Property Assessment

[maud gonne]

I'm in shock. The five acres with fixer that we bought in May has gone up astronomically in value according to the Hawaii Taxing authority. We've done very little to it in terms of developing or fixing. Anyone else get a similar shock in the mail? (It wasn't a tax bill but rather a notification of a change - BIGTIME! - in assessed and market value.)

[Nate SC]

Our taxes are going down. They(the Man), reworked our property value so we actually lost about 40K in value but the taxes will drop acordingly as well. It's not all bad news I guess?

[Cali Hi]

Me too!
The 'value' of my house more than doubled, the land value stayed the same. A person could faint or something!


Cheers,

Jen
California/Hawaii

[John S. Rabi]

The system is totally screwed. I had three of my properties losing value in 2007, one remaining the same and one increasing by 25%! (The last two must have been the work of bystander.) [}]

Aloha,
John S. Rabi ABR,CM,CRB,FHS,PB,RB
808.989.1314
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"

[missydog1]

Me too!
I spent 45 minutes on the phone with the tax office yesterday. Their answer is that the old values were way below market value and they're bringing the assessments up to something like market value. You can appeal if you can reasonably argue that it's above market value, but I can't do that.

I'm still in shock at the jump though, because I hadn't planned for it.

[kani-lehua]

i previously posted in another thread that my lot up at mauna loa estates was assessed 5k below the previous year. can't remember about my homes in kapolei and kailua (o'ahu), but i'm almost positive that they went down.

malia paha o lohe aku

perhaps they will hear

[Guest]

Appeals

I know a lot of people were upset on Oahu about having to pay more on there property then they thought it was worth.

[kani-lehua]

sorry, this is about o'ahu again. my neighbor across the street somehow subdivided his home with a attached cottage into two separate residences. he sold the cottage app. 4-5 years ago for $300k. then, when it was really booming in the market a couple years ago, it was sold again for $500k. wholly c@#$%! most of the houses on my street are assessed at over 1 million????!!!! this is kailua.

malia paha o lohe aku

perhaps they will hear

[bystander]

quote:

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Originally posted by John S. Rabi
(The last two must have been the work of bystander.) [}]

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You busted me. I work in the county real property tax office. LOL! just kidding!

[mgeary]

quote:

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Originally posted by KathyH

Me too!
I spent 45 minutes on the phone with the tax office yesterday. Their answer is that the old values were way below market value and they're bringing the assessments up to something like market value. You can appeal if you can reasonably argue that it's above market value, but I can't do that.

I'm still in shock at the jump though, because I hadn't planned for it.

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Just curious, I'm sure I could find an answer by Googling or hitting Damon's link, but I have a not-so-hidden agenda: Do you have an elected County Assessor?

The not-so-hidden agenda part is that the gist of what you posted (and the others on this thread) sounds like bullsh*t incompetence, malfeasance, or cronyism on the part of the Assessor, to me. Markets fluctuate, but appraised values should fluctuate with less volatility, IMHO, because there is a predictable, general, slow increase in property values, when considered over decades-long time periods. Right John R.? AV shouldn't necessarily be in a 1:1 correspondence with MV, year to year. If it's as bad as it sounds, VOTE the guy (gal?) out of office.

Aloha! ;-)