[Chat] Assessment notices...nothing like it for rousing New Year cheer
WeinsteinM at aol.com
WeinsteinM at aol.com
Tue Jan 1 01:01:55 EST 2008
According to www.dat.state.md.us, here are all the sales on Abell Avenue
(where I live) in 2007:
Date Address Price
10/17/07 3042 ABELL AVE 0
10/10/07 3019 ABELL AVE 275,000
9/25/07 3107 ABELL AVE 280,000
8/20/07 3245 ABELL AVE 275,000
8/17/07 3028 ABELL AVE 264,000
8/16/07 3309 ABELL AVE 283,000
8/16/07 3307 ABELL AVE 174,900
7/25/07 3307 ABELL AVE 140,000
7/23/07 3236 ABELL AVE 268,000
6/14/07 3136 ABELL AVE 235,000
6/12/07 3043 ABELL AVE 281,000
5/8/07 3202 ABELL AVE 0
4/9/07 3205 ABELL AVE 280,000
1/4/07 3006 ABELL AVE 0
Presumably the zeros are refinances. So there were 11 sales, of which
eight were above $260,000
My reassessment takes me from $89,720 to $246,080. On the one hand, this is
incredible. On the other hand, this is apparently probably less than my
house is worth. So it doesn't seem likely that I could successfully appeal the
new assesssment.
One thing that will be interesting to see is whether the new higher
assessments will have a negative effect on sales prices, since new owners pay the full
valuation with no 4%-per-year cap.
Happy 2008...
-Matthew
In a message dated 12/31/07 11:12:06 PM, rob at vees.net writes:
> Our home in Parkville climbed from an actual sale price of $121k in 2002 to
> appraised value of $198k today, or about 8.5% per year over six years.
>
> From its sale in 1992 at $102k to my purchase in 2002 the price of the home
> raised by only $18,150, or 1.6% per year over ten years.
>
> I can't imagine that I would get that much on the open market today (if it
> were possible to sell at all -- some neighbors have been on the market for
> over 12 months now), but comparable properties that _have_ sold went for no less
> than $200k in the last 12 months, so it's hard for me to pull an example
> from recent local real estate transactions that proves the new valuation is
> poorly founded.
>
> Is it reasonable to protest the increase on the basis that my house is not a
> better investment vehicle than my 401(k) in the dot com boom? This is
> housing bubble logic, pure and simple.
>
> --
> Rob Carlson rob at vees.net http://vees.net/
>
>
>
> On Dec 31, 2007, at 9:27 PM, JASON GOUCHER wrote:
>
>
> Hi, Fellow Charles Village Homeowners!
> Anyone else feeling pummeled after receiving their recent Assessment
> Notices?
> We received ours today and our new market value is MORE THAN DOUBLED from
> the previous assessment notice three years ago. Most alarming to me is the
> land valuation MORE THAN TRIPLING from the previous assessment.
> I don't know about anyone else's perception, but living on North Calvert
> Street has not gotten any quieter, cleaner, or less traveled over the past
> three years. In fact, we are still reeling and dealing with the aftermath of the
> recent sewer installation that had us enjoying a very large and deep pit on
> the side of our home for the first quarter of 07.
> Jason and I are obviously appealing this assessment, but were just
> wondering what others were thinking or planning to do in response to their most
> recent valuations/assessments?
>
> Despite this most recent affront from the City and State...really, Happy
> New Year to everyone! Cheers to the Village!
>
> Cathy Goucher
>
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