Inevitable Taxes

Taxes, as predictable as death, right? Well what is the market value of your house? What does that have to do with your taxes? I've had so many people come in and they have their tax things, you should be getting them pretty soon- about that time of the year where you get your tax things and the millage rate and all for your taxes for 2022. By the way, before our accountant, we pay our taxes in the rear so you're just now getting your predictions for 2023, but you're getting your tax bills for 2022. I see this all the time, Brevard county says my house is only worth 75,000, but I know it's worth 225,000. Count yourself blessed when you look at those tax rolls, you really want your market value to be low because that's your taxable value. Now that changes when you buy and sell a house, it automatically corrects itself, but the great news here is in Brevard county, you can only have an increase of three percent a year, and so if you bought the house in 1962, for seventeen thousand dollars, three percent a year, it's little tiny increments right? And so your market values may be very low on your tax records, but that doesn't represent what the market will bear for your house what we would list your house for, in fact we don't even look at that because it really has no bearing on the true market value that you need to do a full CMA comparable market analysis that allows us to look at what other houses are selling for around you and what an appraiser would actually give you for your house that gives you the value, but don't be fooled and don't get angry, say thank you instead. Well- there's the scoop, Edna Wilson, your Hometown Realtor, as Hometown as Apple Pie.