My property tax assessment increased 22 percent while taxing district budgets increase a max of 3 percent; something is wrong with the formula.
The current calculations of value do not take into consideration the effect of developers. The practice of buying and then bulldozing, removing all of the trees, dividing the property and building two monoliths is not in keeping with the character of the neighborhood, increases density and skews sales numbers.
Now my 103-year-old house (828 square feet) is assessed at the same rate per square foot as a brand new house. I cannot sell my house for the same price per square foot as a brand new home. This current assessment is more than my purchase price at the height of an overvalued market in 2008, before the market correction.