My Property Tax Assessment Grievance - Part II

[Jeff '79]

https://www.thevettebarn.com/forums/...ght=assessment

So they lowered my Assessed Value from $106,000 to $96,200.
Now I'm in the process of looking for the formula to figure out what that equates to for the Full Market Value.
They sure don't make it easy, as I have been searching on line for over a half an hour now.
In a nutshell my taxes will be $674.38 less than what they would have been THIS YEAR.

YEAR OVER YEAR, my town tax will go down only $31.00 !!!
I haven't got the school tax bill yet, so I can't figure that out yet.
I'm going to the next level, which is a Small Claims Judicial Review, which has nothing to do with the people in my town. It is an independent review board.

Back to hunting for that formula.
At $106,000 assessed value, my Full Market Value is $302,857
WTH is the new Full Market Value of the Assessed Value of $96,200? ???

[Jeff '79]

Tell me if I'm figuring this correctly.

assessed value ÷ full market value = rate

Old figures : 106,000÷302,857 = .35

Given that, the new figures :

96,200 ÷ X = .35 , making X = $274857, the new full market value. which is close to the number that I was going for.

If that's the case, I'm ok with that.
That being the case, our taxes have skyrocketed in the last two years...

I couldn't find their formula, so I just derived it from the numbers that I had.
Seem right ?

Old Full Market Value = $302,857
New Full Market Value = $274,857

[Norm]

Jeez, there's math involved, I can't contribute a damn thing.