Forbes has an interesting interactive map mashup showing where people are moving to and from in the USA.Â Â I have spent way too much time interacting with it. This is a screen shot.
Here is the link to go live andÂ interactive.Â Click on any county to see its comings and goings.Â Black lines represent inbound movement; redlines, outbound movement.
Forbes states thatÂ more than 10 million Americans moved from one county to another during 2008.Â The maps are visual representations of those moves.
Source: Internal Revenue Service data. The IRS only reports inter-county moves for more than 10 people, so some moves are not shown on the maps.
Snooze and Lose
I just went online to request a review of my 2009 Tax appraisal from Cheyenne Johnson’s Office
. Mine jumped 23.5% from the last appraisal, and that figure seems like a low increase compared to those of my Midtown friends, some of whom reported 50%+ increases, and none reported less than a 2-digit increase. The Review process is relatively simple, and can be found on the Assessor Site.
Supposedly you get an answer to your review request by May 1, in time to do a formal appeal if necessary. Remember there is a deadline, and you need to get on this quickly.
How did they come up with the values?
Can anyone really think that property values have increased across the board in the Memphis area, especially over the last 2 years? Do foreclosures (Memphis is considered to be a “foreclosure capitol”) really not have an impact on values, as state guidelines claim? What drove the huge increases in Midtown and East Memphis, and how the Assessor’s people came up with their comparables for their Neighborhood Sales Search is beyond me, at least in my personal case. I found my own, more reasonable, comparables for the review. There are a number of reasons to look more deeply into your property’s value and at least do the review process if you have had a significant increase; the main reason, of course, being significant tax increases in both City and County property taxes. Remember the definition of an appraisal is fair market value: what a buyer is willing to pay and what a seller is willing to accept in an arms-length transaction. If you don’t think your assessed value meets that test, request a review, and if necessary, appeal.
I have linked some of the news coverage in the Commercial Appeal of the unhappiness surrounding the appraisal:
Shelby County reappraisals bite blighted areas
Reappraisals up 6 percent or more in East Memphis
Property reappraisal protests simmer, don’t boil
Double-digit increases shown for suburban reappraisals
Even public officials feeling stung by property appraisals
Shelby County property tax reappraisals shock some
Appraisals show some increases : Millington Tipton
Some appraisals show increases
In brief: Some appraisals show increase in property values : Germantown Collierville MemphisHome reappraisals have all on edge