Forum Replies Created
-
AuthorPosts
-
EconProf
ParticipantTuVu: your friend’s experience, and mine, suggest that the Tax Assessor is so overwhelmed with appeals that they are granting them readily.
Anyone else here get that quick an acceptance on their appeal?ParticipantTuVu: your friend’s experience, and mine, suggest that the Tax Assessor is so overwhelmed with appeals that they are granting them readily.
Anyone else here get that quick an acceptance on their appeal?ParticipantTuVu: your friend’s experience, and mine, suggest that the Tax Assessor is so overwhelmed with appeals that they are granting them readily.
Anyone else here get that quick an acceptance on their appeal?ParticipantOne more reason to file an appeal even though the assessor may not answer you for up to two years: it may prompt a voluntary reduction by the assessor in the following calendar year.
Here’s proof. Though my appeal was filed last November for the property value in January of ’07, and though I have yet to be contacted about it, the assessor did mail me a reduction for January of ’08. So I will pay 23% less this December as a result.
My next door neighbor moved in 4 months after me in ’05 and experienced a similar decline in value. She has never filed an appeal and did not receive a voluntary reduction from the assessor. So it appears that filing an appeal triggers a voluntary reduction by the assessor in the following year’s taxes even as we wait for action on our original appeal.
Anyone else out there get a voluntary reduction letter from the assessor?ParticipantOne more reason to file an appeal even though the assessor may not answer you for up to two years: it may prompt a voluntary reduction by the assessor in the following calendar year.
Here’s proof. Though my appeal was filed last November for the property value in January of ’07, and though I have yet to be contacted about it, the assessor did mail me a reduction for January of ’08. So I will pay 23% less this December as a result.
My next door neighbor moved in 4 months after me in ’05 and experienced a similar decline in value. She has never filed an appeal and did not receive a voluntary reduction from the assessor. So it appears that filing an appeal triggers a voluntary reduction by the assessor in the following year’s taxes even as we wait for action on our original appeal.
Anyone else out there get a voluntary reduction letter from the assessor?ParticipantOne more reason to file an appeal even though the assessor may not answer you for up to two years: it may prompt a voluntary reduction by the assessor in the following calendar year.
Here’s proof. Though my appeal was filed last November for the property value in January of ’07, and though I have yet to be contacted about it, the assessor did mail me a reduction for January of ’08. So I will pay 23% less this December as a result.
My next door neighbor moved in 4 months after me in ’05 and experienced a similar decline in value. She has never filed an appeal and did not receive a voluntary reduction from the assessor. So it appears that filing an appeal triggers a voluntary reduction by the assessor in the following year’s taxes even as we wait for action on our original appeal.
Anyone else out there get a voluntary reduction letter from the assessor?ParticipantOne more reason to file an appeal even though the assessor may not answer you for up to two years: it may prompt a voluntary reduction by the assessor in the following calendar year.
Here’s proof. Though my appeal was filed last November for the property value in January of ’07, and though I have yet to be contacted about it, the assessor did mail me a reduction for January of ’08. So I will pay 23% less this December as a result.
My next door neighbor moved in 4 months after me in ’05 and experienced a similar decline in value. She has never filed an appeal and did not receive a voluntary reduction from the assessor. So it appears that filing an appeal triggers a voluntary reduction by the assessor in the following year’s taxes even as we wait for action on our original appeal.
Anyone else out there get a voluntary reduction letter from the assessor?ParticipantOne more reason to file an appeal even though the assessor may not answer you for up to two years: it may prompt a voluntary reduction by the assessor in the following calendar year.
Here’s proof. Though my appeal was filed last November for the property value in January of ’07, and though I have yet to be contacted about it, the assessor did mail me a reduction for January of ’08. So I will pay 23% less this December as a result.
My next door neighbor moved in 4 months after me in ’05 and experienced a similar decline in value. She has never filed an appeal and did not receive a voluntary reduction from the assessor. So it appears that filing an appeal triggers a voluntary reduction by the assessor in the following year’s taxes even as we wait for action on our original appeal.
Anyone else out there get a voluntary reduction letter from the assessor?ParticipantSDR makes some good points. I would add the following:
1. In weighing the rent-it-out scenario, be sure to consider ALL of the costs of being a landlord. Factors often ignored or underestimated: vacancy periods, fixup costs between tenants, value of your own time, tenant hassles, and the opportunity cost of your equity are just a few. You get no economies of scale in just running one rental house, and there is a painful learning curve if you have not done it before.
2. Interest rates have just dipped noticeably, and possibly not for long.
3. Price trends are falling for the forseeable future, as most here will attest.ParticipantSDR makes some good points. I would add the following:
1. In weighing the rent-it-out scenario, be sure to consider ALL of the costs of being a landlord. Factors often ignored or underestimated: vacancy periods, fixup costs between tenants, value of your own time, tenant hassles, and the opportunity cost of your equity are just a few. You get no economies of scale in just running one rental house, and there is a painful learning curve if you have not done it before.
2. Interest rates have just dipped noticeably, and possibly not for long.
3. Price trends are falling for the forseeable future, as most here will attest.ParticipantSDR makes some good points. I would add the following:
1. In weighing the rent-it-out scenario, be sure to consider ALL of the costs of being a landlord. Factors often ignored or underestimated: vacancy periods, fixup costs between tenants, value of your own time, tenant hassles, and the opportunity cost of your equity are just a few. You get no economies of scale in just running one rental house, and there is a painful learning curve if you have not done it before.
2. Interest rates have just dipped noticeably, and possibly not for long.
3. Price trends are falling for the forseeable future, as most here will attest.ParticipantSDR makes some good points. I would add the following:
1. In weighing the rent-it-out scenario, be sure to consider ALL of the costs of being a landlord. Factors often ignored or underestimated: vacancy periods, fixup costs between tenants, value of your own time, tenant hassles, and the opportunity cost of your equity are just a few. You get no economies of scale in just running one rental house, and there is a painful learning curve if you have not done it before.
2. Interest rates have just dipped noticeably, and possibly not for long.
3. Price trends are falling for the forseeable future, as most here will attest.ParticipantSDR makes some good points. I would add the following:
1. In weighing the rent-it-out scenario, be sure to consider ALL of the costs of being a landlord. Factors often ignored or underestimated: vacancy periods, fixup costs between tenants, value of your own time, tenant hassles, and the opportunity cost of your equity are just a few. You get no economies of scale in just running one rental house, and there is a painful learning curve if you have not done it before.
2. Interest rates have just dipped noticeably, and possibly not for long.
3. Price trends are falling for the forseeable future, as most here will attest.ParticipantLast November a newlywed relative, renting in Westwood, with a baby on the way, decided to buy. With two PhDs and two great jobs between them, they could easily afford most anything…they even went house-hunting. I persuaded them to check out some gloomy bubble blog sites & wake up to reality.
They did, upgraded to a bigger rental, & now thank me (& others, who urged the same).
So while it is often, maybe usually, fruitless to keep their hands away from falling knives, it is not inevitable. You have a duty to at least try. -
AuthorPosts
