Bob Logue

WHAT IS THE REAL VALUE?

If you sold your home when the economy was booming…chances are you would get more for it. If you sold your home when the economy is in recession with lots of layoffs and fears, or if lots of other homes on your street were for sale for whatever reason, chances are you would get less for it. Right? So, what is the real value of your home?

The truth is…it varies due to many factors. That’s why property assessments and property taxes are the big lie.

If you sold your home for $100,000 is that what it is worth? Well, perhaps not since the price included the realtor’s commission—probably about $6,000 or $7,000. And what about the appliances that conveyed with the home?

Have you ever seen the value of appliances listed on an assessment form? So, if furnishings—appliances, draperies, etcetera were worth—let’s say $3,000---the value of the home then wasn’t $100,000…but more like $90,000. Yet the county will use the ‘sale price’ to determine the value of the home.

What about a mobile home? Let’s say you sold it for $25,000. First, we must remove the realtor’s commission of $1,750 and appliances and furnishings of, let’s say $3,000…and the home may really be worth $20,250. But since the buyer plunked down $25,000 that’s often what it is assessed at. However, mobile homes depreciate like cars do. Unless the land with it appreciates by the same amount that the home depreciates…then those who own mobile homes should get a periodic assessment reduction based on the depreciation or reduced value of their home.

People who live in mobile homes should file an appeal on their property taxes every year...and have a right to do that under Pennsylvania law whether there was a reassessment or not. If the land in your area is not increasing in value... (you can find out at the courthouse what property has been selling for)..then you should demand a reduction in property taxes on your mobile home. And, if you don’t own the land your mobile home is located upon….youshould definitely demand a assessment and tax reduction on a regular basis because, as we said before, mobile homes depreciate in value.

Property taxes are based on someone’s guess of what the value of your property is. We steal 30 to 40,000 homes a year through sheriff sale totally or in part for delinquent taxes that may well have been based on faulty assessments. No wonder the property tax is the most hated tax of all…even hated worse than the federal income tax according to professional pollsters. Remember, property tax reductions are a fraud only to get the governor and legislators re-elected.

–Bob Logue,
STOP Primary Residence Protection Plan.
www.grandoldusa.com and the STOP page at www.spedunkie.com
E-mail: ucblogue@verizon.net

Visitor Comments:

Anonymous says :
I just bought a house for $52,500, that was previously assessed at $66,000. Assessment office said I wont win an appeal because the 66k assessment is on a base year of 2002. Thats UNFAIR! I bought the house at FAIR MARKET VALUE for 52K! WHY am I paying tax on 66K ??!!

I feel we desperately need to base taxes on recent sales/market value (and adjust millage for no windfall), OR NOT TAX PROPERTY AT ALL!

I am just one example of how the 2002 base year rule is unfair and opressive to the middle class, who buy moderatly priced homes!
Anonymous says :
I'D BE BETTER OFF IF MY HOUSE BURNT DOWN, COLLECTED THE INSURANCE, AND MOVED TO A CITIZEN FRIENDLY STATE LIKE GEORGIA WHERE THE TAX BURDEN AND COST OF LIVING IS MUCH LOWER.
Anonymous says :
The "real value" should be the "fair market value", which coincidentaly is SALE PRICE! (excluding familial transfers, divorce decrees, etc...)

Get that straight, Dan Onorato! Ever hear about the UNIFORMITY CLAUSE our States Constitution? You're ripping us off!


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