Is your property over valued by the Tax Office? Here are some tips to help find out.

 
The most accurate indication of market value of property is recent sale data. The next most accurate indicators are recent appraisals. If you don’t have these, a comparison of properties similar to yours can show if yours is fairly valued. This comparison of values takes the equity approach, where you have the right to receive a Tax Value that is equitable to similar properties.

1: Consider the purchase price or appraised value of your property
If you purchased your home during the relevant market period and the purchase price is less than the value on your County tax report, your property is likely over valued for property taxes. If you have an Appraisal Report prepared during that period showing a value less than the tax value, your property is likely over-valued. In either case, you should bring the information to the County Tax Assessor /Appraiser and request a reduction equal to the purchase price or appraised value.

2: Compare the tax value of properties similar to yours
Drive through your neighborhood to find the homes similar to yours. You need at least five. The best properties will be those with the least number of dissimilar features. Select properties most similar to yours in location, building type (bungalow, two-storey, condo etc.), year built and/or renovated, heated/cooled space, garage, and special features like water views. County Tax Assessor/Appraiser data is found through the official County website and is public record.

 
3: Make a chart to compare features and add value/subtract value

Complete this analysis using accurate information only. Accuracy helps your case for having the information accepted by the County Assessor. List the components of your property by size, bedrooms, bathrooms and features. Then add or subtract from the values of the properties you are using as comparables. Do not adjust the value of your property. Let the comparables determine your likely value. Photographs will help you.

4: Call the County Tax Assessor or Appraiser Office for a meeting

The County website will provide directions and often offer suggestions. These are nice people simply trying to do their jobs. Treat them as friends and neighbors, never as adversaries. If you have a good case, they may lower your tax value. However, it is not their job to prepare your case. The County placed their opinion of value on your property. You must make a detailed and compelling case on their terms to win a lower value.

5: If you need help, call us. We are professionals. This is what we do

Having a professional at your side is advantageous. We understand the system and know the people involved. Call for us a free review of your case. If we think we can save you enough money to make an appeal worthwhile, we will prepare a detailed report of our opinion. We only earn a fee after your tax liability is lowered, so you incur no cost by asking.