Steel Valley Football;866057 wrote:It's every three years.

Your statement that it may be different elsewhere is dead on. I know of dozens of developments with 80-200 properties in central Ohio where the assessments were high when they were built due to builder financing. It's just a matter for on how to appraise them all with two kids under two and a half lol.

One thing is cetain tho: the county will never lower your assesment. In some counties, its just about sending a licensed appraisal w your paperwork and it's processed cuz they are so busy. I saved a friend in Upper Arlington $600 and change every half by lowering his assessment. Three years from now they'll keep it the same because of no sales activity on it, three years from then the same, and so on. If theres a sale it will change. But that's a lotta money I saved him for a $300 appraisal fee. How could you not look into in when it's free to crunch the numbers on county website, ya know?

Con_Alma;866113 wrote:Getting a lower assessment doesn't lower your mortgage payment. It may lower what you are paying in RE taxes but your mortgage requirement would remain the same..

The question was about his mortgage payment not the amount he transfers to them that may or may not go into escrow to cover taxes.

You could have just as easily told the poster to get better rates on his homeowners insurance. It would have improved his cash flow but it didn't answer his question about lowering his mortgage.

WebFire;866161 wrote:Thanks for the info. I do wonder why you say that the assessment will never go up without a sale. This is not true. Otherwise, I'd still being paying on the assessment from when I bought my house, which was only in the $40k area.

Regardless, I never once said he shouldn't try it. In fact, I said the opposite.

Con_Alma;866113 wrote:Getting a lower assessment doesn't lower your mortgage payment. It may lower what you are paying in RE taxes but your mortgage requirement would remain the same..

The question was about his mortgage payment not the amount he transfers to them that may or may not go into escrow to cover taxes.

You could have just as easily told the poster to get better rates on his homeowners insurance. It would have improved his cash flow but it didn't answer his question about lowering his mortgage.

Steel Valley Football;866287 wrote:By and large, the auditor will adjust property taxes to reflect the most recent arms-length transaction and, with the current market downturn, generally leave them alone. It sounds as if your county is raising assessments across the board without justification. Unless, of course, they providing special services that the other 87 Ohio counties are not.

WebFire;866161 wrote:Thanks for the info. I do wonder why you say that the assessment will never go up without a sale. This is not true. Otherwise, I'd still being paying on the assessment from when I bought my house, which was only in the $40k area.

Regardless, I never once said he shouldn't try it. In fact, I said the opposite.

Steel Valley Football;866290 wrote:I never attempted to answer his question. The reason is that I don't agree with him reneging on his original obligation. Instead I gave him a viable, legal and moral, means of lowering his mortgage payment; which is, in effect, the information he was seeking.

Con_Alma;866561 wrote:My comment wasn't directed to you but rather the original idea posted about RE taxes being used as a response to the original question about his mortgage.

My post just happened to be right beneath yours.

WebFire;866163 wrote:You are technically correct. But if his bank requires him to escrow his property tax and insurance, then getting lower rates on either would lower the payment he makes to the bank.

Steel Valley Football;866565 wrote:Why didn't you address the other advice given that didn't specifically answer his question?

Con_Alma;866571 wrote:I don't know to be honest. As I started reading the thread the first offtrack offer was about re taxes and I immediately posted when I got to that point.

Steel Valley Football;866544 wrote:Actually, your refi had nothing to do w your assessed value going up. The county isn't privy to private appraisals. If they raised yours then they raised everyone's in your section as defined by their borders. Counties do mass appraisals for assessment purposes. But that still doesn't explain why they raised them in the area. My guess is research in your county would show stagnant or declining values currently. They should have put a freeze on them.

Con_Alma;866567 wrote:...which is why I said the "mortgage" payment would be lowered. His question was about his mortgage.

Is there any advantage to escrowing taxes and insurance costs? When people do this are they not usually at least a month in advance?

Con_Alma;866567 wrote:...which is why I said the "mortgage" payment would be lowered. His question was about his mortgage.

Is there any advantage to escrowing taxes and insurance costs? When people do this are they not usually at least a month in advance?

Steel Valley Football;863733 wrote:He is correct. I've done lots of reassessment appraisals. I can tell you how to start if you want.

imex99;867439 wrote:Please tell

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imex99;901412 wrote:Just received our updated 2011 appraisal... Freaking ridiculous! Worth 182,000 in 2010 but only worth 159,000 now.

No way it dropped that much in licking county.

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imex99;902450 wrote:We refinanced just two years ago and the house 3 houses down didn't change at all...

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