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« Last edited by yesitsme on August 23, 2018, 02:21:17 PM »

Author Topic: Take Back Lakewood  (Read 258428 times)

Offline MidwestJoe

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Re: Take Back Lakewood
« Reply #2265 on: July 05, 2017, 12:01:37 PM »
Anyone living in Lakewood get their 3rd quarter tax bill? Taxes on my 50 year old home went up $2k

Offline yelped

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Re: Take Back Lakewood
« Reply #2266 on: July 05, 2017, 12:14:26 PM »
Anyone living in Lakewood get their 3rd quarter tax bill? Taxes on my 50 year old home went up $2k
That's how much mine went down.

Thank you.

Seriously speaking, the older homes that were massively undervalued are now paying the correct market value and the new ones more or less stayed at the same value, so they're correctly paying a smaller share now.

Offline jackofall

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Re: Take Back Lakewood
« Reply #2267 on: July 05, 2017, 12:38:52 PM »
That's how much mine went down.
Same
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Offline MidwestJoe

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Re: Take Back Lakewood
« Reply #2268 on: July 05, 2017, 01:39:18 PM »
That's how much mine went down.

Thank you.

Seriously speaking, the older homes that were massively undervalued are now paying the correct market value and the new ones more or less stayed at the same value, so they're correctly paying a smaller share now.

The house wasn't massively undervalued, although it was undervalued due to the fact that last reassessment took place in 2010, right after the last crash. I had an appraisal done and also did 2 online appraisals, none of them assessed it as high as the Township did. I know in my neighborhood, the older homes were assessed above market value. They assessed all the homes at the same rate as one home sold for. That home was an outlier, no other similar home sold for that price.

What I am wondering is, was this done in all of Lakewood, where they overvalued the older homes, or just in my neighborhood. It benefits the builders, as there homes are assessed at the sale price. The fact that the older homes in my neighborhood were assessed at $40k above any other appraisal makes me suspicious.

Offline flyingace

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Re: Take Back Lakewood
« Reply #2269 on: July 05, 2017, 01:46:28 PM »
Tax evaluations in my neighborhood also raised values on old houses. Unfortunately, there are  no comps to use for reassessment as people are paying a lot for the land. And there is no way to separate the assessment into land and house values. My land went down a drop and the house went up.
One massive house on a block will raise everyone's taxes. People do not realize that when they knock down a bungalow to build a mansion....

Offline MidwestJoe

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Re: Take Back Lakewood
« Reply #2270 on: July 05, 2017, 01:52:56 PM »
Tax evaluations in my neighborhood also raised values on old houses. Unfortunately, there are  no comps to use for reassessment as people are paying a lot for the land. And there is no way to separate the assessment into land and house values. My land went down a drop and the house went up.
One massive house on a block will raise everyone's taxes. People do not realize that when they knock down a bungalow to build a mansion....

It shouldn't work like that. If you live in a neighborhood, were people are only buying houses as tear downs, an old house isn't worth much more then a lot. there are not a lot of houses for sale in my neighborhood, but the last 4 or 5 that were sold were all knocked down and replaced with big houses and rental basements. It is almost as if the Township is forcing people to build new homes with rentals so people can afford their taxes.

Offline flyingace

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Re: Take Back Lakewood
« Reply #2271 on: July 05, 2017, 01:57:23 PM »
I tried that argument. How can my old house be worth more today than ten years ago? Maybe the property, but not the house! Did not make any impression. I actually found a mistake on the assessment and still had to pay 150.00 to reassess!
They do not let you argue on a portion of the reassessment, only the total. And there are very few comps to use...

Offline MidwestJoe

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Re: Take Back Lakewood
« Reply #2272 on: July 05, 2017, 02:32:51 PM »
Makes you wonder why they are so stubborn about jacking up the values of older houses. I do have some comps in my neighborhood, they are ridiculously low, probably family selling to family, but they have no comps of similar houses to justify their valuation. I think I am going to appeal with an attorney, just need to run the numbers and make sure I will save enough for it to be worthwhile.

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Re: Take Back Lakewood
« Reply #2273 on: July 05, 2017, 02:36:54 PM »
Makes you wonder why they are so stubborn about jacking up the values of older houses. I do have some comps in my neighborhood, they are ridiculously low, probably family selling to family, but they have no comps of similar houses to justify their valuation. I think I am going to appeal with an attorney, just need to run the numbers and make sure I will save enough for it to be worthwhile.
Double check but I believe it is too late for this year.
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Offline MidwestJoe

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Re: Take Back Lakewood
« Reply #2274 on: July 05, 2017, 03:20:04 PM »
It is, but I would do it for next year. Right now, I am paying significantly more for property taxes then I am for my mortgage, and I get no busing for any of my children. Just got notice that one is to close 1.9 miles, nd they would have to cross New Hampshire Ave.

Offline Dawie

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Re: Take Back Lakewood
« Reply #2275 on: July 05, 2017, 04:09:13 PM »
It is, but I would do it for next year. Right now, I am paying significantly more for property taxes then I am for my mortgage, and I get no busing for any of my children. Just got notice that one is to close 1.9 miles, nd they would have to cross New Hampshire Ave.
ask Yudel what to do

Offline takebacklakewood

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Re: Take Back Lakewood
« Reply #2276 on: July 06, 2017, 09:06:16 AM »
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Offline takebacklakewood

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Re: Take Back Lakewood
« Reply #2277 on: July 06, 2017, 10:31:30 PM »
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Offline takebacklakewood

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Re: Take Back Lakewood
« Reply #2278 on: July 06, 2017, 10:43:42 PM »
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Offline takebacklakewood

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Re: Take Back Lakewood
« Reply #2279 on: July 06, 2017, 10:44:30 PM »
Tonights Master Plan Density meeting