New Property assesment taxes

[Griobhtha]

The value of our houses has dropped and the only good thing is so has our property tax.. Don't know if that should make me feel better, but i am trying to convince myself that it is a good thing.

[sunshine]

They assessed us lower too but in the letter they said the tax will remain the same.

[mudslinger]

Welcome to deflation. Thanks Obama.

[takncarabizniz]

Gri, our house depreciated nearly $60,000 but our taxes remained virtually the same...I didn't mind the depreciation actually, because when we bought the house, the bubble had overinflated values...which meant a lot of people overextended themselves borrowing against their equity...now those people are in serious trouble...we're on track with our equity still being at almost 100% of the purchase price and since we owe much further below that now, we look good if we have to sell at some point...

[Griobhtha]

Good for you!  We still owe less than it would appraise for sell, but it isn't what it was.