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Answers (4)
- clemmer43
- Contributions:5
The largest part of your taxes are actually not related to the cost of your home. It is the amount of new structures like schools and fire stations...and those employees at those locations that will increase your taxes.
Each zip codes does get weighted...some areas will pay more money than other areas when it comes to your portion of the new costs. If your house costs 250K and another house costs 80K...the person with the 80K house will pay less than the person with the 250K.
If they stop building and reduce services and the tax base grows your taxes will acutally go down.
Right now the tax base is getting smaller and the services are growing so the taxes will go up...not down. The only way for your taxes to go down would be to have the nieghborhood re-weighted and that happens about every two years...by that time I would guess your home should of dropped another 50K and maybe that will help to reduce your taxes.
Take a look at this:
http://finance.yahoo.com/real-estate/article/106422/America's-Weakest-Housing-Markets
It states the Las Vegas Housing Market will continue to drop and over the next two years loose 48% more value of current home prices.
- sunnyview
- Contributions:25115
You must appeal within 30 days of your original assessment that was 9/2008 for Lyons Twnsp. The deadline for you home has passed, but you can still file with the board of review here. Call your assessor an find out what your options are here You may be on a short timeline to be able to ask for tax relief, so call sooner rather then later to make sure you don't miss an opportunity to have your case looked at.
- Peter Kedzior, "CyberRealtor"
- Contributions:194
Susie, I believe the value of your house has been estimated based on the recent sales of comparable homes in your area. The amount of taxes depends on the valuation method used by the county. They supposed to update their records every couple of years. Many homeowners hope that the next county appraisal will take into account that home values decreased significantly in the last 2 years. There is no guarantee, though.
- sunnyview
- Contributions:25115
Zillow doesn't set your taxes. It is possible that the tax number shown here is wrong however. You can check with you local assessor's  here  to see if there is a tax change for the new year. If your value is going down in your area, you might consider filing a tax appeal. In most places, they are free and Zillow graphs, charts and recently closed houses in your area can help you collect information to file your appeal. Your assessor's office can give you more information about that. I used Zillow's info to appeal my taxes and I won. Hope the link is helpful.
why has my home value dropped $53,000 in one year
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