80% Property Tax Increase... Loosing my Home? (Olympia, Wenatchee: low income, foreclosures, condo)

[sean98125]

Eyman doesn't want to be better at writing initiatives. He wants them to fail so he can raise funds to run it again. He's making a fortune off of playing the initiative game.

If Eyman were to re-write I-722 with only one subject instead of two - the "mistake" he always makes, it seems - then the courts wouldn't be able to over turn it. But now he can run another initiative to do the same thing, raise funds for that, and take some management fees and salary from the funds raised for his new initiative.

I agree that people are leaving because of taxes, but unfortunately more people are coming in than leaving.

[Sandy Nelson]

In today's edition of "The Olympian" there's an article about increased calls to the Assessor's Office after they have begun to mail out the tax assessment notices. Dennis Pulsipher, chief deputy county assessor, is quoted as saying that at this time every year they always receive a large number of calls. He urged taxpayers with questions to be patient, as the office does not have enough telephone operators to handle all calls promptly.

Originally Posted by Ultrarunner

JanB and Sandy, what would happen if I were to market my home at the new 80% higher value and not find a buyer... would this be sufficient grounds to lower my assessment?

Ultrarunner, the appeals board (county Board of Equalization) requires that you submit valid sales data of comparable properties. You would actually have to sell your home to prove your point in this way. An appraisal or comparable market analysis is the most useful data for this process. This data must be compared with the Assessor's appraisal of values, and the person appealing should be able to explain the difference between the Assessor's value and what the person appealing believes the true market value to be.

I encourage everyone who thinks they're burdened unfairly with property taxes to appeal all the way and to support an intititative to curb the level of tax increases. Why does it take Tim Eyeman to start an intitiative? What would be a reasonable annual cap on property tax increases?

Sandy

[cdelena]

Originally Posted by Sandy Nelson

...
Ultrarunner, the appeals board (county Board of Equalization) requires that you submit valid sales data of comparable properties. You would actually have to sell your home to prove your point in this way. An appraisal or comparable market analysis is the most useful data for this process. This data must be compared with the Assessor's appraisal of values, and the person appealing should be able to explain the difference between the Assessor's value and what the person appealing believes the true market value to be.
...

Careful, I have contested valuation in more than one place in this country and the party line by appraisers is 'a sale is a one time transaction that may not reflect the actual market value of the property'. It is not un-common for a sale to be judged 'distressed' and not at market value and other than a rigid procedure to try to contest the value you have no recourse to adjust the appraisal.

I have no experience in this state but my experience in Texas (where property taxes are more than 2 to 3 times higher) is to skip the formal appeal process and instead work on an informal basis with the appraisal staff with repeated visits offering documentation in a non-confrontational manner. In one case I saw a reduction from $659K to $495K and in another from $489K to $402K, but both took more than one appointment and six months of discussion.

I am especially interested in the issue as increasing taxes were one of the reasons that prompted me to move here.

[sphinx]

[quote=Ultrarunner;1743222]
Earlier, it was posted that Washington is ranked in the top 10 as far as the most expensive States to live in. Does anyone know the source of this information?


Fond this:

The ten most expensive U.S. cities to live in | SoYouWanna.com

[Sandy Nelson]

To become active in the fight to limit annual property tax increases, visit this site:

PREDICTABLETAX.COM

Sandy

[Ultrarunner]

I just read this headline in the Olympian Newspaper... seems like I'm not the only one feeling squeezed.

In tomorrow's Olympian
INCENSED HOMEOWNERS -- The Thurston County Assessor’s Office is flooded with inquiries about this year’s notices of home value assessments.

[KidBlue]

I found this web site that shows the tax burden per state. It shows WA is number 16 highest. Taxes by State

[StealthRabbit]

Originally Posted by cdelena

... skip the formal appeal process and instead work on an informal basis with the appraisal staff with repeated visits offering documentation in a non-confrontational manner. In one case I saw a reduction from $659K to $495K and in another from $489K to $402K, but both took more than one appointment and six months of discussion...

This is the most effective way to get a substantial reduction. It has worked in the past for me, but... once you become adversarial this avenue closes.. Currently it was not an option, as the assessor staff had too many contested cases last year to deal with them personally.

You want to get your "quality of Construction" reduced as there is a "factor" applied to your SF based on age / and quality. They consider stuff like counter-top material and flooring... and siding and windows and roof covering material. That is why I prefer to have a really nice apartment stashed into a barn or shop, with a beater home out front for the assessor to look at. But, the current value in land does not make it affordable to even do that.

There are several sites that list tax burdens by state, and you have to read the fine print to see what all they include. I miss the Money.com site that used to have comparisons including groceries, utilities, income, sales, and property. I have not found a fully comprehensive site recently.

This site has a spreadsheet version, and you can watch WA climb from #17 (1970) to #9 (2007) in total tax burden, but there are lots of things to consider in this, as it can't get too specific, considering how different my tax burden is from my neighbor's... (.15 Mil rate vs .087 + a far less aggressive assessor in the .087 district)
The Tax Foundation - Washington's State and Local Tax Burden, 1970-2007

CNNMoney.com: Taxes by state 2005, by rate
How (Not) to Measure Tax Burden

[StealthRabbit]

Originally Posted by Ultrarunner

...
So, the real question is where do we go from here? ..

Ouch, just wrote the check for 6 month's 2007 taxes = $5450.00

that means as compared to my other expenses in retirement (on my budget);
1yr taxes = 9 yrs of food or utilities
or = 3.5 yrs of exorbitant Medical insurance
= 15 yrs of home insurance
= 29 yrs of car insurance
Thus taxes are definitely not a sustainable expense on a fixed income since they increase A LOT every year.

Taxes are more than double what I ever paid in home loan payments, so this leads one to ask.

Originally Posted by Ultrarunner

...
... where do we go from here? ..

I consider $2400/yr to be fair taxes for a reasonable home on acreage. (after all, we paid $800.00; 12 yrs ago, when we had income...) I do have friends in eastern WA paying ~ $2400 on ag rated places, but... they are not recent sales, so... I need to find a farm for $200k. (not likely in WA state). Any help?

[StealthRabbit]

Originally Posted by KidBlue

I found this web site that shows the tax burden per state. It shows WA is number 16 highest. Taxes by State

now if that chart was relevant to retirees with low / no income and low spending it could be more valuable.

I need to find data or a search engine that would plug in; income, home value, auto values, and expected annual spending levels. Then it could cough up a specific state or area that would be favorable to retirees.