I have had several conversations lately with excited property owners who believe their tax value on their homes will go down when the reappraisal is done. They think this will, in turn, lower their taxes.
Not so fast.
When a reappraisal results in a trend of lower tax values, you can take it to the bank that the tax rate will then rise. This means that even though your particular value is lower, a bigger percentage of it will be in your tax bill.
The bottom line is that you really aren't saving over the long haul. And if you want to sell your home, a higher tax value is a plus... so don't get too excited!
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