| you’re buying a new home because of the | | | | appraisers being hired may not live in your area, or |
| glut of houses, or still living in your house while those | | | | even your state, and they rely on information they |
| homes around you are losing their value, you might | | | | get on the internet to make decisions about your |
| be suffering in a way that you may not have | | | | property. Of course, we all know that banks and |
| thought much about as it pertains to your property | | | | lenders want your property to be worth more, |
| taxes. | | | | because they’ll earn more in fees. |
| It seems that most communities are loathing | | | | What can you do? The answer is different depending |
| reassessing properties where values have declined. | | | | on whether you already own a home or are looking |
| Every community that has had housing which has | | | | to buy a new home. |
| gone belly up still needs to collect as much money as | | | | If you already own a home, your first step is to go |
| they can for services, schools, and anything else that | | | | to your local housing authority and file an appeal. This |
| they are supposed to take care of. | | | | is your request that they come out and reassess the |
| What many homeowners across the country are | | | | value of your home. However, you might find |
| discovering is that, just because the value of their | | | | another issue coming out of this. If your home |
| homes has gone down, it doesn’t mean their | | | | hasn’t been appraised in awhile, and prices |
| property taxes have gone down along with them. | | | | haven’t dropped as drastically in your area as |
| New home owners are also discovering that the | | | | you believe, you could end up with even higher |
| amount of taxes they are supposed to be paying is | | | | assessed rates. And, don’t think |
| not consistent with what the town is charging them. | | | | they’re going to come rushing out to your |
| This results in a double hit for all homeowners, | | | | house to do this assessment; it could take them |
| because some are paying mortgages for homes that | | | | some time to get around to you. |
| aren’t worth as much anymore and still being | | | | If you’re a potential home buyer, it behooves |
| made to pay taxes on these higher amounts. | | | | you to spend a little bit of cash to hire your own |
| Of course, something else you have to worry about | | | | assessor, someone who will go through town records |
| is the appraisers that banks and other lenders have | | | | on your behalf and also do a full assessment of your |
| been sending out to assess the value of homes | | | | home. This is separate than a home inspector, who is |
| without having any real understanding of what real | | | | looking for damages. |
| estate is worth in your area. This is because these | | | | |