Monday, April 13, 2009

Home Values Decline

Good news!  We can all expect our tax assessments to go down!!!

The average sales price of homes in metro Milwaukee dropped 8.2% in the first quarter, figures released Monday show.

The average sales price in the four-county area was $220,256, compared with $240,043 in the first quarter of 2008, according to Metro MLS Inc.

No?

 

(4) Comments
Posted by Owen at 1710 hrs
Economy + Politics + Politics - Wisconsin

  1. Well, actually, it doesn’t make much difference whether the assessments go down or not.  It’s all about the total levy and your share of it.  If assessments go down, rates go up.  If assesments go up, rates go down. 

    The only way you “win” when your assessment goes down is if yours drops while others stay the same or increase.  Then you pay a smaller share.  That’s why it makes sense to challenge an assessment if you think it’s too high.  But if they all drop about the same percent, it makes little difference in the amount of taxes you pay.

    Posted by .(JavaScript must be enabled to view this email address) on April 14, 2009 at 0556 hrs


  2. They have to drop by 10% or more.  If the city assessments and a private assessment are within 10% the city assessment stands.

    Posted by .(JavaScript must be enabled to view this email address) on April 14, 2009 at 0943 hrs


  3. Apparently not in the Town of West Bend.  We were just reassessed yesterday.  Ours went up 16%.  Is this “for the children” too???

    Posted by jgeld on April 15, 2009 at 1545 hrs


  4. I can’t help but think that if the reassessment notifications had gone out before April 7th, it may have tipped the referendum vote ever so slightly toward the opposite outcome, especially since the final count was so close. Seems a bit underhanded to me, almost as though the timing on the mailing was purposeful.  Nah…it couldn’t possibly be. rolleyes

    Posted by .(JavaScript must be enabled to view this email address) on April 15, 2009 at 1628 hrs


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