The taxable value on my house went down $15,700 this year.

[sufrommich]

I got my notice today,almost $16,000 in one year. My taxes will be reduced by $976.00 a year, I honestly can't imagine how local governments,including my own, are going to survive this . I've been in this house for 12 years and it is now worth about 50% less than I owe on it. :scared:

Anybody else seeing their home value go down by that much?

[rucky]

1. Your county actually reassessed?

Ours managed to skirt it somehow, knowing how much tax revenues will go down. Essentially a de-facto tax increase.

[sufrommich]

2. I think they skirted it last year. I am absolutely in shock right now.

[1monster]

5. Same here. After Florida increased the homestead exemption, I expected my

taxes to go down... Some how, instead of going down, they went up........

[pnwmom]

3. Our assessment has gone down three years in a row.

The house is worth about 75% of what we paid for it.

All the local districts are suffering from the drop in property taxes.

[louis-t]

4. 2008 to 2010 mine went down a lot. This year it went up.

Value went from $102,000 down to $79,000. Went up to $80,500. I thought I was still above water. Just sold a house like mine for $25,000 less than I owe. More and more cities are making up for the loss by flagging every vacant house. Before anyone can move in, they need an inspection ($200), permits for any repairs (maybe $600), and finally a certificate of occupancy. They ticket homeowners for not shoveling their sidewalks ($100). They charge owners of vacant houses $1,000 for "yard cleanup". On top of that, the banks that own foreclosures are charged the non-homestead (higher) tax rate in Michigan. Detroit is worse. If someone dumps trash on your lawn and you are out of town, you get a ticket of $1,500 to $2,500.

[sufrommich]

7. I live in the western suburbs of Detroit. In towns with many

foreclosures (which I assume is most of us) they are using market activity based on surrounding areas or "general marketing trends". In other words, there are so few non foreclosure sales, that out tax assessments may be based on sales from any community where they can compare actual sales. Unbelievable.

[louis-t]

8. You are correct.

I was going to let the increase go, but I think now I will go fight it.

[dixiegrrrrl]

6. Zero. We pay...nada taxes on our house and land.

Homestead law, 100% exempt if you are over 65, OR blind, OR disabled.
Without the exemption, we would be paying, for 2 acres and a house, which in 2005 was valued at 114,000 K,
IN the city,
taxes were 365.00.
I have no idea how the local government can afford that in high retirement areas.

One of the major reasons we moved back here when we retired.

[madrchsod]

9. mine has`t gone down that much...

the homes are reasonably priced in a decent middle-retired class area

[BobbyBoring]

10. We get accessed every three years

What really sucked is the one before this was done at the height of the bubble. we got creamed by taxes. This year however, the house went down $82,000.00. We also own a couple lots and they dropped about 40K.

That's part of the reason local government are having such a hard time.

I wonder if banks have to pay taxes on foreclosures? I HOPE SO!