By now you should have received your assessments if you own real estate in Monroe County. The amount of your assessed value whould be somewhere close to the amount you feel your home is worth. If not, you might consider discussing this with the assessor.
Next step, how does this translate into the amount of property taxes you will pay? The auditor's office has a nool tool which should provide the tax rate by March or April. Until then, the only rate available with the on-line tool is the 2007 rate. This will get you in the ballpark but will not be accurate until the new rate is available.
You can go to www.co.monroe.in.us/auditor/CalculateTaxes.html for the calculator.
You can go to www.co.monroe.in.us/auditor/key_thing_is.htm for more information from the auditor's office.
Sunday, January 20, 2008
Saturday, January 19, 2008
Locked Out was the headline in the Tuesday, January 15, 2008 edition of the H-T. The subtitle says “While Hoosier foreclosures climb to second in the nation, Monroe County bucks trend”
This article discusses how our local home owners are “escaping foreclosure by the skin of their teeth” which is true. We are seeing people avoiding foreclosure but that does not necessarily mean that they are keeping their homes. While the numbers are not readily available, it would be interesting to see how many mortgage companies are accepting a deed in lieu of foreclosure.
If you are unfamiliar with this language, let me explain. When foreclosure is eminent a lender will often negotiate with a home owner for the home owner to sign over the deed to the home to the lender, who in exchange will not proceed with the foreclosure suit seeking a judgment against the home owner.
Over the past year I have sat with many people who need to sell their homes because they can’t make the payments. In most cases they are already behind on payments, they have little to no equity in the home and while they are with me they learn that they can’t sell their home because they owe more on it than what the market will bring. They can choose to stay put until the courts tell them otherwise or end the attorney costs and sign the deed over to the bank without a fight. While the foreclosure numbers show that we are ‘bucking the trend’ I have to wonder how true that is. I believe if we knew the rest of the story we might have a less optimistic report.
This article discusses how our local home owners are “escaping foreclosure by the skin of their teeth” which is true. We are seeing people avoiding foreclosure but that does not necessarily mean that they are keeping their homes. While the numbers are not readily available, it would be interesting to see how many mortgage companies are accepting a deed in lieu of foreclosure.
If you are unfamiliar with this language, let me explain. When foreclosure is eminent a lender will often negotiate with a home owner for the home owner to sign over the deed to the home to the lender, who in exchange will not proceed with the foreclosure suit seeking a judgment against the home owner.
Over the past year I have sat with many people who need to sell their homes because they can’t make the payments. In most cases they are already behind on payments, they have little to no equity in the home and while they are with me they learn that they can’t sell their home because they owe more on it than what the market will bring. They can choose to stay put until the courts tell them otherwise or end the attorney costs and sign the deed over to the bank without a fight. While the foreclosure numbers show that we are ‘bucking the trend’ I have to wonder how true that is. I believe if we knew the rest of the story we might have a less optimistic report.
January 2008 – What’s Hot List
1. High Tech Homes with features like:
a. Controlling the home’s appliances and lights from your cell phone or from the internet.
b. Mounted Plasma or Flat Screen TVs.
c. Home networking systems.
d. Multiroom audio and automated lighting.
e. Multizoned Heating & Cooling.
f. Whole home automation systems, automated blinds, sensor operated faucets, audio &
video systems.
2. Home offices and media rooms.
3. Nooks off kitchens and bedrooms to hold gear.
1. High Tech Homes with features like:
a. Controlling the home’s appliances and lights from your cell phone or from the internet.
b. Mounted Plasma or Flat Screen TVs.
c. Home networking systems.
d. Multiroom audio and automated lighting.
e. Multizoned Heating & Cooling.
f. Whole home automation systems, automated blinds, sensor operated faucets, audio &
video systems.
2. Home offices and media rooms.
3. Nooks off kitchens and bedrooms to hold gear.
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