Yes. Many property owners believe that their assessments are fair, when in fact, the majority of appealed cases get reductions. It is rare for assessments to be exact as they are based on a mass averaging approach. Many assessments have an equity, market value or data error. If you do nothing old errors may be carried forward creating a higher starting value for future assessments and taxes.
A mass averaging approach is used to determine your property assessment. This creates errors because it doesn’t take into account all the unique attributes of each property. New rules mandate that, even if your valuation is correct , there must be relative fairness between neighbours. So if there are similar homes paying less, there is no reason why you should not too!
History shows that over time, those who appeal and check, save more. They pay less, receive smaller increases and never pay more than they have to. While there are no guarantees, savings of 5% – 15% per year are common.
Your time will not be required. You have nothing to lose. All you need to do is send in your application. You will have a professional on your side to file the applications, appraise your property and manage the entire process for you, including all filings, hearings, documentation, exchanges and requests for information, negotiations and settlements.
It can take a few months to a year to complete the Reconsideration and ARB hearing process for each cycle. The good news is that any tax savings are fully retroactive to January 1st.
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