How do you begin a property tax assessment appeal? I want to give the free access to downloadable information to the average guy or gal real estate property and homeowner so they can so they can make a useful and exact defendable real estate market appraisal (and save themselves $350 or more for a licensed appraisal service and even more for attorney representation).
First, one needs to assess if they indeed qualify for a property tax appeal and if it is worth their time. Property tax assessments are the result of mass property tax assessment for a town or county and are called “blanket assessments”. They are very expensive for a town to conduct and are done infrequently.
The work is put out on a bid and the low-cost bidder gets the job. They do not do a thorough job like a licensed real estate appraiser will do since it is done on the fast and cheap. Lots of mistakes happen. Consumer Reports reveal that 40% of property tax record cards contain errors. It could have been 10 or more years since the last blanket assessment for your town.
For the reassessment year the evaluation ratio is 100% but as years become added on, that ratio changes. Real estate assessment divided by the sales ration equals the price that the property tax assessor values a subjects home for.
If one gets a property tax assessment for $500,000 and a 80% sales ratio (which might be called by different names like a directors ration, a home assessment ratio, an average ratio or other types of nicknames), one needs to divide that $500,000 by 80% (or .80 since need to move decimal over 2 places to the left) which results in $625,000 (the actual value the tax assessor is taxing your home for). Most are not aware of these terms and the actual 5th grade math involved.
Is That Property Tax Assessment Appeal Worth Pursuing?
When you know the real valuation that you’re getting taxed on, you’ll need to do a comparable search for similar sold home to yours in order to see if that actual market value the tax assessor say your home is worth to reality. We will provide you with access to free sold properties in your area that you can use for that investigation.
There are many variables and you might need to adjust for differences that your sold home has or does not have against your subject home. Differences like, number of garages, square footage, number of bedrooms, baths …. We will give you a free comparative analysis worksheet to help you with that equalization quest.
Contest Property Tax Assessment With Evidence
Once you see you have a case worth pursuing, we suggest you review our Real Estate Valuation & Property Tax Appeal Training Course so that you’ll have professional, easy to follow information at your fingertips.
Our course is geared to both homeowners and course training for professional property tax consultants.
Once you have the course, you might even consider helping other over-assessed casualties. This specialized work from home property tax appeal business is for both residential and commercial property tax assessment appeals. It’s highly lucrative specially on the commercial business side and residential area with little competition. Only in Texas does one need a property tax consultants license, otherwise its clear sailing.
A paid source for getting data https://www.ownerly.com/ however, we offer free comparative sources.
Learn More Facts and Details, Click: Real Estate Appraisal and Property Tax Appeal Training