Join Date: Mar 2004
Location: on the beautiful prairie of MN
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We got our 2008 property tax assessment paper in the mail this week. According to the county, the value of our home and property has declined by over $20K (about 8%) since last year.
I'm not expecting our property taxes to go down, since we're still receiving the same services as we did last year.
We bought this house less than a year ago. I knew that the market was going soft, but receiving this assessment really surprised me. I don't know if the assessment is accurate. The county's assessment for the property in 2007 was very close to what we paid for the house. If the assessment is accurate for this year, it means that we've lost a good chunk of our equity in our home. I guess that means we'll be staying here for awhile, whether we want to or not.
Anyone else have a lower assessed value on their home this year? My FIL, who lives in the same state but in a different city, also saw a reduction in the assessed value of his home this year. I'm wondering if this is just happening in MN, or if other parts of the country are also seeing this.
New signature, same old me: Ann- mama of 2 boys and 2 girls, partnered to a fabulous man.
I'm an unintentional weasel feeder and I suck at proofreading.