Keys to Successful Tax Appeals – Part 6
Key 5 – Know the Opposition
Some jurisdictions use Assessors at the state level, some at the county level, some at the local level, and others hire independent appraisers to defend property values. Your strategy will vary among these four types of Assessors.
State level Assessors have case loads that tend to be so great that they seldom have the time or resources to fight a prolonged case. It is not uncommon for them to make a tax appeal reduction offer that has no bearing on the market value of the property; for them, it is simply a question of reducing their case loads to more manageable volumes. You can often have a successful tax appeal reduction with relatively little staff.
County and local Assessors have much more market-specific knowledge than state level Assessors. They can also have excessive case loads, especially if the local Assessor is part-time, as is the case in many municipalities throughout the United States. You will usually need a good team of professionals or a thoroughly knowledgeable staff to effectively combat this level of knowledge and experience.
The hardest situation to obtain a tax appeal reduction is when an Assessor hires an independent appraisal firm to defend its property value. You will be dealing with a highly trained appraiser and often a very knowledgeable Assessor. The government attorney assigned to the case will also know the law. They are usually a formidable team and you will need to assemble an equal or better team of professionals to maximize the probability of a successful appeal.
Idea: Study past cases where the Assessor has testified on similar properties. How well did he/she defend the case? What type of market valuation technique did he/she rely on? How did the local tax board respond to past cases? This can help you craft the most effective case.
John Simpson, MAI
John – This is an excellent series! As a commercial appraiser for a township assessment office in Illinois, I can attest to the validity of your remarks!
Although this series of articles focuses on commercial property appeals . . .the same rules will apply to residential income properties and even single-family homes.
I’ve taken the liberty of providing links to your articles on the http://www.AppraisalScoop blog
Here’s the link: http://appraisalnewsonline.typepad.com/appraisal_news_for_real_e/2008/06/5-keys-to-succe.html
Thanks!
[...] Keys to Successful Tax Appeals – Part 6 – Key 5 – Know the Opposition – Some jurisdictions use Assessors at the state level, some at the county level, some at the local level, and others hire independent appraisers to defend property values. Your strategy will vary among these four types of Assessors. [...]
[...] Keys to Successful Tax Appeals – Part 6 – Key 5 – Know the Opposition – Some jurisdictions use Assessors at the state level, some at the county level, some at the local level, and others hire independent appraisers to defend property values. Your strategy will vary among these four types of Assessors [...]
[...] Keys to Successful Tax Appeals – Part 6 – Key 5 – Know the Opposition – Some jurisdictions use Assessors at the state level, some at the county level, some at the local level, and others hire independent appraisers to defend property values. Your strategy will vary among these four types of Assessors [...]
[...] Keys to Successful Tax Appeals – Part 6 - Key 5 – Know the Opposition - Some jurisdictions use Assessors at the state level, some at the county level, some at the local level, and others hire independent appraisers to defend property values. Your strategy will vary among these four types of Assessors [...]