A few weeks ago, I had my home appraised by a licensed appraiser. When the appraisal arrived, the value given in the report was much less that the assessed value. I took the appraisal to the local assessor's office in the hope I could get my assessment lowered. The assessor said that the appraisal wasn't worth the paper it was sprinted on citing that it contained many factual errors, such as what homes were selling for in our area. The bottom lime is that I'm not getting any adjustments in my assessment. What are the chances of getting a refund on the appraisal? Is there any other way to get the assessment lowered?
2007-07-30 01:01:56 · 4 answers · asked by kapustafooz 2 in Business & Finance ➔ Renting & Real Estate
You need to keep fighting with the assessor. Assuming, of course, that the data in the appraisal is, in fact, accurate.
With the housing market being depressed, many people are now being taxed at an assessed value you couldn't sell your home for right now.
Ask the assessor when the last time he physically inspected your actual home. Probably never. So how would he know more? He doesn't. It's his job to fight you back.
So buck up and keep pushing.
2007-07-30 07:55:20 · answer #1 · answered by Yanswersmonitorsarenazis 5 · 0⤊ 0⤋
The person at the office should not have told you that, because you may or may not have spoken to someone that knows the difference between a tax assessment appraisal and a market value appraisal.
They are not related....once is to assess your property for the purposes of paying taxes on it, another is to asses your property for value on the open market.
It's funny, when the tax assessment is far less than the appraisal...people never complain about that, but as soon as it's the other way around, they demand a decrease in their assessment.
They are simply NOT related.
2007-07-30 02:42:25 · answer #2 · answered by Expert8675309 7 · 0⤊ 0⤋
Always bear in mind that your tax assessed value may or may not be representative of your actual market value. If your home seems over assessed by, as an example, 20%, your assessment is not an issue of other homes in the taxation district are similarly over-assessed. I suspect that may be the case, and the taxation district will not lower YOUR assessment without similarly lowering all the other properties in the taxation district.
Of course, if they lower the other homes by an equal amount in assessment, it will have absolutely NO effect on the amount of property taxes you pay.
Rather than only pay attention to your appraisal vs your assessment, you need to check other homes' assessments in the taxation district to insure that the prorata assessments are in line in terms of percentage of over/under assessment.
2007-07-30 01:13:42 · answer #3 · answered by acermill 7 · 0⤊ 0⤋
Is anyone else in your neighborhood upset with their assessed values? It would take considerable effort, maybe even an attorney to prove the assessed values are excessive. You might enlist the help of a local Realtor.
To be honest, this is happening all over the US. It seems that our assessed values have now become the price most buyers will pay in a transaction. Sad. And lower in some areas. So you aren't alone. You may just have to ride this one out.
2007-07-30 01:45:00 · answer #4 · answered by Alterfemego 7 · 0⤊ 1⤋