what's the tax bill say???
Posted on 08/26/2020 12:29:42 PM PDT by yesthatjallen
Without seeing their property how would a reader know anything but they didn’t like the results?
Ever see how many blacks let their properties get run down? “There goes the neighborhood” isn’t just a stereotype.
what's the tax bill say???
“It was” ... darn typos!
Cities and counties use computer generated revaluations.
They could do it every year but most localities require a revaluation something like every 6 to 8 years.
Every feature about a home is a data point on a program. The locality uses qualified sales from an area during a set time period and inputs the info into the program - which spins around and issues the updated “value”. The localities use that info to set the tax rates.
The system works very well in large subdivisions with cookie cutter homes but can be way off on specialty homes or mixed older and newer homes in the same area.
All it takes is for a few comparable homes to close at lower prices. As the newest comps they are given most weight in the valuation.
Oh, come the f*** on. I’d love to see the address, as well. There are some neighborhoods there that are not nice that are very close to nice ones.
I’m not exactly sure why we need appraisers in the first place. The market should dictate how much a home is worth. Pay the tax on what you paid for the property. I sold my former home in Virginia last summer to a realtor for $430K. Four bedrooms with master on the 1st floor, den, 1 1/2 car garage, ON the Appomattox river with large 2-level dock including boat lift! Appraised for $360K. Smaller house 5 doors down with no dock had sold for $435K only a few months prior.. Realtor who bought it knew she was getting a great house. For the life of me I don’t know what the heck this appraiser was smoking.
If I thought there was a chance in hell this would work down here in Texas, I dye my face with black shoe polish and do my best Amos and Andy imitation,
It doesn’t to me. It happens to (white) female homeowners, female proprietors, female car buyers. Stands to reason it also happens to black homeowners. Something is manufactured outrage if there is no quantifiable result over something like an insensitive remark; but this is about a lot of money, too much to be simply a matter of evaluator variation in a neighborhood with that range of comparable values.
Having sold RE for thirty years, it is pretty obvious to me what happened. Another appraisal was ordered, prompted by a furious homeowner threatening a civil rights lawsuit and discrimination against the mortgage company. Then the attorney homeowner thought she would be clever and move pics around to confirm her paranoia. Having been present at many, many appraisals, I can tell you right now, appraisers do not care what pictures are in the house, probably don’t even look. They are in and out quickly doing general condition, etc, then do most of their property values based on neighborhood comparatives in their offices.
Unless you are homeowner, business owner, taxpayer, or hard worker.
The black folks mentioned in the article are homeowners.
“That’s not a valid experiment.
Appraisers can vary wildly and while it’s possible the first one might have been raciss the mere fact that she called out a 2nd appraiser and probs it invoked racism on the call could’ve meant the 2nd appraiser was ordered to give an above average appraisal....”
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Absolutely true. All banks and lenders know at least one appraiser who will “listen” when the lender lets them know that there’s a target that they’d like to be “hit”. Such accommodating appraisers thought process likely begins with “well, it’s their money”.
This is garbage reporting. When the laws were changed due to Dodd-Frank long ago the banks were REQUIRED to use appraisers from other sources and oft times NOT local ones. I had a city appraiser come out to my country home and ruined my home value with their ridiculous approach and pathetic “comps” used. This is just the NYT trying to stoke racism claims to assist in the “systemic” false narrative.
In 42 years of commercial lending I have read hundreds of residential and commercial appraisals. You have to read them and assess them for accuracy and logic. Never be afraid to challenge an appraiser on their conclusion, they are infallible.
That’s always the case. Facts don’t matter. Recently insurance companies were badgered by Consumer Reports and others into charging the same rates for insurance in ghetto areas as they do elsewhere. Never mind that the risks are substantially higher. It had to be discrimination, right?
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