| Name: |
Lakeman
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| Subject: |
Property Taxes!!!!!
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Date:
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4/28/2007 7:05:23 AM
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Recently got a notice my property taxes had doubled. Man behind the desk at the courthouse said it was because of the prices the people were recieving for their places that had caused the increase, not the appraisals. We can thank the realestate dealers, especially remax and rl for this.
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| Name: |
F1Fan
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| Subject: |
Property Taxes!!!!!
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Date:
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4/28/2007 11:57:57 AM
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"We can thank the realestate dealers, especially remax and rl for this."
I'm not thrilled with the increase in taxes either, but it is sometimes just amazing to me that some of the folks here have the cognitive ability to actually walk upright. {shaking head. again....}
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| Name: |
SandyCreekman
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| Subject: |
no lover of many realtors
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Date:
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4/28/2007 1:58:02 PM
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but they have absolutely nothing to do with prices going up. Not a thing. It's totally market driven and a good problem to have at the Lake.
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| Name: |
Lakeman
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| Subject: |
no lover of many realtors
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Date:
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4/28/2007 4:34:02 PM
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Not so. A RL agent told me, " slap a high price on it and see where it goes, no matter how rediculous ". If the offer isn't high enough you don't have to take it.
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| Name: |
roswellric
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| Subject: |
We need
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Date:
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4/28/2007 6:36:01 PM
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a property tax exemption for seniors. They have paid enough taxes in their lifetime for schools, roads and the like.
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| Name: |
autiger
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| Subject: |
Property Taxes!!!!!
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Date:
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4/28/2007 7:34:21 PM
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We got ous last week and it was almost double of what last year was.
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| Name: |
cobra
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| Subject: |
We need
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Date:
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4/28/2007 8:12:41 PM
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I researched and found no state that totally exempts seniors from local property taxes. Alabama exempts the principal residence and up to 165 acres of land owned by seniors age 65 and older with incomes up to $ 7,500 from county (but not local) property taxes. Ala. Code § 40-9-21
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| Name: |
roswellric
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| Subject: |
We need
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Date:
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4/28/2007 8:58:53 PM
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Maybe true but so what.
Try Cobb County GA, no schooll taxes after 62.
You must be a goverment employee.
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| Name: |
SandyCreekman
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| Subject: |
sure...fine
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Date:
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4/28/2007 9:25:25 PM
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that does not contradict what I'm saying. The market establishes the overall prices, not a real estate agent. So he/she can put it where they want, but it's only going to sell for a market price. Do you really believe agents have an impact on the prices at large at Lake Martin?
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| Name: |
boataholic
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| Subject: |
sure...fine
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Date:
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4/28/2007 10:57:00 PM
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Come on, you know those folks at RL have special powers unknown to realtors selling property off the lake. ;)
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| Name: |
boataholic
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| Subject: |
no lover of many realtors
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Date:
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4/28/2007 10:59:48 PM
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Good problem? Not really. It is good for my net worth (on paper anyway), but harmful to my ability to move up to better property.
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| Name: |
boataholic
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| Subject: |
Property Taxes!!!!!
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Date:
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4/28/2007 11:01:44 PM
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We might as well all plan on having it double again in the next 5-7 years, maybe sooner.
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| Name: |
cobra
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| Subject: |
We need
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Date:
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4/28/2007 11:10:12 PM
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What would being a goverment employee have anything to do with what I stated.
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| Name: |
roswellric
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| Subject: |
We need
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Date:
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4/29/2007 8:01:34 AM
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I was just kidding- you did such a detailed research of the topic.
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| Name: |
roswellric
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| Subject: |
Ouch
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Date:
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4/29/2007 8:04:39 AM
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Me too but I hate to say it but I wouldn't sell for their assessed valuation. They will continue to go up. Somebody ought to make sure that the "homeboys" are being treated the same as the Lakies though.
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| Name: |
Osms
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| Subject: |
Ouch
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Date:
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4/29/2007 8:18:39 AM
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If you look at the tax website, you'll see that most properties in Sandy Creek area were added around 1993 (when APCo sold off the leased property). Appraisals of those properties have increased pretty close to market value, but if you look at properties that were purchased earlier (70s and 80s) the appraisals appear to lag way behind the market value.
Wonder who owns those--locals?
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You don't think it could be because they are older homes with less ammenities do you?
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| Name: |
Osms
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| Subject: |
LTL
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Date:
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4/29/2007 9:07:10 AM
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Possibly true, but the land of the older properties is usually more desirable--cause they got first choice. The website separates the land and improvements.
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| Name: |
RidgeRider
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| Subject: |
sure it is
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Date:
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4/29/2007 2:38:40 PM
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who does not want real estate value to increase? It's certainly a very good problem. All assets are on paper unless you happen to put money under your matress as an "investment."
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| Name: |
LifeTime Laker
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| Subject: |
Potential problem later
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Date:
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4/29/2007 5:11:02 PM
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Have you ever tried to finance a place that the land value exceeded 50% of purchase price? I know it happens with acreage a lot, but a house on 1/2 to 1 acre for the average of 500k now can create problems. If the land is worth 300k and the house 200k, the underwriter is going to have to know the specific market, or be provided tons of data to back up the appraisal. I am sure this is happening at some of the older places like we are talking about. Older, dated structures sitting on great lots could create a nightmare for some lenders, because the underwriters may be sitting in NYC, CHI, LA or anywhere, and not have a clue about exploding market values here.
URL: Todays AC Outlook
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| Name: |
Osms
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| Subject: |
Okay--but we're talking taxes,
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Date:
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4/29/2007 6:59:01 PM
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don't see the correlation.
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| Name: |
roswellric
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| Subject: |
Well sure...
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Date:
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4/29/2007 8:55:28 PM
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the bank will do it based on your balance sheet. Forget conforming to FNMA or GNMA.
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| Name: |
boataholic
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| Subject: |
Potential problem later
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Date:
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4/29/2007 10:38:08 PM
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Aren't the values of ALL Lake Martin properties value now more than 50% in land? Kind of like Los Angeles, etc? Don't the lenders just look at an appraisal to be sure they aren't loaning too much? I had no problem buying a year and a half ago when 2/3 of the value was the land.
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