re: Money in Escrow Account- Tax Assessor Question

Once you get a certificate of occupancy, the value is usually sent to the Assessor and that is your taxable value. If you bought your house through a sale, then that is normally your value until reassessment, which is supposed to take place at a designated period.

That is what is so shitty about local property taxes. The elected Assessor doesn't reassess the properties as they should. So instead of as the revenue comes in they have the authority to hold the millages or roll them forward, they always roll them forward.

The system is supposed to work that as more homes are purchased and homes are reassessed, the overall tax amount per individual property owner should go down, because more people are paying in. However, they put an undue burden on the new purchaser, because they move millages forward instead of hold and don't reassess properties as they should. Wouldn't want to reassess those properties bought in the 1970's, those people vote. I don't think it would change with appointed assessor's either.