ktxhopem3276 t1_j6kponm wrote on January 31, 2023 at 12:32 AM

Reply to comment by burritoace in School Me on the Property Tax Assessment Appeal by 3RudySquared

Yes the math gets fuzzy how much to attribute to inflation 63% or 81% and that’s what the lawsuit is over

Edit another way is 2.1% versus 4.7% compound annual growth rate

burritoace t1_j6kq6ma wrote on January 31, 2023 at 12:36 AM

I think people assume that improvements etc should not count towards their reassessment but they absolutely should

ktxhopem3276 t1_j6kqd1q wrote on January 31, 2023 at 12:37 AM

if the common level ratio is artificially low that will exaggerate the value of improvements and minimize the effect of inflation. And if you make improvement s and don’t sell your house you get an advantage over people who make improvements but do sell

burritoace t1_j6kvzng wrote on January 31, 2023 at 1:19 AM

Right, which is why I question the motives of the people seeking to adjust the ratio way down

ktxhopem3276 t1_j6kw7i9 wrote on January 31, 2023 at 1:20 AM

Do you think the 2.1% or 4.7% growth rate is correct?

burritoace t1_j6kyhqm wrote on January 31, 2023 at 1:37 AM

I think it varies too much to set one number for the whole county, so the current system is stupid and should be replaced.

ktxhopem3276 t1_j6kzo6f wrote on January 31, 2023 at 1:46 AM

Reassessing every 3-5 years would be a good middle ground. ten years is the absolute limit based on the current frequency of posts on Reddit. Every one or two years is a lot of effort for little benefit.