Something's wrong with property taxes

There are three days of the year when the majority of Tri-Cities residents fall to their knees and cry "Why me?" The taxman cometh April 15, June 1 and Sept. 1 every year, rain or shine.

Lately, the last two dates are more stressing then April 15. The downturn in the real estate market has hit me with a double whammy: my home's value has declined, but so has my income since I make my living as a Realtor.

I can buy into the fact that property taxes are tied directly to the value of your home, and I even understand that assessments are based on a three-year rolling average of past sales. What I can't understand is how that assessment is calculated and the logic behind it.

My assessment rose by 4.68 percent in the past year. A spot check of the Geneva assessors Web site shows that most every subdivision in Geneva went up 4.68 percent. This fact is amazing in itself.

The total dollar increase was $390 or roughly $1.07 per day. My "market value" is supposed to be based on sales from 2005, 2006 and 2007.

Because I have access to the MLS, I know exactly what those numbers are for my subdivision. I would expect my "market value" to be around $350,000. According to the assessor, it is $387,927.

I'm a Realtor, not a rocket scientist, but even I know something ain't right.

Your taxes aren't really based on your assessment or market value. They are based on the budgets of the local taxing bodies. Basically, if the taxing bodies continue to increase their budgets, your taxes will continue to increase no matter what your house is assessed.

If you aren't happy with the current state of your taxes, join our group, FACTS. For Accountable Controlled Tax Spending aims to educate everyone on how their local government operates and what needs to be done to improve it. E-mail me at taxfacts@sbcglobal.net and we will get you informed.

Bob McQuillan

Geneva