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Old 06-25-2023, 01:16 PM  
Hammock Parties Hammock Parties is offline
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Class action lawsuit filed over Jackson County assessments
https://www.kctv5.com/2023/06/25/cla...y-assessments/

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KANSAS CITY, Mo. (KCTV) - A new class action lawsuit challenges the quality of Jackson County’s property assessment. It calls into question if some increases are even legal considering some notices came in the mail after the June 15 deadline, as required by state statutes.

The filing asks a judge to step in and offer injunctive relief. It also calls for a jury trial.

The lawsuit was filed by attorney and developer Ken McClain on behalf of Trevor and Amanda Tilton of Odessa and two businesses.

The lawsuit is critical of the methodology used by Jackson County to reach new values. It argues the newly-built assessment system fails to include sufficient information and there’s a lack of physical inspections.

It points out assessments should consider current market conditions. It argues that didn’t happen when it came to commercial property.

The lawsuit claims Jackson County uniformly increased the value of every non-vacant commercial property with an improvement by 25%. And vacant commercial properties had an across-the-board increase of roughly 50%.

KCTV5 has heard from numerous homeowners who are shocked by the large increases in their assessments. Some question if they’ll be able to keep their homes. They also question if they can realistically sell when property tax assessments increase so much in one fell swoop.

READ MORE: Jackson County property assessment workshops kick off
There has been a 30% average increase in Jackson County. The Assessor’s Office argues homeowners are seeing large increases because Jackson County real estate has not been assessed with Fair Market Valuations (FMV) for a long time and building costs have increased.

The lawsuit is filed against Jackson County Executive Frank White, Assessor Gail McCann Beatty and other members of the Board of Equalization.

KCTV5 reached out to Jackson County’s public information officer for comment but we have not heard back yet.
Politicans exempt from insane take hikes



Legislation drawn to overturn insane tax hikes:



Protest scheduled at Jackson County Courthouse:



KC Town Hall scheduled July 15

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Old 06-26-2023, 06:22 PM   #76
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meanwhile
What? Don't they already have Four and Five Light plans on the books when they get done with Three? What the hell kind of stupid shit idea is this?
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Old 06-26-2023, 06:33 PM   #77
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What? Don't they already have Four and Five Light plans on the books when they get done with Three? What the hell kind of stupid shit idea is this?
It’s gonna have 11 affordable units! That’s a steal for the city. Gotta build it and better give them all the breaks!

Other 97 units will be 4000/month and the building will look like absolute dogshit. But it’s new dogshit.
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Old 06-26-2023, 06:42 PM   #78
WilliamTheIrish WilliamTheIrish is offline
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I cannot for the life of me understand how people bought houses in the 80s when rates were briefly at 20% before settling into the 'manageable' low teens
My first mortgage was in 1984 @ 17.7%. Beautiful little airplane bungalow in the oldest part of town. 40k.

And yes contraction of the money supply is exactly set up to slow down the housing market. Hope it works. I’m headed out of this area soon enough. Will definitely be a shoebox instead of a palace as I set up for the 3rd and 4th quarter of life.
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Old 06-26-2023, 06:46 PM   #79
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Just do the math and it's obscene.

Let's say you're looking at a nice 2nd home - nothing extravagant but certainly a fairly nice place. You have a growing family or something so you're looking to get a little bigger than your 'starter' house. That's gonna be probably $500K for maybe 3,500-4,000 sq ft if you're in a neighborhood you want to be in.

And lets say you're even able to put 20% down because of equity in your first home.

A 400K loan at my 2.25% is gonna cost me about $150K in interest over 30 years. The 'cost' of the house is gonna be $650K when factoring in your down payment.

If you make it 7% the interest you'll pay on that home almost quadruples on a 30 year note. Your total interest paid will be $560K. That house suddenly costs you 1.05 million.

And what these assessors are trying to do is use home values and sales from that late COVID era when interest was still low but supply was ass (and the money printers were going brrrrrrrr) so home prices were skyrocketing.

When you start to mess with the math here, 'upgrading' homes is almost a complete non-starter unless you can somehow pay cash for it.

I cannot for the life of me understand how people bought houses in the 80s when rates were briefly at 20% before settling into the 'manageable' low teens.

But at the risk of this turning to politics, I still think this NEEDED to be done. Home prices had gotten exorbitant precisely because free money led to a runaway market. My folks built their house in the early 90s when the market was still feeling the pinch from the 80s rates and hadn't fully absorbed those early 90s drops into the 5-6% range that we're climbing back into now. And man, comparing what they paid to what we would for a home like that now - it's night and day. At a point, the market needed a correction.

