Watch your taxes go up, and up
When the Batavia Township equalized assessed values were published, I saw an increase of $3,000 or more in the equalized assessed property values in my neighborhood. This increase means a nearly $700 increase in property taxes based upon the 2006 total tax rate of 7.087639.
I also saw a "Notice of Proposed Property Tax Increase for Batavia Park District" announcing a 20 percent increase in the park district's 2007 tax levy. Batavia announced increases in water, electricity and other rates earlier this year. Our 2007 tax bills will have an increased levy and rate to fund the $75 million school district referendum. (Hundreds of dollars?)
The EAV are based, in part, upon higher selling prices of homes in the areas. EAV does not take into consideration days on the market, which have substantially increased.
EAV doesn't consider the very costly renovations and mandatory repairs those homes required in order to get that higher price. For example: At least two homes in the neighborhood had to have foundations stabilized. Several others had to have radon gas mitigated. Others had to have new roofs. At least two homes were nearly gutted and remodeled with new cabinets and appliances and even new heating and cooling systems.
The costs of these repairs should substantially mitigate (lower) the assessed values of the other homes in the area because those homes would most likely need similar substantial repairs in order to get the higher price. Until those improvements or repairs are done, the value of those homes should not have an increase in assessed valuation. An increase in assessed valuation, before repairs or improvements are made, amounts to a pre-tax and a false value.
Additionally, I noticed that some homes are selling for about $5,000 less than they sold last year. All these factors allow for a challenge to the assessed value and I would hope that all of those affected with these unjust increases appeal their taxes. It might be a good idea to join forces with your neighbors to appeal the increase.
Here's another reason to appeal your real estate taxes: Based on a $50,000 income with a 3 percent raise, your income would now be $51,500. Based upon last year's tax rate and the published assessed values, your real estate taxes will go up a minimum of $700.
Yvonne Dinwiddie
Batavia