Appealing tax assessment

10 years ago

last modified: 10 years ago

So after much procrastination, we are appealing the current tax assessment. We bought this house last october as a foreclosure for 32,500. I've been doing research on what to put as "opinion of value". Well. We bought it for 32,500... is that what you would appeal it to? When it was bought in 98 for under 2000, yes... UNDER 2000 house and all... that's what it reflected in assessment. And it was bought 2001 for some 107000 or so, and a few years later assessed to a little more than that.

But should I go with 32500 and it be a legitimate claim or go with calculations?

By my numbers, comparing it to more than 10 other houses on this road, the land value they assess it at would be accurate. But the "improvement value" should be 41500 - MAX. So the total value would be less than half the current assessed value. But that's MAX. This house is over 100 years old, and every piece of clapboard is still held in by hand made nails (yes, I'm sure as we've been replacing some bad ones) so the exterior has not been replaced in at least over 80 years, if ever. The other houses I can compare this to are either of similar age but better exterior condition, or newer houses in general. So that given and compared to the most similar in age and condition and a couple have a garage while we don't, I feel the improvement value should be somewhere between 30-35,000. That would put the total value between 54,700 and 59,700. Let's average the improvement value to what I actually paid since it's in that range. So 24,700 for the land value (not arguing what they have) and 32,500 for improvement value, would make $57,200 I could put as the opinion of value. So as I can present tax records and photos on the houses I'm comparing to on this street, I don't think I'd have any problem at all getting it changed to that.

But do you think I should put 57,200... or what we bought it at, being 32,500 ?
Opinions, why, and how does that generally work?

Also.... the people around me disagree on what counts as a room on the form. It asks for number of rooms. We have 9rooms of 11x13 (3 bdrm, 1 bath upstairs; entry room, living room, office, dining room, and kitchen downstairs).
So it asks total rooms:
bedrooms (3)
full baths (1)
family room (.... by this i'm assuming what we call the living room counts?)
Sorry for the TLDR. Opinions would be appreciated.

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Comments (3)

akamainegrower
10 years ago
The procedures for appealing assessed values vary from state to state and from municipality to municipality as do the assessments themselves. In general, purchase price has little to do with assessed value for obvious reasons - intra family sales, foreclosure bargains, etc. Comparison with similar properties in the immediate area is a better approach in seeking an adjustment. You do have to keep in mind, however, that formal assessment/revaluation is not done every year or even every 10 years in many cases. Your neighbors' houses may be under valued because they have not been assessed for many years. Inaccurate or lagging assessment on these properties will not lower your valuation.

Btw: are you sure about the hand made nails? This would be pretty much unheard of in a house less 200 years old.
Tim Walker
10 years ago
As mentioned you must research your local laws. In ca. Your tax rate is about 1.17% of the purchase price. with 2% rise annually.
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toxcrusadr
10 years ago
I would be asking the assessor's office some of these questions. Specifically how they count rooms, stuff like that. And they are going to have a protocol for how to assess it in terms of sale price and neighboring properties. Have you talked to them at all?

I called mine up when I put up a shop building on former home site (fire) and they reassessed as 'residential'. I explained that although I built on the old slab it was a garage/shop and no one lived there. They immediately reassessed to ag and my tax bill was not much more than it had been pre-construction.

Talk to them.