[Chat] Assessment notices...nothing like it for rousing New Year cheer

[JASON GOUCHER]

Good morning....thanks, gentlemen, for your opening discussion comments.  I remain unclear, however, as to how land value alone could have climbed from 30 to 40 K three years ago to 140 K in this latest assessment.  Again, Calvert St offers no beautiful water view, quiet cul-de-sac, bucolic vistas, etc......  
I did appeal an assessment two cycles ago and won.  At the time, in referencing the property worksheet I was sent, I found errors with regard to the number of bathrooms and kitchens assigned to the home, as well as made the case then for the noise and pollution factors impacting my home due to location.  
Despite the property values having risen in recent years in CV (and, yes, I would imagine the rising assessments as having the potential to negatively impact future home sales in the area), I continue to feel unshaken in my resolve to appeal...
Cathy
  ----- Original Message ----- 
  From: WeinsteinM at aol.com 
  To: Chat at charlesvillage.info ; discussion at charlesvillage.info 
  Sent: Tuesday, January 01, 2008 1:01 AM
  Subject: Re: [Chat] Assessment notices...nothing like it for rousing New Year cheer


  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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