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appraisal value too high

Posted on: 28th May, 2009 06:33 am
I purchased my home in December 2007. In 2008 the appraisal value increased by 14% from 2007, shouldn't be over a 10% increase! I paid my taxes on that value and now in 2009 it has increased 9%. Is there anyway to fight the 2008 appraisal value? I don't expect to get money back but I want to start at a lower value so I don't keep getting screwed.
Hi jennym!

Welcome to forums!

If you think that the appraiser has gone for an inflated appraisal, then you can take legal steps against him. However, I would suggest you to contact a lawyer and discuss your options with him first. This will help you know what steps you need to take.

Feel free to ask if you have further queries.

Sussane
Posted on: 28th May, 2009 08:58 pm
Hi Jennym,

I assume you are referring to the tax assessor, not a certified appraiser. If so there are steps that can be taken to dispute the tax assessment. This will vary by jurisdiction but usually starts with having an appraisal done by an certified appraiser that specializes in these types of assignments. This is particularly important because there are specific rules that must be followed by the appraiser and may not be known by all appraisers such as the date of valuation and methods of mass appraising etc. not to mention that they will need to be ready to testify if/when necessary. This type of appraisal will also be more expensive than the typical appraisal and additional costs will be incurred if necessary to testify. I am not sure what the typical fee structure is like in your market, but I would go ahead and prepare you for the gasp.

This process is not for the person that wants to dispute a couple hundred dollars for the year unless it is on principles alone because it can get quite expensive.
Posted on: 29th May, 2009 08:14 pm
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