Peter Mohylsky (PMI. Destin)

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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

 

Did you say WALL?

 

Property taxes are based on the sales price and increase every year thereafter.  Annual increases do not exceed 2%. 

 

Sep 20, 2022 07:35 AM
Rainer
155,417
Karen Climer
Demetree School of Real Estate - Orlando, FL
Teaching people to pass the real estate exam

I have never had my property tax go down. 

Sep 20, 2022 08:06 AM
Rainmaker
945,981
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

In Arizona, when a property changes hands, an Affidavit of Property Value is prepared and sent to the County Assessor who (along with their appraisers) determine the taxes. I've had the Assessor's appraiser contact me to find out the rents and even the company  annual income for our investment properties! 
No clue how it is done anywhere else, but except where law caps taxes (like CA Prop 13, IDK if it's still like that) increase of property value = increase in property tax . . . YMMV

Sep 20, 2022 07:44 AM
Rainmaker
1,430,641
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Property taxes will always go up.  It's part of the plan.  We're locked to 1% per year and they're trying to do away with that to further destroy our state.

Sep 20, 2022 07:52 AM
Rainmaker
981,713
Peter Mohylsky
PMI. Destin - Miramar Beach, FL

Florida is set up much like other states and we do offer discounts and caps for folks who homestead their homes.  ie live here full time.  Second family homes and investment properties are not afforded the same discounts and there might be a rapid increase of property taxes on these homes next year.  

Sep 20, 2022 10:15 AM
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Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
St. George Utah Area Residential Sales Agent

Up, up, up is the answer for all things right now, with no end in sight, Peter. I avoid hitting walls at all costs and go around them!

Sep 20, 2022 09:22 AM
Rainmaker
575,366
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Yes!  For sure they will rise!  They already are!  And for the people who sold high in the past 2 years ... the little red flag will rise and so will the taxes.

Sep 20, 2022 09:21 AM
Rainmaker
4,336,110
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I have to say yes for sure and will they ever come down remains to be seen

Sep 20, 2022 09:11 AM
Rainmaker
1,024,657
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

With California Proposition 13 added to control runaway property tax increases back in the 1970s, property tax is 1% of assessed value (usually the purchase price) and cannot rise more than 2% per year...no matter what the cost of living increase is. During the recession, due to falling property values, property taxes actually went down for many homeowners. As values have since gone up, so have property taxes.

Sep 20, 2022 08:12 AM
Ambassador
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

we had county wide re-assessments this spring and across the board with school and local property taxes rates going up however our state property tax (which is already very low) is going down so it should most be a wash on the rates, but my assessment more than doubled.  Still wouldn't sell my house for that though.

Sep 20, 2022 12:41 PM
Rainer
46,830
Rosemary Rizzitello
Bloomfield, NJ

My property taxes go up every year even more so after the town reassessed the homes just recently. New Jersey taxes are high in general.

Sep 20, 2022 12:34 PM
Rainmaker
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Doug Dawes
Keller Williams Realty Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

You bet it is

Sep 20, 2022 10:01 AM
Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Since it is government work and done backwards, going up is the only direction they know. They start with the answer (the dollars they need) and work the formula backwards, adjusting the rate and value as needed to get to the $$$$$.

Sep 21, 2022 04:17 AM
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

No need for the mill rate to go us since escalating prices are driving up revenues at the current rate.

Sep 20, 2022 10:40 PM
Rainmaker
2,691,594
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

The government, state and cities all run in the red needing more and more money. Instead of leadership, accounting, talented money managers etc., they all raise taxes. It's so easy to do. I remember seeing gasoline prices climbing the ladder over the decades. From my high school days .28 cents to $5.00 bucks a gallon? They always said it goes for roads, and necessary transportation misc. costs, but it really goes to pension and union funds. Where is this going? America still has the answer. Get a good job. Save your money. Buy Real Estate and live long enough to collect your pension or social security. 

Sep 20, 2022 02:40 PM
Rainmaker
1,358,625
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

They go up annually, so yes!

Sep 20, 2022 02:17 PM
Rainmaker
1,766,916
Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

Our county is be reassessed at this very moment. We shall see. They have been investigating for years that large corps in our county are not paying their fair share with different deals from the villages.

Sep 20, 2022 12:06 PM
Rainmaker
2,080,845
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Our property taxes go up every year Peter Mohylsky  and our last hike was a pretty big hike.

Sep 20, 2022 11:25 AM
Rainmaker
695,913
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

Los Angeles County property taxes will be adjusted higher due to rising prices.

Sep 21, 2022 11:49 AM
Rainmaker
816,709
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

I believe so. Our county will reassess in 2024 and they usually go by the past 3 years sales.

Sep 21, 2022 08:09 AM
Rainmaker
7,039,443
Roy Kelley
Retired - Gaithersburg, MD

Real estate taxes will go up as assessments increase. Also, expect increases in the cost of insurance as policies are adjusted.

Sep 21, 2022 03:48 AM