increasing property taxes on home?
i bought a house in 05 for 125 thous, did a lot of remodeling and last may had it reappraised and it came in at 207 thous, good right, anyhow on my proposed tax bill from the county it claims the prop was valued at 35 thous in 05, and has gone to 55 thous a 43 percent increase in 3 yrs, my questions are
1. why does it show the prop only worth 55 thous and not at least the purchase price of 125? if i am smart, i think this is a good thing right that i am only paying taxes on this small amount...rather than the real value of the house
2. so it probably wouldnt be wise to protest the increase on my taxes seeing how it could be alot worse, right, like the 207 thous dollar appraisal?
yes this is my 1st home so i am WAY new to all this stuff with taxes etc. so please remember to use "taxes for dummies" language, no 13 letter real estate words...lol
You are correct.....sshhh! While it might be frustrating it went up so much, don't fuss too much or they may come and adjust it up again!
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