verratti4

I posted another topic last week entiled TAXES help please! where I stated that the house i just purchased for 93000 10 months ago is now at 114840 thanks to appraisal district. i posted asking weather or not this could be protested etc. But it got me thinking i pay about $74 on private mortgage insurance if my market value is now 114840 i believe i now qualify to cancel pmi, because now i guess my loan ration is different. Has anyone ever canceled their pmi when their market valued increased? Would another appraisal company value the same way the district does? the reason my properety value went up is because my lot value went from 3500 to 20,000. And so I had another question, if I protest now and possibly get my appraised value down to closer to what i paid, then in a few months pay to get the home reappraised, would the independant appraiser look at my property records as far has my tax values etc or will he just look at the other houses in my area that now have a market value like or over the 114840. since the values just went up there hasnt been any house sell for that in my area (subdivision). I would love to be able to cancel that pmi, and save on my property taxes, and or do both at the same time. Is any of this possible ? have you done this ? , know someone who has done this ? or have any suggestions weather this is possible or im just wishful thinking. thanks Emily

I dont mean to high jack this posting, but i have been reading this post and my post entilted TAXES Help please!! sounds around like this. there a have been alot of good answers on this post if anyone would read and give me some more ideas i would be eternally grateful. this is my first house first protest, and im scared as He** thanks Emily

Thanks to all who answered. I did file a homestead as soon as i bought the house july 2007 , the previous owner did not have a homestead on this house, I am getting the homestead exemption this year but since i have no homestead cap i pay the full taxes on the 114,000 that my home now apprasies for. but all my other neighbors will only pay taxes on their cap 10 percent value, everyones value went up, but im guessing its like everyones got market value which is like mine at 114,000 then they have assessed value because of their cap so they are only paying taxes on like 80,000-100,000 . my assessed and market value are the same since i had no cap. what i dont know is can i fight the fact that i am paying taxes on 114000 when everyone is paying taxes on lower values or is that just how it goes? when i called and talked to the appraisel office she said my cap would be effective next year so my taxes wouldnt go up over the 10 percent, but my cap will be at 114000 when everyone else is at 80-100000. since my appraised and market value are the same can i appeal on the basis of unequal compared with others. since technically the value that i am paying my taxes on compared to theirs is unequal. I have no problem paying my taxes but since i just paid 93000 for this house, i thought a 21000 price increase was kinda harsh, there is no way i would get that if i sold the house tomorrow. again i truly appreciate all who answered, these posts are extremely helpful. Emily

I bought my first house july 2007 i paid 93,000, my lot was valued at 3500 as was the whole neighborhood, i got my 2008 appraised value in the mail and the lot went up to 20,000 so now the total value- market and appraised is 114,840 my neighbors all have homested exep, so they have caps so everyone here is paying taxes on appraised value of like 80,000-100,000 i went to my county website and checked the whole block. most of the homes values were like mine except when they put the cap on the tax value dropped, so im going to pay like 500-600 more taxes because this is the first year i owned my home, can i protest this? i will try if i can fight the cap appraised value i mean my home value will always be higher, im being punished beacuse i didnt have a home to homestead last year. i could afford a 93,000 house not a 114,840 house in the same year, i am clueless to what i can do, any help would be much appreciated. thanks to all in advance. Emily Before i figured out i could add to this i added to this at the bottom. thanks all Emily