Re: 2010 worst year for home sales since 1997

For an unknown reason, my government assessed value is still
considerably lower ($50k+) than the value I paid and the typical value
in my area.  It seems like they may be unaware of the major changes
that the previous owner did to the place.  I'm not complaining, it
keeps my taxes lower.

Another weird thing is I was told by my real estate agent and by
friends who had bought the year before that the assessed value now
gets bumped to the purchase price after you buy.  Again, that didn't
happen for me.

For assessments where the value of the home has gone up significantly,
they phase in the assessment over 4-5 years so that it doesn't hurt as
much.

Jeremy

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