Ugh! Just got my tax assesment from the county.

[chloe0724]

Property value went from 292k in 2008 to 174k in 2009. We owe 340k. At the time I filed chapter 13, the second wasn't completly unsecured, so I couldn't do a lein strip. I wonder if I call my second mortgage holder and tell them that their 135k loan is completly unsecure, if they would do anything?

And here's the kicker, taxes didn't go down because they had to raise them to pay for all the forclused properties. We loose over 100k in value in a year and still have to pay the same amount in taxes...WTF?!?

[StartingOver08]

Same thing in our neck of the woods!

Property value went from 292k in 2008 to 174k in 2009. ....
And here's the kicker, taxes didn't go down because they had to raise them to pay for all the forclused properties. We loose over 100k in value in a year and still have to pay the same amount in taxes...WTF?!?

We are having the same issues here. Used to be the market value was more or less 20% above the tax value. Now the market value is 75% of the tax values and the tax values keep moving down...but the millage rate is increasing!
Don't know the answer to your question, I am just comisserating with you!

[chloe0724]

Thanks for comiserating!!