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Old 03-13-2019, 07:18 PM  
mystery
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City: Z
Country: USA
Vessel Model: Beneteau Swift Trawler 44
Join Date: Mar 2017
Posts: 665
Quote:
Originally Posted by Mikala View Post
My point regarding real estate wasn’t related to sales tax per se. I recently bought a house to do a whole house renovation and sell. I bought it for cash and paid significantly less than the county appraiser’s value. I received two separate certified letters from the county appraiser questioning the amount I paid for the house, as well as if it was gifted by a relative. I signed affidavits stating the purchase price and no relations or gift. The reason for the exercise, as best I can tell, is that it messes with the county appraisal database by reducing the price of homes sales and ultimately the property taxes the county intends to steal (and waste) from its residents annually.
i believe many stick with the last appraised value unless it sells for more and then they can update to that higher #. otherwise it gets updated in 5 years or whenever they re-do their appraisals. i believe they can also decide to re-assess based on renovations, especially when permits are being pulled it makes it easier for them. i could be mistaken though...
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