{"id":129,"date":"2017-09-13T09:20:23","date_gmt":"2017-09-13T09:20:23","guid":{"rendered":"https:\/\/medium.com\/@arthamoney\/saving-money-on-your-property-taxes-using-valuation-appeal-70bf55c0e96f"},"modified":"2017-09-13T09:20:23","modified_gmt":"2017-09-13T09:20:23","slug":"saving-money-on-your-property-taxes-using-valuation-appeal","status":"publish","type":"post","link":"https:\/\/madrasrealty.com\/?p=129","title":{"rendered":"Saving Money on Your Property Taxes using Valuation Appeal"},"content":{"rendered":"<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/cdn-images-1.medium.com\/max\/800\/1*Xv4ccGEHOBSSPsoTYlrDiw.jpeg\" alt=\"\"\/><\/figure><p class=\"wp-block-paragraph\">A little work can mean a lot of savings!<\/p><p class=\"wp-block-paragraph\">Homeowners can potentially save hundreds or even thousands of dollars each year by taking a little time to review their property tax year by taking a lithe time to review their property tax assessment and following a few simple steps to negotiate a value reduction. What\u2019s the secret to saving money on your property taxes!\u2026 Simply put, you must do your \u201chome\u201dwork.<\/p><p class=\"wp-block-paragraph\">Your assessor appraises properties on a mass basis and generally will not value your home in the same manner as an Independent appraiser. Assessors are required to perform valuations in a uniform and equal manner and may not recognize legitimate Issues or problems which could affect your home\u2019s value. The assessor\u2019s \u201cmass appraisal\u201d techniques often results In unintentional errors in your home\u2019s appraisal.<\/p><p class=\"wp-block-paragraph\">The first step is to gather the relevant facts Always measure your home\u2019s square footage. An error in the assessor\u2019s records can cost you year after year. Assessors measure the exterior of your house to determine the area. Remember to separate non-livable areas should as garages, storage areas, basements, and utility rooms. if you need help, consult your contractor, realtor, or the assessor\u2019s office for assistance.<\/p><figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/cdn-images-1.medium.com\/max\/800\/1*8SAOLFKBWTmZX5UnNc_EEA.jpeg\" alt=\"\"\/><\/figure><p class=\"wp-block-paragraph\">Second, review the sales of comparable homes in your neighborhood. Sales data is the life-blood of any appraiser. If you may need help in obtaining this information, a local realtor can help you gather this Information, often In hopes of a future listing from you. Some realtors will perform a \u201cbroker\u2019s analysis\u201d of the sales and listing In your neighborhood for a small fee. This it done, then we can go a long way in helping you convince the assessor your home is \u201cover-appraised\u201d. It\u2019s time to call, or better yet, meet with your assessor. Authorities will allow a homeowner opportunity to meet informally with assessor or employee in order to negotiate a value settlement. Be confident, polite, and courteous. Treat them as you would want to be treated. Present the facts you have gathered and listen to the assessors explanations. If the assessor agrees, congratulations, the assessor will provide a quick method to confirm a change In value. If things do not go as you plan, then Its time to do a valuation appeal.<\/p><figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/cdn-images-1.medium.com\/max\/800\/1*3sCg5AYSRGDotmHtrh4-aQ.jpeg\" alt=\"\"\/><\/figure><p class=\"wp-block-paragraph\">Disputing the Valuation Appeal\u200a\u2014\u200aMost states have a \u201cboard of review\u201d which allows homeowners an opportunity to present their facts to an independent panel at hearings which are less formal than a courtroom. You will be assigned a date and formal than a courtroom. You will be assigned a date and time to appear. At hearings, you and the assessor will each be allowed an opportunity to present value evidence.<\/p><figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/cdn-images-1.medium.com\/max\/800\/1*3QjL8A4BU1-iQazOhvZ5ww.jpeg\" alt=\"\"\/><\/figure><p class=\"wp-block-paragraph\">The sad fact is that most homeowners do not show up for their hearings. Just attending the hearing Increases your chances of a reduction. Most panel members are also homeowners, and will understand your legitimate issues as long as you present them in a factual and respectful mariner. At the end of the hearing, the panel will make a decision regarding the value of your property. Most states allow you to appeal the review board\u2019s decision to court and many have a low-cost arbitration option.<\/p><p class=\"wp-block-paragraph\">Win or loose, you have participated in the process. You have received a great education in the workings of local government, and have possibly saved yourself great deal of property tax savings to boot! if you did not win, remember. each year\u2019s value stands on its own; Try again next year, your now an expert! Good luck.<\/p>","protected":false},"excerpt":{"rendered":"<p>A little work can mean a lot of savings! Homeowners can potentially save hundreds or even thousands of dollars each year by taking a little time to review their property tax year by taking a lithe time to review their property tax assessment and following a few simple steps to negotiate a value reduction. What\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-129","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Saving Money on Your Property Taxes using Valuation Appeal &#8212; OpenRealty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/madrasrealty.com\/?p=129\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saving Money on Your Property Taxes using Valuation Appeal &#8212; OpenRealty\" \/>\n<meta property=\"og:description\" content=\"A little work can mean a lot of savings! Homeowners can potentially save hundreds or even thousands of dollars each year by taking a little time to review their property tax year by taking a lithe time to review their property tax assessment and following a few simple steps to negotiate a value reduction. 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