Tax assessment fails to note bathroom: Trouble?
for over 10 years. It appears that the second bathroom was added about 30 years ago.
Finally, I am currently remodeling my kitchen and primary bathroom. I have all the permits for that work. When the county inspector comes to review the progress will he be obliged to report the second bathroom since it isn’t listed? Do inspectors normally check assessment records and record discrepancies? A:
Let’s start by differentiating between your property’s tax assessment and the many real estate sites on the Internet. You should know that most real estate sites on the Internet compile information about your property from public records including real estate tax assessment sites.
Given that your home has had two bathrooms for 30 years and your tax assessor’s records show your home as having one bathroom, it stands to reason that most websites out there will show your home as having one bathroom.
When you go to list your home for sale, the listing broker will go over the details of your home and will include that information on the multiple listing service (MLS). If you’ve recently remodeled your kitchen and basement, refinished the floors and put on a new roof, the MLS can indicate all of those items. The MLS will also include details about your home’s bedrooms and bathrooms. It will be at that time that you will market your home as having two bathrooms.
Now, having said all that, we have to turn to the issue of the bathroom that has not been picked up by the tax assessor’s office. We know that in some parts of the country, tax assessors will actually make a visual inspection of a home — both inside and outside — when a home has had recent construction or has recently been purchased. However, in other parts of the country, tax assessors rarely if ever make house visits.
The bad news is that in some jurisdictions, tax assessors have the right to correct prior years’ erroneous assessments and send the homeowner a bill for underpaid real estate taxes. Frequently the rules governing erroneous assessments are intricate, but you could bear that additional cost should your local tax assessor find out that your assessment has been in error.
Tax bills are usually made up of complicated formulas that make mathematicians smile and ordinary citizens scratch their heads. For example, a tax bill will generally start with the assessed value of a home: the value a tax assessor gives to the home. The tax assessor comes up with that number using various factors. Among those factors are the age, location and size of the home, along with any amenities it has. Among the factors used may be the type of construction, the number of floors, lot size, the number of bedrooms and bathrooms, and garage size.
The assessor will also use the sales prices for recently sold homes in your neighborhood. They may also use other calculations including the cost to rebuild or build homes in your area. To some people, the value given to a home by a tax assessor might seem to have been plucked out of a hat.
Once your tax assessment is established, the local municipality uses it to compute a tax rate or uses other factors to ultimately come up with your actual tax bill.
For more information, contact Kathryn Weber through her Web site, www.redlotusletter.com
(c) 2014 Kathryn Weber. Distributed by Tribune Content Agency, LLC.