23, 2006
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    I won my Polk county property tax assessment this year. I think the only reason I had success was that I had comps that were sold in my neighborhood at much lower cost per square foot. If you want to win this thing that's going to be the standard.

    For the record I actually think the valuations in Ankeny are pretty good for the most part especially on land.
     
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