Another Client with Tax Protest Success

August 5, 2009 at 12:15 pm Leave a comment

This in this morning from a client:
The formal hearing this morning was a small, but still noteworthy success. The board voted to reduce my home’s value by $5,000.

It was definitely a learning experience. My main argument was that the price per square footage among listed and sold properties in my area had decreased since I bought the house a year ago, so it only stands to reason that my appraised value would decrease in line with that – versus increase by $31,000 from 2008 to 2009. However, I could tell one of the panel members thought I was nuts to protest the value of my house, considering what I paid and what the appraised value is. At one point she said “The board appraised your home at about $20,000 less than what you paid for it. And you’re protesting why??”

Anyway, I guess something I said registered with at least one panel member, because she made a motion to reduce the value by $5000 based on the equity of other sold homes in the area. (Or at least that’s how I heard it.) The woman who confronted me passed on the vote and the third member seconded the motion.

Done. Glad I asked. Never hurts, right?

© Julie Nelson and The Nelson Project at Keller Williams Reatly, 2008-2010. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content.

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Entry filed under: Smart Real Estate.

My appraisal came in low/high. ..How lenders establish loan amounts when contract and appraisal don’t match up… 2009 First-Time Homebuyer Tax Credit

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© Julie Nelson and The Nelson Project at Keller Williams Reatly, 2016-2020. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content.

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