[StBernard] Home values

[Westley Annis]

Jer,

How many times have you heard people say "I got my home assessed for less
than what I paid"?  That is now going to come back and haunt a lot of folks.

The only hope will be if there is a way to contest the value the LRA says
your home was worth.  At that point you may then be able to either get an
appraisal or, if your purchase was close enough, to show the actual amount
you paid for the house.

This is just another reason I am a big proponent of killing the homestead
exemption.  It will help kill the power and corruption within the various
assessors offices.  With a little luck, it will also help reduce taxes.

Remember, property taxes can be deducted from your federal Income tax, but
not sales taxes.

Westley

-----Original Message-----

I was at the parish's accessor's office and was stunned to find PRE-Katrina
values of homes in my area at $93,000 rather than what I thought was
$130,000! Above Genie St from Lyndell to Karen.

Values were hovering $110,000 ten years ago, it seemed, and the market was
strong being a Seller's market with people looking for homes in that area of
Chalmette. Why did the values drop prior to Katrina? It's important because
any buyout is based on PRE-Katrina Valued home prices and if buyouts become
reality, people will not have enough to seek another home, especially if
there are seniors, disabled, etc. who might have paid off their home, or
where loans are not an option to them to meet what would be needed for
another home away from that area.

Suggestions? Comments?

Jer.