Got a letter several months back talking about how our property value has increased. Yeah sure, yay. Whatever.
Yesterday got a letter telling us how our escrow account is now short by about $1500, due to this property value increase. So our monthly mortgage has increased by $240.
So duCkIng GRaTeFuL that our property is “worth more.”
We have to appeal it every year. The powers that be, instead of raising property taxes, raise the appraised value, instead. It's dirty underhanded shit so the state can claim to have low property taxes. I used to work in a red state county tax appraisers office - when we talk about housing bubbles, we don't look at the role those people have in those bubbles.
I was working there when a big housing bubble burst. People who bought these expensive lots were paying taxes on $200k appraised value. Once the bubble popped their land reverted back to being worth $15k, which was accurate, but those evaluations didn't go down unless the owners called to dispute it. People assumed it'd drop on its own. Nope. (Everywhere is different, of course.)
@MotherDucker 😂 Know the felling😂