If you are protesting your property taxes here are a few quick tips that may help you be more successful this year.
They Give You Their Comps
Within your notice of value you should have received a Comparable Sales Report giving you the specific properties the tax office used to determine the value of your home. I often hear of homeowners going to for their appointment without this information. They are showing you their hand and you should be able to use that information to help your argument.
Removing A Comp May Be More Important
The reason why it’s important to know in advance their evidence is in my own experience demonstrating to the appraiser why a comp shouldn’t have been used gets me more bang for my buck than providing additional comps. Sometimes the appraiser tries to use homes from a superior neighborhood or a home with more upgrades. Once I get them to remove that home from their list it often brings down the value of my home.
2 Ways To Protest
There are 2 primary ways to protest your value. Incorrect market value and market value is unequal compared to other properties. Unequal means it’s not fair that your home has been given a higher market value than a similar home.
Often I have been able to find examples of homes that for one reason or another have a lower market value. Last year there was a whole street nearby with market values significantly lower. I brought all those addresses with me to my protest and appraiser added them to the comps until my value was the same as the homes on that street.
When you file your protest you have to give the reason so it is important to check off both reasons you want to protest. If you don’t check off both choices when you go for your hearing you will only be able to make an argument based on what you did choose.
Don’t Bring All The Comps
The challenge when someone requests a CMA or comps from a Realtor is there often isn’t much thought involved with the information provided. I hear stories every year how homeowners shoot themselves in the foot by giving the appraiser comps that actually support a higher value.
You may have better success only bringing one additional comp or getting the appraiser to remove a comp than providing a CMA showing sales that hurt you more than help you.
Be Nice
Above all try to be nice to the appraiser. They are just doing their job. They didn’t come up with your value themselves so don’t take it personal.
In my experience if you are able to make a calm and rational argument your chances of success are much higher than getting emotional and raising your voice.
If you plan to sell your home, now is the best time to attend our Free Home Selling Workshops. If you want to attend a workshop, contact us, and we will notify you when they are scheduled. As always, you can check KopaWorkshop.com to see the dates and times of our in-person and online Free Home Selling Workshops. For years, home sellers have told me they benefited from attending our events. Sign up at KopaSeminar.com.
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