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St Tammany Property Taxes

By
Real Estate Agent with Frank Rubi Real Estate

Earlier this month the homeowners of St Tammany Parish received their new home tax valuations.  Some of these values appreciated 200% in four years.  Four years?  Yes, four years.  Mine personally went up quite a bit.  I still believe mine are fair.  I just hope and pray the local taxing boards don't charge all of the millage allowed.  Then my tax bill would almost triple.

I can assure you many people won't be able to afford their home anymore.  If insurance continues it's steady advance and taxes are charged at the allowable rate many homeowners will see their note go up $300 per month.  How many people have this extra amount to pay.  I will be hard pressed to make ends meet.  The government like us has to cut back when times are very tough.  They should be forced by law to downsize.

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Anonymous
richpie

The 15000 people complaining already are just  the ones who understand what is about to happen to our property taxes without having seen the tax bill associated with the new assessments.   Since the state decided to get involved I hope they will also take a random sampling of the other parishes.   I agree that my assessment is probably right where I would list me house if I were to try to sell it today.  I actually appreciate the idea of an honest assessment however millage was passed with people believing their assessments were reasonably close to accurate. I have been in my house for 8 years.  I was approved for my home based on payng $150/mo in taxes.  I will now pay $400/mo.   How is this legal?  Shouldn't appreciation be capped?  We see how these over inflated property values have  worked for Florida.  Does St. Tammany want to foreclose on more homes?  Being self employed, we are seeing a significant reduction in our income and between the increase in insurance and taxes, our mortgage will go from just below $1000/mo in 2000, to $1200 last assessment year, to probably about $1600 next time they increase it.  Our escrow will be short by $2200 for property taxes and our projection will increase by $2200 so our mortgage will increase by about $400/mo.   Since the state has decided our assessments are short I SINCERELY hope someone will get comparables for all the La. politicians and make sure their assessments are accurate too.   I compared the realty listings and assessments for other parishes and all assessments are significantly lower than listed prices, as is the Louisiana tradition.    So I hope we will find a way to be sure that EVERYONE in the state is paying the appraised value for their home rather than some random number assigned by a politician.   Interestingly, East Baton Rouge doesn't put their assessments online.       I think the homestead exemption should be going up as well.  Realistically we pay some of the highest sales tax because we are supposed to have very moderate property taxes with a homestead exemption.   The homestead exemption was supposed to make it easier for people to keep their primary residence.  At the current levels no one lives in homes in St. Tammany Parish that are exempt from taxes.  So I will look at our first home.  In 1995 we bought a house that qualified for a full homestead exemption , meaning we paid NO property tax.  The next year was an assessment year and we went above homestead exemption.  It was only like $35/mo. but being 25 and paying a mortgage for the first time, we felt it.  That same home will be assessed $1542.92 in property taxes after the exemption under the current projections.    What they have decided is that people who make more money are willing to pay more for their homes here so if you don' have $100/mo in expendable income you should move to another parish.  And as far as rolling back millage, They may do it at first but the Parish adds it back in every year until you are right back where you started.  Just look at your record.  In this situation the politicians are basically given the leeway to do what hey want with property taxes.  Yes they are supposed to roll millage back so that the income of the parish is reasonably increased in relation to the previous year, however that requires that they are trust worthy.  PLEASE do not pass anymore increases in millage!!!!  

Oct 30, 2008 05:43 PM
#1
Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

John, I think richpie covered it all. I agree the local political type should push to increase the homestead exemption which would help many home owners if it where increase to 200k.

Oct 31, 2008 03:37 AM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I hope the millege rate doesn't get you guys down there.  My county and state has laws about the % it can increase in a year, plus we also have laws that freeze the valuation when an owner turns 70, so that elderly people can not be taxed out of their homes.

Nov 01, 2008 11:06 AM