Do you find this ad for a house on 19 Hillside interesting? We do.
Ideal house for a family with children or older family who wishes to rent an apartment upstairs
- Price: $285,000 …
- 2009 Market assessment: $194,700; taxes: $2,500/year (this assessment was deliberately kept low to keep taxes low). [emph ours]
Sooooo…. the seller (a professor maybe?) by claiming the assessment on this property is unusually low also claims he has not been paying his share of Town taxes, because assessment determines the portion of the Town’s budget requirements that each resident pays. If he has not been paying his share then his neighbours, the rest of us have been paying it.
The seller does not seem to mind advertising this fact. Moreover he states that this is not an accident, not luck, or the incompetence or arbitrariness [call it what you will] of the Assessment office, but deliberate, the result of some effort on someone’s part to keep assessment low.
How was this managed we wonder. Did he have a relative in the Assessment Office? Have previous “selling prices” for the property been accurate? It’s a question, isn’t it? Many of us, including a prospective buyer, would want to know .
OR – this is the seller’s way of justifying asking a higher amount for the house and explaining away a low assessment figure.
BTW – there is no mention in the financial information info for the buyer that Wolfville has a deed transfer tax of 1.5%, which on 285K would be $4,275 since it is applied to the selling price not the lower assessment figure.
It will be interesting to see what this house sells for. Will someone consider it is worth close to the asking price? Or will the selling price be nearer to the assessment figure?