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Monday, October 20, 2008

Utah Home Values

The property tax payers in Utah should be asking some serious
questions of their County Tax Assessors office.

According to the latest NBC news report, home values across
the country have dropped 19% in the last year. Some areas such
as California, Nevada and Florida have dropped up to 34%.

The Weber County Assessors office would have you believe that Utah’s
home values are somehow immune from this nationwide drop in
value so they can continue to raise or not reduce your property taxes.
A person in Utah that now pays $3,000 a year in property taxes would realize a $570 drop in taxes if their property were assessed 19% below the previous year.

Some examples: Salt Lake City zip 84108 has had a reduction in home values of
18.39%, Holladay, zip 84117 has had a reduction in value of 14.63%.
These stats are from A Real Estate website in Salt Lake County.
It is reasonable to accept that the drop in values may not be exactly the same
in Weber County, but all we receive are tax increases from our Weber County
Assessor when the entire housing market is dropping in value.

The problem with the Assessors office is they do not readily share
the key information with the taxpayers on how they arrive at the
assessments. From what can be learned, they are inconsistent
and arbitrary and it is difficult to get an explanation when you
have questions.

The Weber County Assessor has to be responsible to some entity,
and it may be the 3 Weber County Commissioners. We should write
and call their offices to get some answers.

Your VCRD Staff