Saturday, April 22, 2006

Why not just call in the bulldozer?

The TCAD database has not yet been updated, so there's nothing for comparison except the anecdotal reports of others, who either live nearby or live in similar close-in neighborhoods. Today's red-hot mail announced that the appraised value has dropped a bit on the improvements side and skyrocketed on the land side, for a total increase of over 80%. This marks a return to the good old days when the valuations would shoot up 100% or close to it and took years to reach those figures in actual market-value terms. Some people report that the appraised value of their improvements has really nosedived and that the appraised value of their land has truly doubled. How could the local daily report 16% as the scare figure?

1 Comments:

At 1:50 PM, April 26, 2006, Anonymous M Sinclair Stevens said...

Yep. Our improvement value fell by 1/3, but the land value almost doubled. Net effect. The new assessment is 25% more than the old total meaning that the 10% so called "cap" is in fact the minimum yearly raise...as it has been ever since the cap went into effect.

I believe that raising my taxes 10% each year means that they double every six years. That has certainly is what's happened.

 

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