As I am thinking of walking away from my house I can't help but be annoyed with the city we live in. There are tons of foreclosures but yet the city has not begun to reassess the houses. I'm paying taxes on a house that is assessed at least $30000 too high...how is that fair? That's a lot of money that is going to city that shouldn't be. Then...I start thinking about how our house went underwater in the first place. Who is responsible for that? We didn't do anything wrong. We bought a house in good faith at a 30 year fixed and two years later through no fault of our own our house depreciated $30000. This whole situation with the housing/mortgages/banks really really sucks.
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I agree. You can get a re-assessment, but it has to be within their timeframe. The notice to appeal should be on the letter they sent with their assessment. My 124,000 house was recently assessed at 85,000 but the CMA I had done assesses my neighborhood at 50,000. Sad for those of us who bought into the neighborhood when the values were 125,000-150,000.
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