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How does this work? Does anyone know?
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ndblovah
Be happy always
Member since 1/07 1880 total posts
Name:
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How does this work? Does anyone know?
When we purchased our home it appraised for less so when we put money down, it was not the full 20% therefore we are paying PMI. I received my tax receipt the other day in the mail and the home shows per the town of Brookhaven that it is worth way more than what it appraised for??? Does that matter at all?
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Posted 9/1/10 10:52 AM  |
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-Lisa-
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Member since 5/05 6530 total posts
Name:
Lisa
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Re: How does this work? Does anyone know?
The tax receipt is showing you what the town has your house assessed at. If its significantly higher that what you paid/recent appraisal, you can file a tax grievance to reduce your taxes based on the current value of your house.
However, the assessed value has nothing to do with your PMI.
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| Posted 9/1/10 11:00 AM |
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ndblovah
Be happy always
Member since 1/07 1880 total posts
Name:
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Re: How does this work? Does anyone know?
Posted by -Lisa-
The tax receipt is showing you what the town has your house assessed at. If its significantly higher that what you paid/recent appraisal, you can file a tax grievance to reduce your taxes based on the current value of your house.
However, the assessed value has nothing to do with your PMI.
Thank you. When I called Mark Lewis they told me that I could not grieve taxes this year... I am calling again. So annoying !
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| Posted 9/1/10 11:04 AM |
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Mill188
LIF Adult
Member since 3/09 3073 total posts
Name:
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Re: How does this work? Does anyone know?
Posted by kokopelia
Posted by -Lisa-
The tax receipt is showing you what the town has your house assessed at. If its significantly higher that what you paid/recent appraisal, you can file a tax grievance to reduce your taxes based on the current value of your house.
However, the assessed value has nothing to do with your PMI.
Thank you. When I called Mark Lewis they told me that I could not grieve taxes this year... I am calling again. So annoying !
You missed the deadline for this year. You had to file the first stage (the grievance) in May of this year.
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| Posted 9/1/10 2:51 PM |
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: How does this work? Does anyone know?
Posted by kokopelia
Posted by -Lisa-
The tax receipt is showing you what the town has your house assessed at. If its significantly higher that what you paid/recent appraisal, you can file a tax grievance to reduce your taxes based on the current value of your house.
However, the assessed value has nothing to do with your PMI.
Thank you. When I called Mark Lewis they told me that I could not grieve taxes this year... I am calling again. So annoying !
Beth I wouldn't use him. the house we bought came with him doing it already so unless we wanted to pay a ton of $ to cancel, we are stuck using him. in the mean time I found out a lot more info on it FM if you want the details, there are other options to getting them lowered. And BTW- you should try to get them lowered because the apprisal you recieved when you bought it will be close to your real market value. and your probably paying for the old market value
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| Posted 9/1/10 4:10 PM |
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Re: How does this work? Does anyone know?
I'd hire a real estate attorney that specializes in this. They generally offer a flat rate to grieve taxes.
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| Posted 9/1/10 4:16 PM |
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