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news · Joined: 14 Jul 2007 Posts: 0 Location: Greater Boston

Use this forum thread to discuss the following link.

Description: Curious Why Property Taxes Don't Match Home Values?
URL: http://wbztv.com/local/property.tax.abatement.2.1265437.html
Info/Broken?: http://www.bostonbubble.com/link_info.php?id=2633

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john p · Joined: 10 Mar 2006 Posts: 1820

What you need to consider regarding property taxes isn't so much your house value, but your share of the tax burden.

For example when people used to have house values that were less, their tax rate was higher.

House value of $350k time tax rate $15 per thousand equals $5,250 a year.

House value of $400k times tax rate $13.125 per thousand equals $5,250.

Tax assessors basically take last years receipts and multiply it times 1.025 (for 2.5% growth (Prop.2 1/2)) Then they divide out the house values.

What matters to you is if you own a Cape and say Capes aren't selling and have slid in value versus Colonials, you can then ask for an abatement because your home's value relative to other's homes has slid so therefore you should carry less of the tax burden than your prior year, again, because your house is worth less relative to others in the preceding years...