i received my property tax bill (livingston Parish) and my assessed property value had dropped almost 15000 dollars.

should i be concerned about actual value dropping this much or enjoy this decreased bill?

the original 10 or so home in my sub where built at a higher premium higher quality then the remaining lots about 30 where sold to Thompson home builders and they built very low quality houses and sold them for 10-12 grand less than what the original 10 or so paid. lower quality meaning plastic counter tops, particle cabniets 80% siding 20% brick. i have been worried about value drop for some time as id really like to sell my house and upgrade since me and the wife have a baby on the way.

sorry if tl;dr

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Posted by nikki6

New Orleans

Member since Jul 2011

1967 posts

Posted on 11/29/12 at 3:33 pm to gsvar2004

I'm not sure about your exact situation, but I know in a lot of cases the appraised value and the assessed value have absolutely nothing at all to do with each other. In many cases, the actual selling price of a home for sale has nothing to do with either as well.
Example, a friend of mine just bought a house in Ft. Collins for $225,000. It appraised for $230,000 but the tax assessor assessed it for $179,000.

ETA: What are other houses in your neighborhood selling for? The ones that are most like yours? That would be the best way to judge what your home is worth imo

This post was edited on 11/29/12 at 3:35 pm

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Posted by Croacka

Denham Springs

Member since Dec 2008

61441 posts

Posted on 11/29/12 at 4:20 pm to gsvar2004

I got my LP bill as well and my value dropped about 15k from last year as well

Odd

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Posted by Corn Dawg Nation

Member since Oct 2009

3528 posts

Posted on 11/29/12 at 4:47 pm to gsvar2004

Same situation here.... I got my house appraised a month ago and it increased about 30k from two years ago... don't sweat it... enjoy the decreased taxes.....

And to even muddy it some more, my neighbors received letters from Taylor's office earlier in the year stating large increases.....

This post was edited on 11/29/12 at 4:51 pm

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Posted by bryso

Member since Dec 2006

27130 posts

Posted on 11/29/12 at 4:50 pm to gsvar2004

assessed value doesn't determine your homes value...

also in LP i believe they reassess every 4 years... with this year being a reassessment year... I think its safe to say that, across the board, values have dropped over the last 4 years...

enjoy your cheaper taxes! nothing to worry about.

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Posted by gsvar2004

Member since Nov 2007

7951 posts

Posted on 11/29/12 at 11:12 pm to nikki6

The entire neighborhood was started in 2008. Only 1 original house has been put for sale but its fsbobr for about 7 grand over what we all paid back in 08/09. It's only been listed for 2-3 months. No hits. Many of the more recent houses here sold for 10-15 g less than what the original 10-12 paid.

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