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Bob F Bob F is offline
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Default U.S. Home Values Up 2 Trillion Dollars This Year

On 6/11/2021 6:05 AM, Ed Pawlowski wrote:
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.Â* The mill rate for taxes is set by factoring the value of the
properties assess and the town budget.Â* 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.Â* 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.


Amazing. I've never heard of it being done like that.