On Friday, June 11, 2021 at 12:35:55 AM UTC-4, Bob F wrote:
On 6/10/2021 7:21 PM, Ed Pawlowski wrote:
On 6/10/2021 9:24 PM, Dean Hoffman wrote:
On Thursday, June 10, 2021 at 7:56:52 PM UTC-5, wrote:
On Thu, 10 Jun 2021 14:35:33 -0700 (PDT), Dean Hoffman
wrote:

https://www.dailymail.co.uk/news/article-9673329/Homeowners-America-got-2T-richer-months-year.html


As we found out in 2008 there is a difference between home prices and
home value. I would say home prices are up. Whether that is actually
going to translate to value will be seen.

Real estate taxes are going to jump. Insurance rates also.

Tax RATES should go down if the assessment goes up. Insurance for
replacement would go up.
Tell us someplace where that happens.

It happens here every time they do a reassessment, which is maybe every ten years
or so. What do you think happens? Properties go up on average say 50% and they use
those new numbers with the old tax rate? Suddenly the municipality would have
50% more revenue, if the poor slobs could pay their bills. It doesn't work that way.
The new tax rate is set so that the total revenue from the new assessment stays the same.