My house took a pill ... and now it's not worth the inflated tax bill.

The Appraised Value of the home is less than the Tax value....rats

This can be a really is a hard pill to swallow.

This unfortunately common experience is replicating everywhere with the advent of declining market values combined with REO and short sales.

May I suggest another pill...A trip to the tax assessors office, armed with your "New" data.

The "science" of taxing your house is based on a formula derived (at least here in Charlotte) on the value of your house. Taxes on homes (just as value) have gone up over the years. So when a market correction happens, and your home is taxed over it's value, you should challenge the tax on your home.

This is not a fruitless activity. I have had recent sales that led my clients, after closing, directly to the local assessors office. This has resulted usually in a lower tax bill. (as it should).

While the result doesn't return big bucks, even if it's only a teacup at a tea party, It's worth the effort.

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