Quote:
Originally Posted by sschuler1
Unfortunately the appraisers are only going back six months on comp sales, and the majority of what is selling around here are repos and auctions. Our taxable value (which is usually much lower than what an appraiser will say your house is worth) is $40 thousand dollars more than what our house just appraised at. Our buyers wanted to roll their closing costs into the sales price also, which meant that the house had to appraise for $6,100 more than the sales price. They now have to come up with their own closing costs because the house appraised for $10,000 less than the sales price that we had agreed upon. Makes no sense that our property taxes are based off of a value that the home doesn't have anymore!
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We went through quite a bit of the same thing as we sold our big old house. In NY, the property taxes continue to rise even though they too are based on "market value" as NYC sees it. Those values have declined somewhat, but they covered it by raising the rate. You can't win.
I'm gald for you that the $10,000 wasn't something to make you walk. It's only money and the aggravation you'd (maybe) have to go through to get another buyer, well it has to have a price! And the longer it goes on, the more flexible you wind up beng.
Best of luck with this one!!