My son just called me. He got a reassesment for his 2010 real estate taxes. He just bought in Dec. 09 for what we thought was a great deal $25,000 under the assesed valuation for 2009. Guess what they reduced his assesed value by $100,000. As this is his first home purchase and I was the one who did all the number crunching for him to see if it was worth it , we are both upset. It is a short commute to the most stable and largest employer in that town (Microsoft) so it should recover I hope? But $100,000 reduction on a $535,000 house is huge.
Our house only 15 min away went up by $50,000. I think these assesors need math lessons.
|