Found 2 blog entries tagged as property tax.

Does the school tax ceiling transfer when a person who is age 65 or older or is disabled or is the surviving spouse (age 55 or older) of the individual moves to another home?

A percentage of the school district tax ceiling may be transferred.

The ceiling on the new residence homestead would be calculated to give you the same percentage of tax paid as the ceiling on the original residence homestead. For example, if you currently have a tax ceiling of $100, but would pay $400 without the ceiling, the percentage of tax paid is 25 percent. If you move to another home and the taxes on the new residence homestead would normally be $1,000 in the first year, the new tax ceiling would be $250, or 25 percent of $1,000.

To transfer the school district…

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Your property tax value is low. I’m Eric Peterson, Owner of Kopa Real Estate. I have good news and bad news depending on how you look at it. Just before you received your 2022 property tax assessment, we already sold a house for $268,000 more the 2022 assessment. To put it in perspective that’s a 38% increase over the 2022 value and we have another home under contract for 42% over the 2022 tax value…and we are only in the first week of April.

That means 3 important things to you right now.

#1. Here’s the good news. Your home is worth a lot more than the tax value and more than you think. If your first thought when you opened your notice of value is that you could never sell your home for that much you will be surprised. Chances are you can…

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