It would take me an hour to parse even some of this: Fairness questioned in new assessments for eastern suburbs. Hard to skip the conclusion that it sews more confusion that it alleviates. Again, for most all residents the issue is how their taxes change relative to their taxing body. That is all that matters to the bill they pay in the end.So first factoid is Rankin’s notional +75% assessment increase. I kind of knew this was going to happen with a number like that. First:No mention anywhere in the article that the so much of Rankin is a housing project or commercial valuation in some form or another. About the extreme in the county when it comes to what portion of their land is actually made up of taxable residential property.
Still.+75%.Still sounds horrible for the minority of residents inthe municipality that actually.Does that mean those homeowners are expecting on average to see their tax bills go up some big chunk (nowhere near 75% mind you, but still an increase).No.The 75% is a change in total value.Residential values went up by 59.7%. Still, that is before any tax rate change. Still odd for a municipality in such a situation yes? Remember you are not talking big numbers here for the taxable property that is all the numbers are talking about.Total residential value in Rankin is just $14.7 million in the NEW assessment. Smaller than any municipality in this dump other than Wall, PA which has only 560 residents... maybe a quarter of Rankin (where is Wall actually?) Rankin residential valuation was only a total of $9.2 million in the previous assessment.So what could have caused a $5.5 million jump?Funny that the county says it has in just recent years spent nearly $8 million focused on housing improvements just in Rankin according to the PG's own coverage of it. I think it is more if you add up over the decade. Seems that if you spend nearly $8 million in a community with $9.2 million in residential housing value you might not be suprised that you nominally see $5.5 million increase in assessed value. Sort of pathological in it's way, but that is a bigger topic. Missing the forest for the trees would be the pithy way to put it. We just don't understand our own problems which gets to the real point of why we never seem to be able to solve them.
I will skip the other 30 points that drive me nuts just scanning that. Nice that they got the data out there on the total value changes by municipality which folks need to know to understand their assessments. Most won't get it from the county it seems, or from blogs.
You know what someone needs to do? Create yet another county assessment web page where you can plug in your address and it gives you the aggreggage assessment changes for your property, for your municipality and your school district and then compute a first pass at how much your property tax bills will change. Wouldn't that be helpful to a lot of people? Again.. what most care about at the end of the day. and the big picture question nobody wants to touch. New assessment numbers unfair to low valued homeowners? You bet. Nobody wants to talk about how unfair are the current assessment number? Funny nobody has parsed those numbers in this detail in the 6 years this assessment case has been litigated.
Alas.. even if I could get someone to fund that new web site.. just no time. But someone really ought to do it.