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Did you ever had to dispute your property value?

Appraisals came out on Monday and my property value is way higher than it should be. I disputed it. Did you have any luck getting yours lower?

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Anonymous

Asked by Anonymous at 5:58 PM on Apr. 28, 2010 in Money & Work

Answers (4)
  • My dad has done it and was successful in getting the property appraisers to lower the value of his house. He had to point out all the things that they said the house had that it did NOT have which raised the value.....for example their house doesn't have central a/c, I guess they just 'assume' that all houses in FL have central a/c. There were other things too, but I don't remember what they were. Also you can research the value of similar homes around you to see what they are appraised at to see if you are way to high or normal for your neighborhood.
    slw123

    Answer by slw123 at 6:12 PM on Apr. 28, 2010

  • In Chicago, properites are reappraised every three years; I have won my disputes two of the three times that I have filed.
    rkoloms

    Answer by rkoloms at 6:55 PM on Apr. 28, 2010

  • We did that once, and successfully got it reduced. They thought we had a two car garage or something like that. It's been a while, so I don't remember. We just wrote and asked them to come out and see the house.
    Iamgr8teful

    Answer by Iamgr8teful at 9:46 PM on Apr. 28, 2010

  • This is a thing of the past, and if the economy ever recovers it may return. Having your tax appraisal reassessed and hoping for a lower amount will not happen in areas where tax revenues are down. In fact they are going up to make up for the difference in tax revenues no longer being paid anywhere else. In our area, tax assessments are almost 12% higher than real estate appraisals. Upside down, and it's confusing the hell out of everyone in the real estate market right now. Nobody knows how to appraise a property anymore, the historical guidelines are no longer valid for today's market.

    jewjewbee

    Answer by jewjewbee at 10:45 AM on Apr. 29, 2010

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