Property tax assessment

[ASCTLC]

Has anyone here "successfully" reversed a Property value assessment from a tax increase using comps?

Just moved in and they state our home is worth a lot more than comps and the appraisal state. Is it that simple to produce these to get them to drop the assessment back down to a logical value?

Thanks,
Andy

[Alpine Spirit]

If you just bought it and moved in then take them the appraisal.

[karstman]

We were able to have it reduced significantly after the last round of assessments. Did it online, picked 3 homes in the neighborhood to use for comparables. Had a new lower assessment in the mail in a few weeks.

[Mack]

Absolutely. You can even cite what you paid for your place.

[jeeplvr79]

I tried with just a piece of land I have up in Teller County... value went up over $3k in the last year... disputed it and they denied my request (its just land in the middle of nowhere). Good luck... keep us posted how your situation turns out!

[ASCTLC]

Thanks guys, that's encouraging. From the appraisal to now is all of 6 months and they claim a $33,000 increase in value.

Andy

[denverd0n]

The thing is that you have to remember you are dealing with bureaucrats. Just going in and talking to them, and expecting them to listen and be sympathetic is not very realistic. You have to be able to show them some paperwork. You have to give them something that they can put on their form to justify a reduction.

First and most important thing would be any errors on the assessment. For instance, when we first moved into our current home and got the tax assessment it mentioned a finished basement. Uh... No. We had roughed in plumbing, but no finished space in the basement. The previous owners had pulled a permit, but had never done the work. The total square footage was also off, not by much, but by some. Between those errors and documentation of what we had actually paid for the house (and you need to bring documentation!), they reduced it considerably.

The best part is the errors were permanently removed, so now EVERY year our assessment is less than it would have been if we hadn't corrected the errors.

[Dave McDonald]

I look for comps every time they revalue my house. I haven't been completely denied once. I find the cheapest comps I can, and turn those in. I print them off on quality paper, I write a letter stating my opinons on why the comps I picked are closer in comparison to my house, and I put a dollar figure of what I would estimate the value to be. We usually wind up in a compromise.

If you walk in with a couple of addresses scratched on a scrap of paper and say "The value should be lowered as much as possible" they're gonna ignore you.

I also had the adjuster drive up my road (we're on a private road that's deteriorating). I have a 'view' adjustment since we have a really killer view in Evergreen. It's now offset by an 'inadequate access' adjustment.


Don't just look at the house. Look at anything that might affect the value - any new electrical lines in your area? New airport runway? Toxic sludge seeping outta the ground? Undead zombies playing mah-johng in the cellar?

The adjusters are VERY busy, and being normal people are also stressed. Be organized, be quick, and be polite. You can always get nasty later if you decide to appeal.

P.S.: Don't forget, you'll probably be working with the same person in two years when they adjust your value again. Think long term, don't pee in their sandbox and expect them to forgive and forget in 48 months.

[scottycards]

I got a very significant reduction in my assessment this year.

I had an appraiser (my brother) pull comps, make adjustments, and I sent them in with the little form.

A couple of weeks later, I got a notice that my assessed value had gone down, saving me a significant amount of money on my taxes.

Absolutely do this- you can't lose, you can only gain, and it takes literally 10 minutes to fill out the form.

PM me if you need an appraiser, and I'll hook you up with my bro.

:thumbsup: :thumbsup: :thumbsup:

[Yota]

Is there a "derelict house two-doors-down" adjustment by chance?

I better get my comps in before the new owner finishes flipping it. :D

[Dave McDonald]

Is there a "derelict house two-doors-down" adjustment by chance?

I better get my comps in before the new owner finishes flipping it. :D

Nope. I tried that. There's no PITA neighbor adjustment either.

[Yota]

Mine pisses me off more for the fact that the housing market is in this supposed "slump." Yet our values all went up? Horse crap.

[Dave McDonald]

Mine pisses me off more for the fact that the housing market is in this supposed "slump." Yet our values all went up? Horse crap.

Comps, and therefore values are based on a 2 year historical value. We won't see the current slump until next time. I'm not sure whether the property tax freeze (read: illegally increased land owner tax) put in place by Gov. Ritter is going to make it tougher to lower your appraisal or not. It does seem funny that on the same year he announced that, the county tried to raise my value by 57%. I argued them down to a 9% raise.