BOISE, Idaho — You've got mail Treasure Valley - but it may be bittersweet. 2019 property value assessments were sent out across the valley, and some residents on the Boise Bench are already worrying about what it could mean for house payments and taxes.
On Facebook, homeowners shared their assessments with KTVB, which painted a stark picture. Many of them saw their property values jump between 20 and 30 percent from 2018, some even saw a 50 percent increase. In dollars, that means increases anywhere between $25,000 to $77,000 in their property values.
In one resident's case, his home's value skyrocketed by $102,000.
An increase in property values does not automatically mean taxes will rise. According to the City of Boise's website, the amount homeowners pay in taxes is based on the value of the home related to all other properties in the district, so decreases in taxes that homeowners pay is possible.
Regardless, some homeowners say they worry it's a reflection of how the price of everything is rising and that higher taxes won't be far behind.
"It's a big worry," said Tamera Hunter, who lives on the bench. "My house went up $35,500, which last year it went up $40,000. So in the two years that's a pretty big jump."
Last year's increase in property value tacked on an additional $30 a month to her house payment. Hunter is concerned that history may repeat itself with this year's assessment.
"This year if it goes up again, I'm looking at $60, which for me is substantial," she said. "I think I was just kind of discouraged, like here we go again. I've got to come up with another $400 or $500 depending on what the levy comes out at."
Hunter has spent most of her life raising her children and didn't have a full-time job until they grew up. Eventually, she went back to school. For the past eight years, she has worked to save up thousands of dollars for retirement.
"So I refinanced my home and got a 15-year mortgage and I thought when I retired, my house will be paid off and I'll be able to live here and be retired," Hunter said.
With higher property value assessments leading to higher house payments, retirement in the City of Trees may not be an option like it was years ago for Hunter.
"But for the next 15 years if my taxes go up by $30 per month, by the time I'm ready to retire I won't be able to," she said.
"It's discouraging. I've lived in Boise my whole life, I've paid my taxes into this town, I've kind of supported this town," Hunter said. "And now I just feel like with everything that I've done, I'm going to end up maybe not being able to stay here because of the expenses."
Anyone who disagrees with their property value assessments can file an appeal. The Ada County Assessor's Office shows the steps to take, and what information you will need, to do that.
According to the assessor's website, calculating taxes is done later so tax levies and property taxes will be calculated and billed to residents in the fall.
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