Next Year's Property Taxes

Does anyone know the guidelines that the County uses to value a particular home---say one with no additions or improvements?
I have heard that the appraised value is the biggest factor, but I have also heard that it depends upon what homes in that area have sold for in recent sales.
It has become obvious that homes are not selling very well at all now due to the loan crisis. They also are selling more cheaply.
Also, I heard during the congressional hearings that "appraisers" have consistently been overvaluing homes in order for banks to be able to loan more than the homes are worth.
Of course the mil rate can also be raised within certain limitations in order to meet an approved budget.
Has anyone ever heard of personnel lay-offs occurring in the Counties and Cities under circumstances that we now have in that industry? Or, how about reductions in salaries?
I just am curious as to how all this will effect my taxes next year on my property.
It is already a problem in that when my home increases in value it puts no more cash into my pocket with which to pay the ever increasing bills! If I sell it for the money, I'm out of a home!

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Submitted by d.smith700 on Sat, 12/08/2007 - 8:58pm.

What if no homes were to sell next year? How would they value them? Now when banks have re-possessed homes on their books, they have to reduce their assets every year they hold them due to the possibility they aren't going to get their money out of them.
Also, bankers do not like to mow grass on their re-possessed houses.
In fact I have never seen a banker mowing or repairing around an empty house.
Sometimes they will board up the winders and doors to keep homeless out, but not mowing.
Can the county and town and school board raise the mil rate to wherever they want it?

Submitted by McDonoughDawg on Fri, 12/07/2007 - 7:09pm.

Sometimes they use the SWAG method.

That said, why all the handles? Do you think we are that stupid?

Submitted by Bonkers on Fri, 12/07/2007 - 7:16pm.

I figured they added up what they want to spend first.
Then they add up what they took in last year.
Then the determine the percentage difference and add that to all of the old bills for the new year.
New construction and burn-outs are averaged and any left over is gravy.

Submitted by McDonoughDawg on Fri, 12/07/2007 - 7:53pm.

Why not answer it?

Submitted by Bonkers on Sat, 12/08/2007 - 3:23am.

Do you think they do that? Could be! They do ask you to verify their guess if you want to do so.
What handles? What do you mean?

Submitted by Bonkers on Sat, 12/08/2007 - 3:25am.

Doesn't that mean an Australian bum's pack on a stick? Usually stolen.

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