Miles City House and Tax Prices??
Posted by Tnuhotevil (+106) 5 years ago
What's the deal with the crazy high house prices in this town? Never seen anything like it. Where are they coming up with these appraisal values? These $400k and $500k houses buit in the 80's that need a complete remodel would be $300 and $350k anywhere else in the state...and why the high taxes? Assumed taxes were based off appraisal value....obviously not the case. $4 and $5k for taxes??? We want d to buy but the high taxes alone make an affordable house unaffordable. Can someone explain?
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Posted by Tnuhotevil (+106) 5 years ago
No one can explain the taxes? A MilesTown estate house has $6k in property tax for a house that's $350k but a $400k house across town has $3k taxes? Or a new house at $300k has $2400 in taxes but a $180k 1953 house has $4400 a year in taxes? Not sure how all this works? Do some get special treatment over others when here taxes are higher? It's obviously NOT based off property value.
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Posted by David Schott (+17519) 5 years ago
The difference could be due to a variety of things. One home may be inside the city limits whereas the other is outside the city limits. One home could be subject to an additional tax such as a local/special improvement district. Older homes that haven't sold recently may not be assessed as high as their true market value -- but once they sell their assessed value could increase and the tax would go up accordingly. Also, just because someone is asking a high price for a home doesn't necessarily mean the house is worth that much.

Your real estate agent might be able to help you make sense of the discrepancies you are seeing.
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Posted by Tnuhotevil (+106) 5 years ago
Understand. I tried to compare a lot of these houses side-by-side that have been purchased and re-sold in the last two years and taxes just don't jive. For instance are home the taxes are 2300 a year. The next-door neighbors house is 4700 a year with the same appraised value. Just doesn't make any sense
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Posted by r martelle (+867) 5 years ago
The appraised value used for taxation is not the same as the appraised value that may have been arrived at during the sale and for lending purposes.
For taxation, the appraised value is set by the Montana Department of Revenue. They have a formula that is used to arrive at the taxable valuation. And, as Chuck said, there may be other factors, such as size of the lot, type of construction, size of the house, garage attached or detached, fireplace, built-ins, and much more.
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Posted by r martelle (+867) 5 years ago
Sorry David, I don't know why I called you Chuck.
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Posted by Amorette Allison (+11978) 5 years ago
The state just did a BIG re-assessing of all property a year or two ago. My house tripled in assessed value but my taxes didn't go up triple. They went up but not as badly as I thought they would. Were I to list my house for sale, I would ask more than the assessed value because what it were to sell for and what it is assessed at are not exactly the same.
If you have major questions, ask the local assessor at the court house. Nice guy.
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Posted by Dave Roberts (+1512) 5 years ago
All I know is that I'm regretting the corner lot with three car width driveway. Not so much because the taxes are higher, and they are, but wow! that's a lot of concrete to shovel snow & ice from.

Almost makes exile to Waikiki look good.
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