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Ed Pawlowski[_3_] Ed Pawlowski[_3_] is offline
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Default U.S. Home Values Up 2 Trillion Dollars This Year

On 6/11/2021 12:35 AM, 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.

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

Tax RATES should go down if the assessment goes up.Â* Insurance for
replacement would go up.


Tell us someplace where that happens.


Putnam CT. The mill rate for taxes is set by factoring the value of the
properties assess and the town budget. When they did the reassessment
each time the tax RATE was reduced to reflect it.

The last time it was done, industrial/commercial properties went up a
bit more that residential and my house tax actually went down a few bucks.

If you assume it it going up, the town may oblige you. We had people
concerned and watching for that.

Most towns/cities have regulations on how it works and just because
value goes up, no windfall.