On Friday, June 11, 2021 at 11:04:49 AM UTC-4, wrote:
On Thu, 10 Jun 2021 21:35:49 -0700, 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.
Exactly. Rates virtually never go down.

They do here, every time there is a revaluation. It's what fair and reasonable
places across America do when they revalue properties every ten years or so.
Florida may be an exception.


What they do here is reduce the effective assessment when there is a
bubble so they don't need to raise the rate if there is a decline in
retail price. We also have SOH for homesteaded properties that caps
increases to 3%

I see, so instead of adjusting the rate, they fiddle with the assessment.
Sounds stupid and backwards to me.