My wife and I bought a new home approximately a year ago. Upon receiving and reviewing our 2017 tax notice I immediately saw that our assessed value jumped nearly $50k over the 2018 value. I've looked over tax records for other homes in our neighborhood with similar square footage (most with more land) and the values listed haven't changed for the years that are shown (2015, 2016, 2017).

I'm scheduled for an appeal, but they will be contacting me to let me know when. I've made notes and printed out tax records for similar homes that are nearby. If anyone has successfully argued an assessment I'd love to hear some insight.

Without percentages that $ amount is meaningless.

In McKinney, TX we appealed 4 of 6 years with success, didn't even try the first two years since it was below our purchase price in a rapidly moving market. The appeals were less successful as the years went by, and in our case after an appeal they were already capped 10% growth year to year after an initial appeal.

eta - I actually used one of the many local firms who make a living on this. I think we paid $295/year, but they have access to way better and more data than I did, plus I avoided the hassle of fighting it. Could I perhaps have saved more on my own - maybe. Could I have saved less due to more anecdotal info - probably.

I have not personally but my son drove the San Diego tax guys nuts for years haggling over assessments on one of his properties. This in a statewhere Prop. 13 limits what they can do.

The key is meticulous data collection, manipulation and organization. He is a CPA whose firm had spent a lot of money turning him into an Excel guru.

He got the sales in the area, the square footages, and other details, and ran wild with them. I don't think he always got what he wanted, but the tax assessor didn't either.

We got the county we live in to drop our property tax bill about twenty years ago. However, I don't remember exactly how much.

quote:

If anyone has successfully argued an assessment I'd love to hear some insight.

I've done it here in St. Louis County.

There are two areas to contest.
1. comparable sales or "comps"
2. condition

So you will want to take pictures of any defects to your home that show it to be in a lesser condition than the homes the County is using as comps.

Also, you will want to bring comps other than those they are comparing your home to and be prepared to show why your comps are more similar to your home than the comps they are showing.

My father beat Cook Count IL down on our property appraisal. He brought in the 100-year flood maps and showed that much more of our property was in the flood plain, and hence un-buildable, compared to the other houses/properties in the area. I was just a youngin', but I recall accompanying him downtown to the Cook County Assesor's office. It didn't end like this, though:





Link to original video: https://youtu.be/2quc-iQ96R0

We successfully did because we found errors in the property description that falsely increased value. Make sure their portrayal of your property is accurate too.

We appealed our tax assessment this year and had the assessed valuation knocked down by $50K. We worked with a local realtor who gave us the values for comparison and who recommended that we go in person to the assessor's office rather than using the online form or mailing our materials in. We are pretty happy with this result.

I have done this several times and got a lower assessment each time. You have received good advise so far. The only thing I would add is,don't give up. I have appealed as many as 5 times on the same assessment. I think they lowered it to make me go away.

In Michigan we have the Headley Amendment that limits the % increase of the property value.All that goes out the window when a property is sold and the assessed value go to the current real value.Does Georgia have a similar law?

We did once, but it was a very obvious error. They said we had a finished basement when in reality it was bare concrete walls and floor.

Yep, done it twice now. This year, they raised their valuation of my property by 25%. Our county makes sales and valuation data available online, so I downloaded the data set, looked at comps in my subdivision and across town, and pointed out the obvious problems with their new valuation.

This year, I also used the comp data and did some math on it. Showed them "assessed cost per livable sq. ft." for the different properties. For no good reason at all, they thought my property was valued significantly higher than any other comp. Instead, I suggested to them a fairer valuation below the average cost/sq. ft., based on number of rooms, etc. After a month, they adjusted to the valuation that I had agreed to. In the end, I came out with a 15% valuation increase, which is pretty good considering the housing boom over the past 2 years (assessment period).

I have done it a couple times.

The only thing that has worked for me is to pay to have an appraisal done. When I have submitted a professional property appraisal that is lower than what the county is valuing it as I have gotten the value reduced without any argument.

The stinking Californians are driving our property value up and up. Our realtor from 14 years ago pretty much told us recently good luck with an appeal and to be glad our investment has increased.

Our realtor did say to be sure and deduct from appraised value any replacement/repair cost if new carpet is needed, house needs painting, new AC, roof, etc. are needed.

Did you file for homestead exemption?

Did it successfully 2x during my previous stint in Houston and in process on my current appraisal.

Probably unusually easy, my mother appealed an assement in McKinney, TX. The assessor missed an inset on the backside of the house, thinking the house was basically a rectangle. She got her notice and knew that the square footage had changed by about 300 sq. ft. She called them up, they came out, she walked them around back and the guy said 'Oops!'. Fixed it right up. I'd probably have missed the difference in the living space. Gotta love little old penny pinching ladies.

Depending on where you live, your assessment is partially based on market price. When you bought the house, I am confident, they are adjusting your assessment based on what you paid.

Is your assessment below market? That means there is still some upward potential with your taxes.

I've been successful on 7 out of 8 in 9 years. Texas is capped at 10% increase for primary, and every single year they've raised the assessment exactly that much. I have a realtor friend that gives me comps, and I use them to fight it.

On one hand I hope my house is worth what they think it is. On the other, I'm starting to get priced out of my own house.

Have done it once in CA, once in MT and about to do it again as my hangar increased in assessed value 51% this year! Been successful each time, and expect to be okay this time too. Be organized and polite... but firm. Data driven, no emotion is best.

quote:

Originally posted by triggertreat:
In Michigan we have the Headley Amendment that limits the % increase of the property value.All that goes out the window when a property is sold and the assessed value go to the current real value.Does Georgia have a similar law?

Yep. If the homes you compared to haven't sold in awhile their assessed value may appear artificially low for this very reason. Helps the homeowner in the long run, but definitely not fun the year after you first purchase.

(Assuming you have something similar in your law)