1St Year Property Tax on New construction-Land Value Vs. Full Taxes-Kendall Cnty

Hi E.,

Sorry for the tax bill shock...opening those bills is never fun! Tax bills are for the previous year so any bill you received last June 2006 was for land (for 2005). Since you resided in the home from March 2006 on, I would think you would owe for the services, schools, etc from March on. Maybe you could reach someone else at the assessor's office for a better explanation!! At least we get what we pay for out here...I have been here for 6 plus years and feel schools are great!

Do you live in Churchill club. I do and they told me the same thing. Come to find out that taxes are more than doubled. I pay $9,000 a year in taxes and you know taxes never go down. Pretty soon taxes will be more than my mortgage.
Welcome to Oswego.

You owe it, there are no tax breaks. However, you builder is responsible for their portion of the bill before you closed (Jan-March) which is just for the land value. You however can write off the full amount, even that which the builder paid for, on your income taxes.

If you moved in back in March 2006, there was a full completed house there from March 2006 thru December 2006. At closing the builder should have given you a credit for the months they owned the property when there was not a completed home there (hence what they told you about land value) so they paid you at closing for Jan 2006 thru Mar 2006. Come 2007 when the 1st installments were due, you do pay 10 months of taxes when the value of the property is assessed at full value of the completed home.
Hope this helps!

Many builders tell homebuyers this and it is a scam. We were also told the same thing, but my husband checked with an attorney who gave us the real deal and we were able to save the amount of money we thought we would owe. Unfortunately, taxes are real big with new construction and many of my neighbors have had to put thier houses back on the market. Was Ryland your builder by any chance?