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News About Our Taxes

Our taxes for property value have changed this year my taxes went from $91,200.00 to 176,244.00. Formula new 176244- old 91200=85024 divide by 91200 x 100 =93.2% increase. Quite an increase not in harmony with the neighborhood. Did you know according to the assessors office they took out the cash approach. Therefore, you cannot compare the cost of your house to others in the neighborhood. The cost approach by how much it would cost to rebuild your home anymore.

Did we vote for this change, NO. It just conveniently happen, why? In my opinion for the county to make more money. We lost our right to appeal the increase by the “cash approach”.

A few months ago, I invited a someone from the Assessors Office to assess my 256 sq. ft. little home. Valued at 123,545.00. He came out and said “my house was cute”, not a thing was changed on my tax valuation. The valuation was evaluated by the Market value what the homes sold for in our neighborhood. So the 775 K home that sold recently increased all our tax values.

Now since HH failed,people are working to lower our tax value. That will hardly be enough compared to what the assessors office has raised our taxes to, in the past years. Just who are we competing with?

Property taxes are usually calculated as a percentage of a home’s taxable value. When home prices go up, local government has a larger tax base, leading to higher bills for homeowners.

But first, the local tax assessor has to update estimates about how much each home in the area is worth. As a result, says Spark Rental’s Davis, 2020’s housing boom “will take a couple years to fully translate into dramatically higher property tax bills, because counties usually reassess property values every few years, often three-year intervals.”

In addition, 34 states have laws on the books that restrict how much taxes can grow in a single year. Some of these are restrictions on tax levies, meaning the government can’t collect more than a certain amount of revenue. Other states have restrictions on assessments. Meaning there’s a limit on how much the taxable value of your home. And thus your tax bill, can go up in a year.

“Everyone thinks that property taxes are simple and ho-hum. But for homeowners, it’s one of the hardest ones to understand,” says research associate Collins.

“You may qualify for benefits that will help keep your property tax bill manageable. By reducing the taxable value of your home. Reducing your tax rate, or ‘locking in’ the taxable value of your property. So that it cannot increase in future years,” says DiZenzo.

That would be nice for Teller county!

Homeowners across the country who believe their home is being assessed for more than the fair market rate. Can also appeal their tax bill.

“Taxpayers get mad,” says Carnegie Mellon’s Strauss. As a result, “it’s just a matter of self-interest, time, as the homeowners, the people who bought houses, start litigating.”

link https://www.realtor.com

link https://aboutdruidhillshoa.com

About DruidHillsHOA

I'm Diana Foraci, a resident of the Druid Hills located in Florissant Colorado. I'm the owner of this site, representing the Druid Hills HomeOwners Association which represents this community in Good Faith, with Honor and Integrity.

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