Today the property assessment function is much different than in previous years. Not only is the assessment now based on the current value of your property, but also , starting in 2005 this value is changed every year. It is up to the property owner to produce a reasonable case as to why their property value is too high. This is where a consultant can assist you in the preparation of this information.

Facts to Consider:

• Did you know that approximately 50% of the assessments questioned are probably incorrect and should be altered?
• The Assessment Review Board confirms approximately 50% of these assessment values that are incorrect because the property owner was not prepared for the hearing.
• Those property owners who have prepared a good case generally are successful in getting their taxes reduced.
• Did you know that your property value could be based on sales of property from other subdivisions because the assessor has not considered sales in your immediate vicinity?
• Most assessment reductions are a least 5%. For an average $3,000 tax bill, you would save a minimum of 450.00 over the 3 year period of that assessment.
• If you are successful the average minimum assessment reductions under this new current market value system are a least 10%. For an average $200,000 assessment, you would save a minimum of $320.00 in taxes annually.

I can give you two alternatives on how to prepare for your assessment appeal.

• Do-it-yourself with assistance from the consultant for a very modest fee.
• Hire a consultant to review and prepare the appeal process for you at a fee that is very competitive in the market place.

As your consultant, I will give you an honest opinion on whether your assessment is accurate in order that you do not waste your time and efforts. Many property assessments are accurately done. There are also many assessments that need to be adjusted. A fair estimate would be 20% to 30% of the properties need this adjustment. However, many property owners do not question their property assessment and thus continue to pay higher taxes for many years.

A recent client of mine had been paying taxes on an inaccurate square footage due to an incorrect calculation of the second floor area of their house. This error existed for approximately 5 years. The assessment was reduced by approximately 15%. This amounted to $500.00 in taxes or $2,500 over the five years that the assessment was incorrect. Do not take for granted that the value is correct, everything should be reviewed before accepting your value.

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