4 ms·
I'm actually in this situation on my property taxes. In San Francisco there is a 2.5 month window to appeal your property tax assessment. I did that for 2020,
by kelp 4y ago
I'm actually in this situation on my property taxes.
In San Francisco there is a 2.5 month window to appeal your property tax assessment. I did that for 2020, and was successful (the hearing was like a year+ later) and they gave me a refund.
I failed to do it for 2021, because I was under the mistaken assumption that they'd they'd also adjust my 2021 assessment after my appeal. They didn't. I guess that's on me?
I just sold that property for a loss and 15% less than my tax assessment, and I'm well past the appeal period for 2021/2022 sales tax year. So I think I'm out of luck. I just over-paid by 15%.
- stevenjgarner 4y agoThank goodness you did not buy that property for cents on the dollar 30 years ago and now have to also pay a fictitious wealth tax on the property when it was at the peak of its "value". Count your blessings.
- stevenjgarner 4y agoI thought things are capped in California, that Under Proposition 13, the annual real estate tax on a parcel of property is limited to 1% of its assessed value. This "assessed value" may be increased only by a maximum of 2% per year until, and unless, the property has a change of ownership? No such joy in Texas (yet).
- pyuser583 4y agoThat’s probably one of the reasons real estate prices are so high.
- cwalv 4y agoIt's definitely One of the reasons. I've compared some real estate prices in some low-cost areas to relatively high-cost areas, and found that once factoring in property tax, the actual cost was close to the same.
- pyuser583 4y agoI was comparing buying real estate in a high end part of Chicago with San Francisco. The places cost the same per month. But in SF, almost all of that was going to the premium/interest. In Chicago, a massive amount was going to taxes and HOAs.