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Tax Appeal on my property. Appraise myself or hire someone else?

Hi, Received my new tax assessment from the town I own real estate in Connecticut. I'm a Certified General Appraiser. Can I do this appraisal myself and just disclose that I do have a "Present interest in the property" or, should I hire an appraiser with no "present or prospective interest in the property". Your thoughts are greatly appreciated..

Jim Mable

Tags: appeal, tax

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Permalink Reply by Brian Davis on March 18, 2009 at 6:18am: Jim -

Short Answer: You can do it yourself.

Longer Answer: Each state and County has their own requirements for filing "Assessment" Appeals. I'm confident that virtually ALL have no provision that would prohibit a homeowner from appealing the assessed value of their personal residence. Obviously, ALL homeowners have a vested interest in the outcome of the hearing!

If your appeal advances BEYOND the local Board of Review at the County level . . .you might want to engage another appraiser for the sake of appearances. That way YOU can have the appraiser attend the formal tax hearing and you can "script" your testimony . . eliciting the strong points in his/her appraisal to support your case.

Ad Valorem (assessment) appeals must be comply with your state/local reqlations. Be SURE you know the "Rules". What's the effective date of valuation? Are you appealing on market value or baseing your appeal on in-equitable assessment (your home's higher than your neighbor's)? etc. etc.; ▶ Reply to This

Permalink Reply by James Mable on March 18, 2009 at 6:41am: Hi Brian, Thanks for your quick and informative response. Because this is not a real estate transaction, nor for financing and the appraisal would be used in no other way than to appeal my tax assessment, I thought it would be OK to do the appraisal myself, but was not sure and may get another based on your thoughts mentioned.

We have already had the informal appeal with no change and now it goes to the formal appeal made up of three (3) local citizens (thats the way they do it in CT). The effective date is Oct 1, 2008 so I know I need comps to support that timeframe. The property is a condo and I am appealing as their market value is based on only 2 sales that were completely remodeled with many upgrades (with one having a seller concession not factored in) while another 4 sales sold at a much lower price were completely ignored.

The value I estimate and the difference in taxes to be saved yearly if I am succesful is only around $350 per year, so I have to ponder my choice as to appraise it myself or hire another.

Thanks for the response!!

Jim Mable; ▶ Reply to This

Permalink Reply by Brian Davis on March 18, 2009 at 6:58am: Jim - I'm the commercial appraisers for the City of Bloomington, IL, so I've heard my share of appeals over the years. Your 3-person appeal is what WE still consider "informal" and handled by homeowners.

The "Formal" appeal is what we call PTAB (Property Tax Appeal Board) and is conducted by a state hearing officer with a "court recorder" on hand to record the proceedings. THAT'S the one where I would recommend having an independent appraisal completed.

Just me talking . . . I'd handle my own before the local 3-person board.

Again . . .can't stress this enough . . .KNOW THE RULES! Sort of like the differences in doing a mortage appraisal vs an ERC assignment. Different values . . .different rules.; ▶ Reply to This

Permalink Reply by James Mable on March 18, 2009 at 7:25am: Brian, Thanks for your reply again! The first informal appeal was with the revaluation company who inturn forwarded their findings witht he tax assessor. No change. Second (next one) is with the 3 person board of citizens where I now think I will appeal representing myself (thanks!). Then (as you noted) the next process would be with the state hearing if we get no satisfaction in this next one.

Again, Thanks for your input!! Greatly appreciated..

Jim; ▶ Reply to This

Permalink Reply by Kevin on March 24, 2009 at 1:36pm: I would think so. You are providing data in the appeal to support your case. In Florida you are not required to have a appraisal. Just provide the data that justifies a lower assesment. Also as long as you disclose your license and interest.; ▶ Reply to This

Permalink Reply by James Mable on March 24, 2009 at 4:57pm: Kevin, Thanks for taking the time to reply to my question.. I have appealed the informal, now will appeal the formal as an owner and appraiser myself.. If need be, will take them to court as the assessments are just so far out of wack and decide from there if I represent myself or hire another...

Thanks again, Jim; ▶ Reply to This