| Author |
Message |
    
Meandtheboys
Citizen
Username: Meandtheboys
Post Number: 1619
Registered: 12-2004
| | Posted on Friday, September 23, 2005 - 8:05 am: |     |
While in the Buildings Department recently, I specfically asked Bob Mittermaier how taxes were calculated on an addition. He told me taxes are based solely on square footage, and not on the monetary value of what's inside the square footage.
My realtor seems to believe taxes are calculated base on improvements to the square footage. So, if I were to upgrade my kitchen, but not add a single square foot, my taxes would increase based on the improvement.
This is all very confusing. Why can't I seem to get a straight answer? What is the correct answer? Who would be the proper authority to speak to get a straight answer? |
Bob K
Supporter
Username: Bobk
Post Number: 9393
Registered: 5-2001
| | Posted on Friday, September 23, 2005 - 9:14 am: | |
Talk to the Tax Assessor, Ed Gallante. He can be reached at Town Hall.
|
Meandtheboys
Citizen
Username: Meandtheboys
Post Number: 1623
Registered: 12-2004
| | Posted on Sunday, September 25, 2005 - 8:20 pm: | |
Thanks Bob. |
Tom Reingold
Supporter
Username: Noglider
Post Number: 9655
Registered: 1-2003
| | Posted on Wednesday, September 28, 2005 - 11:47 am: | |
Didja learn anything?
|
hch
Citizen
Username: Hch
Post Number: 143
Registered: 8-2002
| | Posted on Thursday, September 29, 2005 - 10:15 pm: | |
I have often heard that if you improve your home, such as upgrade kitchen or bathroom, your taxes will increase. This seems silly because you are penalized for investing in your home even though you aren't adding any living space.
I would be very interested in hearing what you found out, Meandtheboys. |
Tom Reingold
Supporter
Username: Noglider
Post Number: 9699
Registered: 1-2003
| | Posted on Thursday, September 29, 2005 - 10:40 pm: | |
A tax on improvements makes sense to the extent that property taxes make sense. You are taxed for your assets. Assets indicate, in a rough and indirect way, your ability to pay taxes.
Converting liquid assets into a home improvement is a good investment, because the value is likely to increase faster than in the bank, so it effectively increases in value when you make the improvement.
But it sucks when you have to pay it.
And I think the tax system relies far too much on property taxes.
|
Bob K
Supporter
Username: Bobk
Post Number: 9443
Registered: 5-2001
| | Posted on Friday, September 30, 2005 - 5:00 am: | |
The theroy is that a new kitchen increases the market value of your home and because of this the assessment is increased. There is also a difference between improvements and repairs. While replacing your roof or painting your house will increase market value these items are viewed as maintenance and no reassessment is done.
|
hch
Citizen
Username: Hch
Post Number: 144
Registered: 8-2002
| | Posted on Friday, September 30, 2005 - 9:23 am: | |
What if my cabinets are falling apart and my appliances are breaking because they are all very old. If I get new cabinets and appliances out of necessity is this considered maintenance or improvement? |
argon_smythe
Citizen
Username: Argon_smythe
Post Number: 673
Registered: 5-2001
| | Posted on Friday, September 30, 2005 - 1:48 pm: | |
Can I smash up my kitchen and get a tax break, and if so, would it be enough to order take-out every night?
|
Joan
Supporter
Username: Joancrystal
Post Number: 6367
Registered: 5-2001
| | Posted on Friday, September 30, 2005 - 4:51 pm: | |
hch:
A good rule of thumb is to consider whether a building permit is required for the kitchen changes you are making. If a permit is required, there will be a building inspection which could result in an upward adjustment to your real property taxes.
Argon:
A lot of people feel the way you do. Unfortunately, you are far more likely to get served with a building code violation (read expensive fine) than a reduction in taxes.
The system just doesn't provide for devaluations between revals. |
Meandtheboys
Citizen
Username: Meandtheboys
Post Number: 1674
Registered: 12-2004
| | Posted on Friday, September 30, 2005 - 4:57 pm: | |
Tom, haven't made the call yet, as there is no pressing need for me to know right this very minute. Had hoped someone here might have an answer. Seems as if Joan is saying that my taxes go up either way. I will make the call soon and let you know. |
Joan
Supporter
Username: Joancrystal
Post Number: 6370
Registered: 5-2001
| | Posted on Friday, September 30, 2005 - 5:25 pm: | |
Meandtheboys:
Only the tax assessor can tell you if your taxes would go up and by how much because the answer may very depend on the specific circumstances of your upgrade.
Please give him a call. You may have leave a message and wait a while for a reply since he is only part-time in Maplewood. |
george H
Citizen
Username: Georgieboy
Post Number: 29
Registered: 8-2005
| | Posted on Friday, September 30, 2005 - 5:55 pm: | |
I've always maintained that there should be a 5yr.[or so] period prior to re-assessment. Its almost the same as being penalized for improving and maintaining your home. This would hold true for any capital improvements.[i.e. any real and permanent improvement to the structure] |
greenetree
Supporter
Username: Greenetree
Post Number: 5447
Registered: 5-2001
| | Posted on Monday, October 3, 2005 - 9:09 am: | |
Our taxes went up when we renovated our kitchen last year. We now pay the eqivalent of west side taxes. |
gj1
Citizen
Username: Gj1
Post Number: 231
Registered: 11-2003
| | Posted on Monday, October 3, 2005 - 5:22 pm: | |
I've had this conversation with the Ed Gallante. Your taxes will go up.
Our assessment hasn't be done yet, but from what Ed told me the increase will be less than I had feared. This is for a kitchen renovation within the existing space. |
Closed: New threads not accepted on this page