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The Water Cooler
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Housing Cost Increase and Taxes
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<blockquote data-quote="SlugSlinger" data-source="post: 3575952" data-attributes="member: 7248"><p>This is the letter I sent in to make the successful appeal of an excessive market valuation. I was asking for a $70,000 reduction in market value and received a 40,000 reduction.</p><p></p><p>Don't be afraid to make an appeal, just have your ducks in a row.</p><p></p><p>Ms. xxxxx,</p><p></p><p>Per the instruction listed in the language within the County Assessor Notice of Increase in Valuation I received, I would like a appeal the values on my property. I am providing the attached information for a telephonic hearing as instructed.</p><p></p><p>My assessed Market Value is ~$30.52 per total area (assumed this is square foot) higher than the most recent comparable arm’s length sales transaction in my neighborhood that completed in 2018. And in excess of $25 per area higher than a less recent arm’s length transaction that completed in 2016 (this property has a pool and other amenities my property does not).</p><p></p><p>The best estimate of market value is using current arm’s length transactions. Using 2 recent arm’s length transactions, my property’s assessed values are substantially higher than true market value.</p><p></p><p>Attached are form 974 (file names xxxx 974), “Assessment Detail” documents from the County Assessor’s website and a document (xxxx Comps) comparing my property to recent arm’s length sales of properties in my neighborhood using current values of additional properties from the Rogers County Assessor’s website.</p><p></p><p></p><p>Thank you for your time,</p></blockquote><p></p>
[QUOTE="SlugSlinger, post: 3575952, member: 7248"] This is the letter I sent in to make the successful appeal of an excessive market valuation. I was asking for a $70,000 reduction in market value and received a 40,000 reduction. Don't be afraid to make an appeal, just have your ducks in a row. Ms. xxxxx, Per the instruction listed in the language within the County Assessor Notice of Increase in Valuation I received, I would like a appeal the values on my property. I am providing the attached information for a telephonic hearing as instructed. My assessed Market Value is ~$30.52 per total area (assumed this is square foot) higher than the most recent comparable arm’s length sales transaction in my neighborhood that completed in 2018. And in excess of $25 per area higher than a less recent arm’s length transaction that completed in 2016 (this property has a pool and other amenities my property does not). The best estimate of market value is using current arm’s length transactions. Using 2 recent arm’s length transactions, my property’s assessed values are substantially higher than true market value. Attached are form 974 (file names xxxx 974), “Assessment Detail” documents from the County Assessor’s website and a document (xxxx Comps) comparing my property to recent arm’s length sales of properties in my neighborhood using current values of additional properties from the Rogers County Assessor’s website. Thank you for your time, [/QUOTE]
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