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moonpuppy

join:2000-08-21
Glen Burnie, MD
reply to ITALIAN926

Re: Fire Them

How does it prove me wrong?

Assements of the housing values are going down. Less revenue is coming in because of this.

»www.hometownannapolis.com/news/H···-up.html

quote:
As real estate agents, we have often seen the sales price of homes, which is the true fair market value, vary substantially from assessed values. In the recently assessed parts of southern Anne Arundel county and Annapolis, the average assessed value declined by 15 percent. But the numbers can be all over the map. Our own home went down by 7.8 percent; whereas the assessed value of another Annapolis property we have listed for sale declined by almost 25 percent.
Now, the article goes on about how some people are going up is assessments and taxes because of the lag in the assessments catching up to what the home sold for. However, only certain places (like Annapolis which was mentioned in the article) are making adjustments to charge more. I do not live in Annapolis and the vast majority of people of my county do not live there either so rates in my area are the same BUT the values and assessments are going down and the county is collecting less from the other areas. Some of this has to to also deal with the Homestead Tax Credit which is over and the every 3 year assessments are coming due and the values are dropping like rocks.


ITALIAN926

join:2003-08-16
kudos:2
Reviews:
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Youre still not getting it.

When assessments go down, the tax rates GO UP. EVERYWHERE. Find the tax rates for Maryland for the previous year, and you will find an entire table of different numbers.

Conversely, when overall assessments go UP, MIL rates go DOWN. The town/cities will collect their monies regardless as to what your houses are worth in your area.

moonpuppy

join:2000-08-21
Glen Burnie, MD
said by ITALIAN926:

Youre still not getting it.

When assessments go down, the tax rates GO UP. EVERYWHERE. Find the tax rates for Maryland for the previous year, and you will find an entire table of different numbers.

Conversely, when overall assessments go UP, MIL rates go DOWN. The town/cities will collect their monies regardless as to what your houses are worth in your area.

Funny, I have my tax forms right here with me and the property tax rate did not change one bit. Again, I am not in a specific town or locality that raises rates on a whim like Annapolis.


ITALIAN926

join:2003-08-16
kudos:2
Find the MD chart for 2010-2011, then we'll know whos right. I guarantee it will be filled with a whole bunch of different numbers.