Re: help reading appraisal from revaluation
Posted by bodhipooh on 2018/2/13 9:12:47
I am not clear why abatement tax will be higher than your actual property tax, according to above info i was given from the abatement tax lady, it should never happen. I guess maybe some building has special non-standard abatement contracts.
This is because some abatements are based on, at least for a portion of the abatement period, on a calculation that has nothing to do with the normal tax rates, but a formula based on the highest purchase price and common charges. It is possible for that formula to wind up creating a number that is higher than the unabated tax bill.
This. Plus, remember that 80% of the previous "effective tax rate" (.8 * 2.1 = 1.68) actually comes out higher than the estimated tax rate for 2018. Abatements were based on a "calculated" effective tax rate that we now know was completely off.
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