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Mary, Other/Just Looking in Chicago, IL

How can a tax assessment be contested & how do we get an accurage market analysis of waterfront property on Lake Keowee, SC.?

Asked by Mary, Chicago, IL Tue Oct 11, 2011

Our property taxes went up 15% but when we looked into putting our lot on the market the listing price that was recommended after a realtor's market analysis is 20% less than what we bought it for 5 years ago. So if we were to put the lot on the market it would be listed at 35% less than what the tax assessment is. What is our recourse in contesting the new tax assessment? In this economy there have been very few lots sold over the past few years so it is difficult to get comps. How can a county assess at such a high rate when it is known in this economy property would never sell at that price.

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Talk to your REALTOR and get some recently sold comps to give to the appraiser. Also look at the taxes of adjacent lots and see if any of those properties are being taxed at a lower level. Also paying for an appraisal may be an option to show the county what the current value of the property is.

I know how aggravating an experience this is. I had to fight for 3-4 months and make several trips to the county tax office to get my taxes lowered to a reasonable amount. It seemed that if I called I was not making any progress but face to face meetings worked better. Be persistent but try to remain polite and courteous. You catch more flies with honey than with vinegar.
0 votes Thank Flag Link Wed Oct 12, 2011
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