THSCC Forums

I think the county has undervalued my home a bit, and I am curious about the implications of that when we try to sell it in the future. It looks to me that they have ignored the 2 car detached garage.

While I don't want to pay more taxes, I also don't want to get lowballed when we decide to sell the place.

Thoughts?

Scott

Hell no. You want a low tax value, because when it appraises for much more than your tax value, the person knows the home is worth it, yet will in the end pay less taxes until the next assessment. - AB

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'14 Toyota Sequoia Platinum 4WD
Super Westerfield Bros - '93 Integra - LeChump Du Jour
STX 93 - Scion FR-S

Now, I need to have my car tax worked. They say my Celica is worth $11,470, yet I would be lucky to sell it for $7500. I am appealing it - AB

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'14 Toyota Sequoia Platinum 4WD
Super Westerfield Bros - '93 Integra - LeChump Du Jour
STX 93 - Scion FR-S

I've appealed 2 cars in the past and it was a lot easier than I expected. Then again I did have a bill of sale showing the price I paid (which was a lot less than the assessed value).

Scott, let us know how it goes. I want to fight Wake County's assessment of our house -- I think it's way too high for the market right now. They valued it at $80k over what we bought it for 5 years ago, which is a little excessive.

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Mike Whitney
whit32@gmail.com, 919-454-5445
V10, V8, V8t, I6, I6, V6, F4t, I4, I4, I4, I4, I2, 1, 1

I don't know what you paid, but I've seen $80K swings in Durham on homes that are currently for sale in the range of $300-350K. I'm guessing your percentage isn't out of line with those.

Problem with that is the appraisal usually doesn't come til after the sales price has been agreed upon.

I just sold my old home and purchased a new one and I can't say I let the tax value influence me a whole lot. The only thing I really used that page for was to look at recent sales in the area and see what houses were going for. I think a logical person would do the same, then add on more since you have the extra garage.

I was also got re-appraised at more than I just payed amonth or so ago, but one of the first things they want as evidence to adjust is recent appraisal. Having just had one done for the loan it was incriminating as the appriasal was more than wakes, which was more than I paid. I guess I'll let mine slide.

I hear ya. My 98 Cavalier has a tax value of $4400. Nevermind it's 10 years old with 200K on it.

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Vincent Keene
'06 Ford Mustang GT (track rat)
'15 Dodge Charger R/T (yeah, it's got a HEMI!)
'07 Ford Fusion SE (205,000 miles and counting)
'98 Chevy Z-24 (retired)
'93 Acura Integra (Team SWB 24HOL Car)

definitely don't want to appeal a tax value that is too low.

I'm appealing mine b/c its about 10% too high.

Tax value has little to nothing to do with sale price, the market detrmines that.

As far as cars go, how do you appeal that. They think my truck is worth $4700 for some reason (1997 Ranger 2WD ext cab, no options, 150k miles)

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2012 MX-5 Sport SUV

They added on for the extra "bling" you installed

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1990 Faded Reddish CSP Lite Miata
2002 Electron Blue Corvette Z06
2005 Mazda 6 Wagon
2003 Nissan Pathfinder DTV (Dog Transport Vehicle)

Scott, just to even things out, let's transfer 20K of the tax value of my house to yours. That should even things out nicely, but if you need more, I'm sure Shultz would be happy to kick in 10K. You're worth it, buddy!

When I bought Mike Dishman's ultra-bling tire trailer last year, Durham County sent me a tax bill for a trailer with a value of $10000. No problem getting the valuation fixed - I just went down to the tax office with Mike's original bill of sale (he worked a pretty good deal when it was new) and a photograph of the trailer.

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Art McDonald
Premier Amateur #518
2008 Dishman Cup
Pivot Cone Snob

Rodney is a waxer (but in a good way)

The tax assessment on our lot tripled while the number on the house changed very little. I think we'll be appealing.

My Raleigh house went up $20,000 in value. They did not notice the storage building out back. It is still below what houses were selling for here 5 years ago. I will take my assesment and smile.

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George Bright Member # 141
One of the youngest of the old farts.
Yes I voted against you joining the club.

Brice is correct.

Tax values are usually set below the market value intentionally. Each county and/or municipality has a different philosophy, some shoot for 95% or even lower. I think the rationale is that folks are less likely to get upset if the tax value is listed below the real value. This means less time is spent arguing and administeriing the tax collection process. In actuality it doesn't really make any difference as long as the valuing methodology is consistent throughout the community since the actual tax is adjusted accordingly to raise whatever amount of money that is needed to run the government (i.e., the tax you pay essentially works out to be the same).

The only value that really means anything is your appraised value if you go to sell the house. Tax value is not a factor that appraisers take into account when they calculate your home's value. If they did forgot to include your garage, then that's good for you and maybe they'll catch during the next re-valuation of property. Unless you live in Hillsborough, then I'd strongly suggest reporting it

Eric