Please pay for our dumb ass downtown park. Royals baseball, catch the fever!

It’s a supply side issue.

Fewer new homes are being built due to labor and material shortages (and interest rate hikes). Rather than an expanding tax base, municipalities are jacking up rates for existing properties.

Same is going on in the personal property tax arena due to less cars/boats/etc. built.

https://www.ksdk.com/amp/article/mon...7-313282b6f89c

Is this some sort of admission? Are we now bound by law/morality to report this?

maybe if they'd stop paying for stupid shit like painting roads gay we wouldn't have this issue

While stupid the road painting has nothing to do with with this.

there are thousands of stupid things the government spends money on

money they piss away so now they have to jack up property tax at obscene, illegal rates

I have to admit, that was inartfully worded. :doh!:

I still pay an outrageous amount of property taxes compared to other states homeowners though. Maybe, the county should have something similar to California's prop 13?

The AVs aren't taking into account interest rates impacts on the housing market.

A FMV that's using sales from 9+ months ago is WAY out of date already. The cost of money has gone up a ton since then and it's reflecting in how much people will (or even CAN) pay for a home.

We were looking at upgrading for a few years but now I'm gonna hold onto that 2.25% mortgage like grim death and if need be I'll take out a HELOC for an addition or something.

I can't justify moving and tacking 5% onto my interest rate, even if I can afford more house than I presently have - it doesn't make a lick of financial sense.

And there are a lot of people like me out there.

Same story here. I've got a 3.5% rate and the wife and I are refusing to move until it goes back down.

Just do the math and it's obscene.

Let's say you're looking at a nice 2nd home - nothing extravagant but certainly a fairly nice place. You have a growing family or something so you're looking to get a little bigger than your 'starter' house. That's gonna be probably $500K for maybe 3,500-4,000 sq ft if you're in a neighborhood you want to be in.

And lets say you're even able to put 20% down because of equity in your first home.

A 400K loan at my 2.25% is gonna cost me about $150K in interest over 30 years. The 'cost' of the house is gonna be $650K when factoring in your down payment.

If you make it 7% the interest you'll pay on that home almost quadruples on a 30 year note. Your total interest paid will be $560K. That house suddenly costs you 1.05 million.

And what these assessors are trying to do is use home values and sales from that late COVID era when interest was still low but supply was ass (and the money printers were going brrrrrrrr) so home prices were skyrocketing.

When you start to mess with the math here, 'upgrading' homes is almost a complete non-starter unless you can somehow pay cash for it.

I cannot for the life of me understand how people bought houses in the 80s when rates were briefly at 20% before settling into the 'manageable' low teens.

But at the risk of this turning to politics, I still think this NEEDED to be done. Home prices had gotten exorbitant precisely because free money led to a runaway market. My folks built their house in the early 90s when the market was still feeling the pinch from the 80s rates and hadn't fully absorbed those early 90s drops into the 5-6% range that we're climbing back into now. And man, comparing what they paid to what we would for a home like that now - it's night and day. At a point, the market needed a correction.

But you can't go rat-****ing people on their property taxes in the middle of it...

I obliterated my right leg 2 days before the photographer was coming over to shoot our home that was going on the market in early '22

My first thoughts were 1) That looks really horrific, I hope they're able to save the leg and I should probably prepare myself mentally for the worst and 2) interest rate hikes

I texted my wife from the back of the amber lamps that we were moving forward no matter what

I have more nightmares about the 1% jump we took

rat ****ing people is the name of the game right now..it's a cash grab that is intended to price some people out opening their homes and areas to corporations for either permanent rental or commercial property..

Joco is the same way its criminal

Spoiler: everyone is getting ****ed