Updated 4 days ago on . Most recent reply
Dealing with assessments - overvalued.
So there's this lot on a lake. It's undeveloped. Nothing special. In a state full of lakes.
The town did a re-assessment recently. Hadn't done one in a long time. Cool.
Lots assessments across the street (not on the water front) went up 60-70%. Taxes went up 20%-25%ish.
The little lot on the lake... 512% increase. Taxes went up 500%. Seems like they were fat fingered and added a couple extra zeros.
Disputed it informally and they came back that it was within reason. Look at a bunch of other properties on the water and they all saw the same increases. So their counter argument is "it's worth that much cause we said all the others are"
I'm leaning towards a formal dispute. I know to get an appraisal done. Is there anything else I should plan on doing? I feel like they're just trying to stick it to the waterfront lots (we aren't actually in that area so don't know anyone else there).
There was a comp lot that sold within the last 24 months for 1/9 of what they're saying the subject lot is worth. Other than that there isn't a lot of lot sales. As far as ones with houses on them... you can get those for like $100,000 more than what the they're claiming the lots worth.