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How To... in Harleysville : Real Estate Advice

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Fri Jul 25, 2008
Andrew Smith answered:
I am an agent in Montgomery county (Jenkintown) and I have assisted many homeowners with the assessment appeal process. First, you need to determine if you have a case. Here in Montgomery county you convert your assessment to a market value by dividing your assessment by .508 (that's point 508). That is almost the same as simply multiplying it by 2. Then you compare that to what you feel your home is really worth. For example, if your assessment is 230,000 dividing that by .508 means that you are paying taxes on a value of $452,756. If you are sure that your home is worth more than that then you would not want to file an appeal as it means that you are under assessed. But lets say that you think your home is only worth $350,000 and recent sales of similar homes (within the last year) back up your opinion. Then you have a great case. Feel free to e-mail me for more information. Sincerely,
Andrew Smith
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