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re: Property Tax Assessments
Posted on 9/18/12 at 11:50 am to TheHiddenFlask
Posted on 9/18/12 at 11:50 am to TheHiddenFlask
The reason for my question is that I bought a property in August 2010. I painted inside and out and put up a picket fence. It is rented for $850 per month. The assessed value for 2012 is now 100% higher than what I paid for the property two years ago.
Although the property should be worth more now, it sure hasn't gone up 100%.
Although the property should be worth more now, it sure hasn't gone up 100%.
1
Posted on 9/18/12 at 12:26 pm to tigerrocket
The reason is probably because the property is no longer residential/homestead. Because you rent it out, taxes always double (At least in AL, they do). Probably the reason for your situation.
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