Your Home Increasing in Value – Not a Good Thing

I had been reading about home value going up so high in our area that many older people are losing their homes even though they have paid their mortgage completely. It appears with the value of homes increasing, the tax rate charged per thousand has not changed. So these poor people now find themselves having such huge increases, they can no longer afford the taxes! After years of living in their homes, they will have to sell because of taxes.

Now I more than sympathize, I empathize with them. My mortgage payment is going up almost $250 a month due to increase in home value. However, I think my city is "raping" us as no other homes in our complex have even sold for the amount they are assessing us for and ours is not the most expensive model. We have requested a reassessment, but in the mean time we have to come up $250 more a month. The damn mayor has been touting that - I lowered the tax rate - not by much and considering the fake assessments your office has been claiming, you can damn well lower them significantly further. I think I need to write to the mayor's office.