But you can't go rat-****ing people on their property taxes in the middle of it...
this is nationwide. I couldn’t buy my house today. Last time I looked it had tripled what we paid for it 10 years ago. But, now I have to deal with property taxes going up but not because of my homes increased value but across the board property tax increases.

Flood insurance(really hurricane) went up $2-$3K for most. Now, we can move from being on the water so no one needs to shed a tear for us ****ers.

But, just regular house insurance went up $1500 too. I’d bet we can find a poster on here from every state with a similar story.

I refinanced a couple of years ago. Got a 30 year/2.3% rate. Was going to put $500 a month back into my pocket. Until they raised the Insurance and taxes. Totally wiped it out.
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Old 06-26-2023, 08:24 PM   #80
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Nah, it’s on everyone.

We are not in starter home territory ourselves and my friends/family all over the metro (Lee’s Summit, North KC, South KC, all the central KC neighborhoods, even a friend who has a home in the Northeast) are seeing crazy things.
Not even starter homes are spared.
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Old 06-26-2023, 08:35 PM   #81
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rat ****ing people is the name of the game right now..it's a cash grab that is intended to price some people out opening their homes and areas to corporations for either permanent rental or commercial property..
Yep. Blackrock will own it all.
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Old 06-26-2023, 08:43 PM   #82
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My first mortgage was in 1984 @ 17.7%. Beautiful little airplane bungalow in the oldest part of town. 40k.

And yes contraction of the money supply is exactly set up to slow down the housing market. Hope it works. I’m headed out of this area soon enough. Will definitely be a shoebox instead of a palace as I set up for the 3rd and 4th quarter of life.
What retirement home are you going to?
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Old 06-26-2023, 09:14 PM   #83
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Yep. Blackrock will own it all.
If ever a corporation was in need of being "cancelled"........
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Old 06-27-2023, 07:53 AM   #84
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What a ****ing mess

https://www.kshb.com/news/local-news...-its-worth-35k
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Old 06-27-2023, 08:24 AM   #85
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this is nationwide. I couldn’t buy my house today. Last time I looked it had tripled what we paid for it 10 years ago. But, now I have to deal with property taxes going up but not because of my homes increased value but across the board property tax increases.
...
It's WORSE nationwide.

Because at least in the midwest, you started from more reasonable numbers. And since the impact of interest rates multiplies with higher dollar figures, if you go anywhere with a higher COL, you're going to feel this even more.

Builders build so they're gonna keep building. And you'd like to think that sooner or later you'll have a situation where spec homes are a little more affordable and thus help slowly boost supply and thus drive the market back down in response to interest rate changes.

But shit man, we may just have to have another housing collapse to ever get back to normalcy. Or some TRULY catastrophic rate hikes. But man those are going to make things hard on new home owners so it's awfully difficult for me to get behind that as well.

I just don't know how to softly land this plane. You may just need to steer it into a mountain.
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Old 06-27-2023, 08:28 AM   #86
Garcia Bronco Garcia Bronco is offline
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Originally Posted by BigRedChief View Post
this is nationwide. I couldn’t buy my house today. Last time I looked it had tripled what we paid for it 10 years ago. But, now I have to deal with property taxes going up but not because of my homes increased value but across the board property tax increases.

Flood insurance(really hurricane) went up $2-$3K for most. Now, we can move from being on the water so no one needs to shed a tear for us ****ers.

But, just regular house insurance went up $1500 too. I’d bet we can find a poster on here from every state with a similar story.

I refinanced a couple of years ago. Got a 30 year/2.3% rate. Was going to put $500 a month back into my pocket. Until they raised the Insurance and taxes. Totally wiped it out.
Figure 33 percent hike in insurance rates.
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Old 06-27-2023, 08:32 AM   #87
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lmao

i'm glad these ****ing assholes don't know about my shed
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Old 06-27-2023, 08:35 AM   #88
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That's a blatant case of incompetence. JacksonCounty had a battalion of people canvassing neighborhoods and performing exterior inspections. I don't believe any of them were licensed or certified appraisers. I assume they were just looking for homes that had plausible additions, or accessory units. The amazing thing is, they would create an assessed value on the accessory building without knowing if it was being rented, inhabited by an in-law or child, or if it was completely trashed and/or uninhabitable (no power, potable water, sewer connection). Without an interior inspection, you can not even come close to an accurate tax assessment, you can only create a crude estimate of large-swath value increases and apply it across the board, which especially f@cks the elderly, as their properties are almost always dated.
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Old 06-27-2023, 09:19 AM   #89
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lmao

i'm glad these ****ing assholes don't know about my shed
They do now.
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Old 06-27-2023, 11:00 AM   #90
WilliamTheIrish WilliamTheIrish is offline
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What retirement home are you going to?


Good one!

No retirement home. lol.
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