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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: bentway who wrote (49562)3/6/2006 11:45:48 AM
From: TradeliteRead Replies (1) of 306849
 
<<Perhaps even DC can have a bubble? I hope so. But will the downside be like everyone elses? Or will congress pass legislation to save them in some way? A lot of them maintain residences there.>>

Come on now, Chris.....The U.S. Congress doesn't tell local county tax assessors what to do. And most congressmen don't even own houses here. Our county supervisors (elected officials) can't even control what happens to their own assessments. They HAVE worked on lowering the tax rate, but the assessed value is a formula-type thing based on generalized numbers, and it's up to each homeowner to make a case that his assessment is wrong for one reason or another.

I've noticed that the process for appealing one's assessment requires a great deal of expertise not usually found among the average homeowner. Having some real estate and appraisal experience helps, but not much else will.
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