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Tax grievance question...FOLLOW UP QUESTION

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Ian&EmmesMommy23
My family is complete!

Member since 11/08

12970 total posts

Name:
Diana

Tax grievance question...FOLLOW UP QUESTION

If you grieve your taxes and win...does that affect the value of your home? I'm waiting until i gain equity in my house so I can refinance into a conventional loan from FHA...but if grieving will lower the value then that will hurt me.

ETA..i'm doing the grievance online...should i low ball the value of my house? I paid $415k over a year ago. Can I say i think the value is $450k, or should i say 420k?

Message edited 2/17/2015 2:44:57 PM.

Posted 2/17/15 12:59 PM
 
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jellybean78
:)

Member since 8/06

13103 total posts

Name:
Mommy

Tax grievance question...

I'm not an expert but I don't think so. I think the value of your home when it pertains to a mortgage is determined by an appraiser not the tax website that is all over the place BTW Chat Icon

Posted 2/17/15 1:08 PM
 

ave1024
I Took The Wrong Road

Member since 12/07

6153 total posts

Name:
That Led To The Wrong Tendencies

Re: Tax grievance question...

It should increase the value of your home. If you pay less taxes than your neighbors, it should give your home's real market value up.

Posted 2/17/15 1:10 PM
 

Ian&EmmesMommy23
My family is complete!

Member since 11/08

12970 total posts

Name:
Diana

Re: Tax grievance question...

Posted by ave1024

It should increase the value of your home. If you pay less taxes than your neighbors, it should give your home's real market value up.



i like the sound of that! :)

Posted 2/17/15 1:12 PM
 

Christine Braun - Signature Premier Properties
LIFamilies Business

Member since 2/11

3992 total posts

Name:

Re: Tax grievance question...

Your assessed value for taxation purposes doesn't line up with fair market value. Bank appraisers and real estate agents don't even look at that when determining fair market value. We look at market data (recent sales, etc) to determine that.

So definitely go ahead with your grievance! Chat Icon

Posted 2/17/15 2:13 PM
 

Mill188
LIF Adult

Member since 3/09

3072 total posts

Name:

Re: Tax grievance question...FOLLOW UP QUESTION

for grievance purposes, you want the lowest value. However, it has to be realistic. The market is not dramatically different from where it was a year ago. Unless you bought a short sale or it wasn't an "arms-length" transaction, I would put the value at $415K.

Posted 2/17/15 3:49 PM
 

Ian&EmmesMommy23
My family is complete!

Member since 11/08

12970 total posts

Name:
Diana

Re: Tax grievance question...FOLLOW UP QUESTION

Posted by Mill188

for grievance purposes, you want the lowest value. However, it has to be realistic. The market is not dramatically different from where it was a year ago. Unless you bought a short sale or it wasn't an "arms-length" transaction, I would put the value at $415K.



thank you!

Posted 2/17/15 4:08 PM
 
 

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