Assessment appeal services

Most localities determine your property tax burden based on an ad valorem assessment of the property's value. Sometimes, as a property owner, you get an unwanted surprise in the mail telling you your taxes are going up, and sometimes it may seem as though your assessment is too high.

Often, matters like this can be resolved with a phone call. However, if after discussing your assessment with your local taxing authority you still feel as though your property was overvalued, a professional, independent, third-party appraiser is often your best bet in proving your case. That's where we come in.

There are as many different procedures for appealing assessments as there are property taxing districts, so it's important to enlist the help of a professional appraisal firm that's experienced and trained in the ins and outs of your particular jurisdiction. 

Please note: It makes sense to do your own research before determining whether to go forward with a property assessment appeal, especially before you make the decision to hire a professional appraiser. However, according to the Uniform Standards of Professional Appraisal Practice (USPAP), we are not allowed to take "shortcuts" -- i.e., your research -- and use it on its face as part of our independent evaluation. When you hire us for an assessment appeal, you're commissioning  an independent, third-party professional appraisal report. As such we do our own evaluation, beginning to end. If you're right that your property has been overvalued, an independent report such as ours will be even more persuasive than any other evidence you can marshal on your own. But it depends on our ability to do the work independently.

Below is an excerpt from an MSNBC article entitled "Overtaxed Homeowners Start to Fight Back" By Kristina Dell, msnbc.com, updated 6:32 a.m. CT, Wed., April 7, 2010.

A success story
Stuart Sendell, a retired mortgage banker living in Morristown, N.J., was ultimately successful but said the process took 14 months to complete.

After reading a report that found the average assessed value of real estate in his town had increased by 5 percent, Sendell paid a visit to his local assessor’s office to examine the calculations.

“Everyone knew housing values were dropping like a brick,” he said, remembering that he thought the report "couldn't be right."

John Makely / msnbc.com Stuart Sendell's home was estimated by the township to be worth $1.6 million, but his appraiser concluded his home was worth only $970,000. After appealing his property assessment, he accepted a 25 percent reduction after a lawyer for the township asked to strike a deal.

Sendell was onto something. He found that the local government included in its calculation a sample of lower-priced homes that dropped in price less severely than his house, which the office estimated was worth $1.6 million. He decided to appeal after hiring an appraiser who concluded his home was only worth $970,000.

Two months before his court date the lawyer for the township asked to strike a deal. Since New Jersey law gives assessors a 15 percent margin of error for assessments, Sendell accepted a 25 percent reduction, which showed up in his taxes. He was awarded a $5,400 tax refund — a savings he now banks each year.

 

 

 

 

 Sometimes, you will have a hearing on your assessment appeal and will need for the appraiser you've hired to testify on your behalf. Be assured that at Appraisal Services Group, we are able to professionally and persuasively testify at appeal hearings.  Browse our website to learn more about our qualifications, expertise and services offered.