Everyone just received the tax assessment values on their properties. What happens when your assessed value goes up for some owners twenty to thirty thousand dollars in one year? Many homeowners are going through this scenario.
Let’s examine how your local government knows how to raise the property values. County governments have offices of the assessor. These folks, in turn, have appraisers that rate the values of all the homes each year. How do they rate all of the homes each year? They do it on paper and maybe a few drive byes. There is simply no way for them to evaluate each individual home. How is this different from your Realtor evaluating the home?
Realtors come to your home and actually look at the condition, upgrades, and changes and then uses the information together with area comps determine your home values. This doesn’t happen with the government appraisers.
Many of the homeowners choose to challenge the assessment values the county governments have rated, how does an owner challenge their assessment? You need to file a notice with the County right after you receive the notice. Have a Realtor with experience in Comparative Market Analysis preparation Let you know what your home is worth relating to others in your neighborhood. If your values are not the same after the Realtor has viewed your home and used real-time information, then you may have been over or under assessed.