1 March 2005
Underneath the cap
The County Assessor has gotten in his licks for the year, and given the progress of real-estate prices in this neighborhood, they were perfectly predictable.
According to today's notice, Surlywood is worth just over 11 percent more than it was at this time last year. Under Oklahoma law, they can increase the taxable market value a maximum of 5 percent, which they did. Assuming the tax rate remains unchanged, which it probably won't, my actual taxes will go up 5.7 percent.
Still, this is quite an improvement from last year, when as a new owner I didn't qualify for the 5-percent cap and they made up for what they didn't get from the previous owner in one fell swoop.Posted at 6:28 AM to Surlywood