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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: CommanderCricket who wrote (21933)1/21/2005 1:59:13 PM
From: Tommaso  Read Replies (6) of 116555
 
Even people who own their homes outright, or who have paid off most of their mortgage, go around feeling richer than they really are and are pleased at the high value of their property. In the city I live, state law requires reassessing property every seven years. My reassessment almost tripled. I appealed it, using every argument I could think of and examples of comparable properties that have sold recently, and I got the assessment cut by about 25%, meaning 25% less property taxes for the next seven years, a very big saving. But when I studied the county tax records online, I found that of all the people I knew, some of whom talked about appealing the assessment, I was the only person who actually did.

I think they are proud to live in such wonderful expensive houses.
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