The comps are in

O. M. G. I received the comps from the property tax assessor via email. I don't know whether to laugh or cry. It's all so ridiculous. There are 5 comps. Our state does not have what a home sold for as public information, so this is "confidential" information I had to request and sign a form to get. In addition, by law, for this years (every 2 years) valuation they have to value everyone as of Jan 1, 2022, so all the sales they use are from 2020 and 2021. So, the comps they are using are 2-3 years old now.

Ok...let's start with comp#1: The home is over 200 miles away! It's part of a 500 acre "luxury golf resort" community. These are all vacation homes for people from out of state. Second, probably even 3rd homes, for them. The owner of this particular comp lives in Provo, UT.  All the homes in this luxury golf resort are expensive and high end. So....200 miles away and not even a similar type of area or community.  That home sold for $1,175,000 back in 2021. The people that are willing to pay that kind of money for that house are not going to pay that for my house, in it's location. Good grief. They are paying that much due to the quality of house, the fact that it has all the golf course/resort amenities and that it's surrounded by similar luxury homes.

Comp#2: This home is 160 miles away and sold for $519,750 in 2020, also owned as a vacation home by someone from out of state.

Comp#3: This home is 70 miles away, in a different county, as well. It sold for $825,000 in 2020. Again, owned by someone out of state.

Comp#4: This one is at least in our county! It's on a golf course (though not luxury resort golf course by ANY stretch of the imagination) and their lot is also on the river. It sold for $440,000 in 2020. So, lets look at their land and building assessed values they just got. Their river lot went up 33%. Ours went up 113%. Their building (ie home) value also went up 33%. Ours went up 44.25%.

Comp#5: Close to us, like 5 miles as the crow flies. Sold for $895,000 in 2021. 10 acres (we have 2) and a 4480 sqft house (ours is 3735) and a 2400 sq ft shop (ours is 1728 sqft). Their land value increased 21% (again, ours 113%) and their buildings value increased 24%.  Their total 2023 assessed value is $50k less than our assessed value.

Not to mention, if these are the comps used for OUR house, what the hell comps were used for our neighbors fabulous concrete log home of 5112 sq ft, that is valued at $363,000 LESS than our home? Sure, we have a shop, but it certainly is not even anywhere close to being worth $363,000, let alone they have 1377 more sq ft of house then we do. 

There is also a bunch of other somehow calculated values on the comp report, where they somehow magically adjust these comps up and down to get why my value is.

Now I am waiting for some other "request for additional residential sales data" that they use to get the value and it has to come in the mail on a USB drive. The guy said it might take a few weeks. 

I read a recent news article last night about our state property assessment system and the continued fight to try to get something on the ballot we can all vote on to limit the increases. There was an initiative last election (we both signed it) and my understanding is they got the 60,000 signatures needed, but whoever was fighting it took them to court and the judge determined that there was some "misinformation" in one of their pamphlets and thew out some of the signatures, so then they didn't have 60k to get on the ballot in time for the election. It sounds like they (headed by an attorney) are trying again and getting sued again. Follow the money, as usual. But, his reason for trying to get this on the ballot is that the people from out of state, who can well afford to outspend the locals on home prices, are running up the home values of those that actually live and are residents here. The residents that live, work, or are retired here can't afford these jacked up home values