Well, that was easy… Not long ago I noted that we were appealing our property tax re-assessment. For those that don’t recall, we renovated last fall and were slapped with an increase that placed our home’s assessed value well beyond fair market value.
I promptly drafted a letter to the Board of Tax Assessors using our next door neighbor’s recent home sale as a comparable sale. Yesterday, just a week or so after having sent that letter, I received a response in the mail. They “field visited” our property late last week and adjusted the value down by 3%, which puts us slightly below the sale price of our neighbor’s house. Not bad for 30 minutes or so of work.
In truth, I still think the assessment is a bit high, as the neighbor’s house is arguably considerably more valuable than ours. That being said, I probably won’t push it further. The next step would be a hearing before the County Board of Equalization, and that could go either way. The comparable sale that we used in our initial appeal is technically too recent to be valid — the house sold in March and the assessment is supposed to reflect our property value as of January 1st, a few months earlier.