Your local CAD can no longer use the excuse "you got a good deal". I was speaking to a local gentleman by phone over this past weekend to get an update from the legislative session in regards to property valuation relief and this came as good news. The legislature passed a bill that requires property tax appraisal districts (must) to include foreclosure sales when computing the market value of your property.
I don't know what the foreclosure rate is like in our part of the state; however, the folks in the larger metro areas should see some reduction relief next year in their appraised values.
However, this brings forth another excuse by CADs - "we only reappraise property every three years". The battles will continue with CADs in some form and fashion until we eliminate property taxes all together.
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