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Name:	itisd -	Reply
Subject:	prop.tax-for john coley
Date:	10/1/2008 9:44:10 PM

Got my Elmore County property tax notice today. They did not raise my taxes for the first time in years. However I was expecting a reduction that would follow the reduction in selling prices on the lake. I have seen houses sell for much lower prices than listed and I have seen large reductions from the original listing price of houses. A house that was on the market for 3,995,000 sold for 2,995,000. A house listed for 1,400,000 in late 2007 is now being offered for 990,000. So wouldn't you think that county appraisers should have given us a reduction?

My property tax in 2007 increase 65% from the 2006 figure.so I think some of that should now be recinded. Anyone else see it this way?

How would you think the county assessed rate compares to the actual retail value of a property. Interested in hearing your opinions.

Name:	8hcap -	Reply
Subject:	prop.tax-for john coley
Date:	10/1/2008 10:07:09 PM

Remember the assessed value is as of 10/1/2007 so most of the losses suffered will not show up until next year's tax bill.

8

Name:	GoneFishin -	Reply
Subject:	prop.tax-for john coley
Date:	10/1/2008 10:30:10 PM

I strongly believe it is spending which determines your tax bill. If they reduced the value of all properties 40%, they would just raise the millage rate so your taxes would stay the same unless they cut spending. Reducing ratables across the board does not reduce taxes without corresponding budget reductions.

Name:	roswellric -	Reply
Subject:	You are Dreaming...
Date:	10/2/2008 8:46:02 AM

if you think the county is going to voluntarily reduce the valuation on your house. They pay lots of attention when the values go up and start whistling when they go down. That's politics.

You have to appeal the assessment on your property. I'm not sure about timing in AL but I think they are required to send out assessment notices early in the year. You usually have a short period of time to file an appeal (objection) to that valuation.

Be prepared to list our comparable sales in your neighborhood with photos, price, footage etc... you might ask a broker to do a Broker's Price Opinion (BPO) to take along with you to the county assessor's office office when you have your meeting. (Please don't take the broker)

In most counties that I have had experience with, you have two more avenues to take if the appeal fails. First there usually is a Board of Equalization that is the next step up the ladder They can be pragmatic about these situations since they don't want to defend a lawsuit by the taxpayer. Nex stop is the courthouse when you file suit.

Now most of these suits are filed by commercial property owners since they are dealing with more zeros. I wouldn't go there.

I'll bet if you made a good case your tax assessor will concede to the facts. BUT you have to do your homework. Remember they have ALLl the figures.

Maybe John C can clarify as to the AL counties particular procedures & terminology but the bottom line is you can rectify a bad valuation.But you have to have your act together.

Name:	John C -	Reply
Subject:	You are Dreaming...
Date:	10/2/2008 3:01:18 PM

"Dreaming" may be a bit extreme but I mostly agree w rr. I get this question a lot. Some things to remember:

1. In AL we pay bills in arrears. The tax bill you pay today was from a snapshot of value at 10-1-07. Any change in your assessed value on this bill should be from the time period of 10-1-06 to 10-1-07.
2. Just because listing prices have fallen doesn't correlate to appraised value. Appraisals go on sold prices.
3. Any appeal you make will become a battle of the appraisers so you better have 2 from 2 different people. In my opinion, a BPO or CMA (Comparable Market Analysis) from a Realtor won't do it.
4. They will appraise it as of 10-1-07, not today.
5. Appraisals cost $450 - $500 each. Sometimes more.
6. All this being said, I know of rare cases when the landowner went in and sat down face to face with the County Assessor and made the case that way, without appraisals. But I would guess these are few and far between. If it were me I would walk in there with two formal appraisals.
7. PLEASE NOTE I AM NOT A LAWYER NOR AN APPRAISER. Don't take this as legal advice or opinions about value. Please consult a lawyer and an appraiser before you take action and let them help you determine the costs and benefits of an appeal.

URL: Lake Martin Property Taxes - It Pays to Do Your Homework

Name:	roswellric -	Reply
Subject:	Before I would spend
Date:	10/3/2008 6:24:07 AM

that kind of money for an appraisal I would just just hire a tax consultant. They routinely go before these assessors & BOE's and have comparable sales in their pocket. If the county is way off and won't negotiate then that's what they make lawyers for.

I have done appeals in small counties in GA for residential and found them reasonable. I didn't need full blown appraisals. I did need comparable sales for the appropriate period.

Maybe Alabama is different.

Name:	willallie -	Reply
Subject:	prop.tax-for john coley
Date:	10/3/2008 9:00:07 PM

If you have to worry about how little you are paying in property taxes....as compared to other areas of the country,,,,then you don't need to live here.

Name:	roswellric -	Reply
Subject:	prop.tax-for john coley
Date:	10/4/2008 10:26:38 AM

Yes that's a good tax value perspective. But I don't think he was complaing about the value of his tax dollar but rather the inequitable assesment of his taxes.

Name:	Swimmer27 -	Reply
Subject:	Before I would spend
Date:	10/4/2008 1:57:17 PM

Many years ago my father was upset with a new valuation and went to the courthouse. They told him that is what their appraisers said it was worth. After a little heated conversation he told them fine, the county thinks it is worth that then reduce it by 10% and cut him a check cuz the county could have it and he would be happy as a pig in slop. They gave him a reduction.....lol.

Name:	8hcap -	Reply
Subject:	prop.tax-for john coley
Date:	10/4/2008 7:51:41 PM

so creative for a little troll

8

Name:	water_watcher -	Reply
Subject:	prop.tax-for john coley
Date:	10/7/2008 9:46:53 AM

I can't believe how low property taxes are at the lake ... no i don't want them raised, but mine are under $2000 compared to Atlanta where they are over $10,000 a year. But with housing prices falling, I do wonder what the counties will do. Since where I live in Atlanta it is based on 40% of the FMV (that they determine, but can be challenged) times a millage rate. I am sure they will just raise the millage rate since i can't believe the counties will give up the dollars once they are used to them coming in. Then as home prices rise again they are fat dumb and happy.

Why can't we move to the fair tax and eliminate all this crap.

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