Protocol For Challenging Re-Assessed Property Values


Every five or eight years depending on where a person lives, property values are re-assessed. With news of recovery rolling in weekly, county auditors are reporting that home values are slated for an increase. With this value increase is a property tax increase as well. What options does a homeowner have to react to their new home assessment? Here are a few:


Do some research of your own. Find comparable houses in your area (free and public information) and get a feel for the going rate of your home and similar homes. If you are comfortable enough, talk about the auditors proposed value of their properties too.


“Once you’ve gathered real value data, compare it to the new figure your country auditor has determined—and keep in mind that short sales and foreclosed property figures are typically not considered as a valid form of value comparison. If you still feel confident that there is a discrepancy between the “real” and reassessed value of your property, Marsh Bilby of Marsh Bilby Appraisers & Consultants, LLC says the first step is to understand how the appraisal process works, and the potential costs that it carries.” READ MORE ABOUT COSTS HERE


The process of challenging an appraisal is costly both financially and time-wise so do as much background work prior to starting the challenge. If you intend to sell your home soon, it is vital you are privy to the value of your home as determined by factors outside of the county appraisal. As a homeowner, these values should be kept in mind but not stressed about too much. When you go to sell, a Realtor will be able to see the trends and partners of your area and know the best steps to take to get you the biggest return.


**These county appraisals are different than the home inspection that was done upon your purchase of the home. An appraisal is based upon formulas and statistics and the appraiser will likely never even see the inside of your home. They look at the figures and data for the area in which you live.


Comment balloon 3 commentsJenifer Lower • August 21 2012 07:14AM


Good post, Jennifer.  I think every home owner should do the research (or call an appraiser ;)  ) and look at their properties assessed value compared to market value.

When I do an appraisal I notice many times that there is a large discrepancy between the market value I find and the county's assessed value.  I remind the borrower (in the case of a refi) or the agent if it's a purchase that the appraisal can be used to challenge property taxes.  Of course in some cases the tax value is lower than the market value.

Also, people need to check with their tax office so they can find out exactly when the time to challenge is because in many areas they have a specific time frame that must be adhered to. 

Posted by Alisa McKeel Willson, Certified Res. Appraiser (Appraisal Pros in Texas) about 6 years ago

That'll be interesting to see how it plays on down here. We too have discrepancies between what we see in the county's assessed value and what I see when I do comparables through the MLS.

Thanks for the additional information Alisa!

Posted by Patty Da Silva, Davie, Southwest Ranches Cooper City, Plantation, Weston, REALTOR, Top Listing Broker (BROKER of Green Realty Properties® - 954-667-7253) about 6 years ago

Jenifer-I understand the property tax assessment is used to determine the tax bite the entity will take. It's basically used to get the proportional payment from each property owner needed for the taxing entities. It does seem that by not accepting short sales and foreclosed sales data they are not taking a realistic view of the market. Maybe for taxing purposes that's OK, they just want the money.

Posted by Wayne Johnson, San Antonio REALTOR, San Antonio Homes For Sale (Coldwell Banker D'Ann Harper REALTORS®) about 6 years ago