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Author Topic: THIS IS NOT A TAX BILL....  (Read 1511 times)

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Offline Burke

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THIS IS NOT A TAX BILL....
« on: February 24, 2009, 06:16:04 PM »
Home owners now see this mailing as a bad news, not good. My SEV went down $5,900.00! :o

Yikes.

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Offline tramp

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Re: THIS IS NOT A TAX BILL....
« Reply #1 on: February 25, 2009, 03:41:37 AM »
yea, mine went down too
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Offline BIKE

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Re: THIS IS NOT A TAX BILL....
« Reply #2 on: February 25, 2009, 04:43:47 AM »
SEV?
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Offline Duke McDukiedook

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Re: THIS IS NOT A TAX BILL....
« Reply #3 on: February 25, 2009, 06:26:21 AM »
SEV Schweizerischen Elektrotechnischen Vereins
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Offline goon 1492

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Re: THIS IS NOT A TAX BILL....
« Reply #4 on: February 25, 2009, 06:41:00 AM »
Que?
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Offline Duke McDukiedook

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Re: THIS IS NOT A TAX BILL....
« Reply #5 on: February 25, 2009, 07:11:41 AM »
That was my best guess from the acronym site. I think they are talking about their yearly home tax assessment thingy that was mailed out.
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Offline Gordon

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Re: THIS IS NOT A TAX BILL....
« Reply #6 on: February 25, 2009, 07:17:44 AM »
State Equalized Value?
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Offline bradweingartner

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Re: THIS IS NOT A TAX BILL....
« Reply #7 on: February 25, 2009, 07:18:30 AM »
State Equalized Value

It's half the cash value of your home and is the basis for which property tax is paid. Higher SEV = Higher Taxes.

I guess some people don't like to see their property value go down though, even if the taxes follow.
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Offline lynchj

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Re: THIS IS NOT A TAX BILL....
« Reply #8 on: February 25, 2009, 07:58:40 AM »
I'm not 100% on this but if the SEV goes down then the Grand List for the town goes down too but your property taxes are based on the Grand List and the Mill rate. The mill rate would have to go up to keep the same amount of cash coming into town.
 Based on the Obama speech last night home owners are supposed to see a tax cut and opportunity to refinance at a lower rate, assuming you have been making payments all along ???. Not sure how all this hocus pocus will play out in the end but something has to happen fast or we all are going to be collecting unemployment.
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Offline Bob Wessner

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Re: THIS IS NOT A TAX BILL....
« Reply #9 on: February 25, 2009, 08:35:18 AM »
Quote from: bradweingartner on February 25, 2009, 07:18:30 AM

It's half the cash value of your home and is the basis for which property tax is paid. Higher SEV = Higher Taxes.


That is the commonly held belief, but not necessarily so. I know the value of our home must have declined in all this, yet our SEV remains the same and our taxes, outrageously high as they are, have remained the same. :(
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Offline azuredesign

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Re: THIS IS NOT A TAX BILL....
« Reply #10 on: February 25, 2009, 08:39:06 AM »
Hmm, That's interesting. I going to check with my town hall to see if assessments have been re-evaluated comensurately with the decline in property values. Thanks for bringing this up!
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Offline Duke McDukiedook

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Re: THIS IS NOT A TAX BILL....
« Reply #11 on: February 25, 2009, 08:47:32 AM »
Quote from: Bob Wessner on February 25, 2009, 08:35:18 AM
Quote from: bradweingartner on February 25, 2009, 07:18:30 AM

It's half the cash value of your home and is the basis for which property tax is paid. Higher SEV = Higher Taxes.


That is the commonly held belief, but not necessarily so. I know the value of our home must have declined in all this, yet our SEV remains the same and our taxes, outrageously high as they are, have remained the same. :(

Yeah, what nitwit assessor is going to assess lower values?? The cities want to see more tax dollars coming in to the coffers !
I will be pretty peeved if I find out my Johnson county tax assessment went up this year!  >:(
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Offline bradweingartner

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Re: THIS IS NOT A TAX BILL....
« Reply #12 on: February 25, 2009, 09:01:55 AM »
Quote from: Bob Wessner on February 25, 2009, 08:35:18 AM
Quote from: bradweingartner on February 25, 2009, 07:18:30 AM

It's half the cash value of your home and is the basis for which property tax is paid. Higher SEV = Higher Taxes.


That is the commonly held belief, but not necessarily so. I know the value of our home must have declined in all this, yet our SEV remains the same and our taxes, outrageously high as they are, have remained the same. :(

Well the SEV, is calculated once (usually at the purchase of the home), stays the same regardless of free-market value at the time. However, if your property value has declined significantly, there is some way you can have the SEV reevaluated. But good luck whenever the government fears a reduction in income!
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Offline BIKE

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Re: THIS IS NOT A TAX BILL....
« Reply #13 on: February 25, 2009, 11:12:39 AM »
Oh.  Got it. 

The assessment in my area goes like this:  Market value - 30% = taxable value. ::)
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Offline goon 1492

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Re: THIS IS NOT A TAX BILL....
« Reply #14 on: February 25, 2009, 01:26:07 PM »
Man my house went from 100K when I bought it 5 yrs ago to 140 at the start of last year, not sure what its at now and scared to look...
was at the time the best I could find for 100k any thing lower than that and I would have had to put about 20k onto it just to make it suitable for my family.... Its by a golf course too, and sitting on an acre... That's usually a plus not sure why because I don't care for stray golf balls...
Ya'll otta' show some pics of your house while were at it, I got a few of mine summer and winter...
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Offline jtb

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Re: THIS IS NOT A TAX BILL....
« Reply #15 on: February 27, 2009, 05:31:10 AM »
Nice setting, Goon.  Where at in KCMO?  I lived across the line in the 60's.
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Offline goon 1492

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Re: THIS IS NOT A TAX BILL....
« Reply #16 on: February 27, 2009, 06:42:45 AM »
It is nice thank you, Its called Kansas City Acreage Estates. That's just glorified bull for its an old neighborhood, one of the last ones built in KC with and acre or two of land back in the late 50's, then they started making yards smaller after that. Mine was built in 56' I do believe, back before the age of particle board took off for house building. ::) :P :P We are still on septic system too, so I guess I am green with recycling my waste :-\, when I first moved in I noticed I was paying a sewage waste tax, I thought I am getting taxxed for getting rid of my own waste?! :( then noticed I was getting taxxed for curb and gutter for the street out front and I don't even have that, its a dead end street that is so skinny its considered a one way street too, I got that settled and the taxxes taken off and now its just a game of maintenence....
I live on the north side two minutes north west of Worlds Of Fun.
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