Anonymous wrote:Anonymous wrote:I appealed about 6 years ago when all appeals were in person and listened to about 5 people ahead of me. The appeals board members really wanted the comps that you used to be in the right time frame, which I think was 6 months before the appraisal date. Be prepared to explain why what the county used for comps aren't comparable (i.e., gut renos and you have a copy of the Redfin listing with a couple of photos vs. your 60s baths and kitchen) and why the sales you picked are. Then calculate out the average price per square foot of your comps and use it to estimate your home's value.
+1
Do not bother comparing your assessment to other properties' tax assessments. Our problem is that other comparable properties' assessments are much lower than ours. But our assessment is in line with recent sales so it doesn't matter. It means we bear a relatively higher tax burden than others with properties of the same value but which are under assessed. There is nothing we can do about that.
Anonymous wrote:I appealed about 6 years ago when all appeals were in person and listened to about 5 people ahead of me. The appeals board members really wanted the comps that you used to be in the right time frame, which I think was 6 months before the appraisal date. Be prepared to explain why what the county used for comps aren't comparable (i.e., gut renos and you have a copy of the Redfin listing with a couple of photos vs. your 60s baths and kitchen) and why the sales you picked are. Then calculate out the average price per square foot of your comps and use it to estimate your home's value.
Anonymous wrote:Anonymous wrote:Just got my assessment today and now the assessment is higher than the market value of our house. Is that normal? I thought the assessments were always slightly below value?
Yes, this happened to me a few years back (I posted above). Take the time to appeal - review the comps and the latest market value assessment you’ve had done on your home.
Anonymous wrote:Anonymous wrote:I appealed about 6 years ago when all appeals were in person and listened to about 5 people ahead of me. The appeals board members really wanted the comps that you used to be in the right time frame, which I think was 6 months before the appraisal date. Be prepared to explain why what the county used for comps aren't comparable (i.e., gut renos and you have a copy of the Redfin listing with a couple of photos vs. your 60s baths and kitchen) and why the sales you picked are. Then calculate out the average price per square foot of your comps and use it to estimate your home's value.
+1
Do not bother comparing your assessment to other properties' tax assessments. Our problem is that other comparable properties' assessments are much lower than ours. But our assessment is in line with recent sales so it doesn't matter. It means we bear a relatively higher tax burden than others with properties of the same value but which are under assessed. There is nothing we can do about that.
Anonymous wrote:Anonymous wrote:There have been past threads on this issue if you search. But the bottom line is that an appeal can be successful if there are comps to back up your position. However, in the past three years, prices in MoCo have gone up dramatically, so if you haven't been paying attention to sales in your neighborhood, definitely spend some time on zillow or redfin doing your research. The 50% increase might not be as inaccurate as you believe.
OP, can you tell me what your neighborhood is in MoCo?
I’m also in MoCo and just got a notice that my property assessment went down by $40K. I’ll take not paying more taxes as a win but it’s disconcerting overall. My neighborhood is in Silver Spring and I’m worried this is the start of housing values plummeting.
Anonymous wrote:I appealed about 6 years ago when all appeals were in person and listened to about 5 people ahead of me. The appeals board members really wanted the comps that you used to be in the right time frame, which I think was 6 months before the appraisal date. Be prepared to explain why what the county used for comps aren't comparable (i.e., gut renos and you have a copy of the Redfin listing with a couple of photos vs. your 60s baths and kitchen) and why the sales you picked are. Then calculate out the average price per square foot of your comps and use it to estimate your home's value.
Anonymous wrote:Just got my assessment today and now the assessment is higher than the market value of our house. Is that normal? I thought the assessments were always slightly below value?
Anonymous wrote:We just received our latest county property value assessment for taxation purposes. We have lived here for many years at around the same valuation. It suddenly jumped 50% so our already hefty property taxes will sky rocket.
Has anyone else experienced something similar and successfully challenged the valuation?
TIA
Anonymous wrote:There have been past threads on this issue if you search. But the bottom line is that an appeal can be successful if there are comps to back up your position. However, in the past three years, prices in MoCo have gone up dramatically, so if you haven't been paying attention to sales in your neighborhood, definitely spend some time on zillow or redfin doing your research. The 50% increase might not be as inaccurate as you believe.
Anonymous wrote:There have been past threads on this issue if you search. But the bottom line is that an appeal can be successful if there are comps to back up your position. However, in the past three years, prices in MoCo have gone up dramatically, so if you haven't been paying attention to sales in your neighborhood, definitely spend some time on zillow or redfin doing your research. The 50% increase might not be as inaccurate as you believe.