Can taking a Heloc raise your property taxes?

Question

My home has appreciated since I’ve bought it. My property taxes are still being paid at a lower rate than what my house is worth.

If I get a Heloc at market value, the loan will peg my house at a higher value which is great to allow me to borrow more. But does this mean next year, my house will get assessed to the Heloc apprised value and raise my property taxes?

Kyle J. · Answer

@Troy Ma  Your property taxes will not be reassessed if you simply get a HELOC since the property is not changing ownership.  You have nothing to worry about.

Troy Ma · Answer

@Kyle J. Thanks!

Troy Ma · Answer

Thanks for the advice! Appreciate it

JD Martin · Answer

I've never heard of a reappraisal that uses bank loans as a basis. If it exists it's news to me.

Jaysen Medhurst · Answer

@Troy Ma, the town will do their own appraisal and assess based on that. Your HELOC shouldn't have anything to do with it.

That being said, if your house has indeed gone up in value, you should expect your taxes to go up. HELOC or no HELOC.

Can taking a Heloc raise your property taxes?

Can taking a Heloc raise your property taxes?

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