Has any of you appealed your property value assessment before? Tell me about it and any tips you have for doing so. It appears I have 2 options for appealing. I can appeal to the County Tax Appeal Board or I can file a request for an informal review with the Dept of Revenue. I'm not sure yet what the differences are or which one would be better to do. I do read that if I don't agree with the County Tax Appeal Board I can then appeal to a State Tax Appeal Board.
In our state the property is assessed every 2 years. They just increased our property assessment by 52%! We have done no improvements in the past 2 years. There is no way our value has increased 52% and especially not in this rural area. According to info I can find online from May of 2021 to 2022 property in our zip code increased about 29%. From May 2022 to May 2023 it decreased 1.3%. Overall increase over 2 years of 28%.
Our state has a website where you can click on any piece of property and see who owns it and all the info on it, including the prior assessed values for 2021/22 and the newly released 2023 assessment. They break it down by land and buildings. Our land went up 113% since 2021 assessment. Give me a break.
The first 6 lots here are all 2 acres and are valued the same, went up the 113%. Lot 7 is 3 acres, but for some reason it *only* went up 106%.
Lets compare lot 7. They built the same year we did. In the 2021 assessment they did not have their 2 garages added. The garages now show being added with a 2022 date. For their 2021/2022 assessment their building (just the house) was valued at $310,620. They added 2 garages which total 1772 sf (our shop is 1743sf). Their 2023 assessed building(s) value is now at $428,900, an increase of $118,280 (38%). Makes sense...it should go up based on the cost/value of the 2 garages as well as market value on their house would have went up some. Their "buildings" assessed value went up by 38%. Not sure of that 38%/$118,280 what is considered cost/value of the garages and what is increased house value, but seems somewhat reasonable. (the land at 106% increase, does not).
Our "buildings" went up 44.25%. We have done nothing additional in the past 2 years. Nothing added or improved since our 2021/22 assessment. How does ours go up 44% and lot 7 went up 38% and we didn't add a damn thing?
Mr and Mrs just have a house. Nothing has changed for them either, since last assessment and their building value only went up 29%. How does that work? (Also, how is it that they have a completely finished daylight basement of 2556 sf, yet are only taxed on the first floor of 2556 sf? Their house is 5112 sf in total)
Edit to add about Mr and Mrs place: That 29% increase is in total for land and building. Separate them out like I was doing for ours and Lot 7 - their land increased the same as the rest 113%, BUT their "building" value only increased 17%!! Why did our building value increase over 44%?! They didn't add or improve anything, we didn't add or improve anything.
There are a group of homes that are 2-5 acre lots, high bank on the river, just like ours, about half mile down river. All of those lots went up 58-64%. Their lots and location is no different than ours. Why are all our lots double that? I looked at other lots all along the river in our county. Another neighborhood was also in the 65% increase range. There are 4 1-1/4 acre lots about a mile up river. Each of those lots went up about 65%, as well.
I will be appealing. Never done it before, and was just wondering if any readers have and what their experience was.