Quote:
Originally Posted by Mrfriendly
Bought Pre-owned May 2021 in Village of Hadley. Not homesteaded. Tax rate decreased 9% and Property Assessed Value went up 19.3%
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Your taxes in October 2021 were based on the previous owner's assessment and exemptions.
As a new owner, your first full year taxes will be based on the true market value of the home and not limited at all by any previous exemptions. Unfortunately for you, there was (is?) a hot market for homes and the value of yours increased 19.3% in your first year.
This year: 19.3% (increase in assessment) - 9.1% (tax rate decrease) - ( a little in school taxes) = 9.6%
Next year the increase in assessment will be the lesser of 10% or the increase in the CPI.
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Why do people insist on making claims without looking them up first, do they really think no one will check? Proof by emphatic assertion rarely works.
Confirmation bias is real; I can find any number of articles that say so.
Victor, NY - Randallstown, MD - Yakima, WA - Stevensville, MD - Village of Hillsborough
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