What kind of success are people having if they contest their tax assessed value, when the appraised value is lower than their assessment?

Asked by Ryan, Virginia Beach, VA Thu Jan 17, 2013

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Lisa Frensley’s answer
Lisa Frensley, Agent, Fredericksburg, VA
Sun Jan 20, 2013
I have seen many of my neighbors successfully have their home assessments lowered after providing comps to the assessor. We just had re-assessments in 2012 in Fredericksburg and a few of my neighbors were assessed upwards of $100,000 over a home adjacent to them just because it looked smaller from the street (and it was not!). You'll have to compare tax assessments with a few homes in close proximity to yours and provide market data. It is still up to the assessor and you usually have a limited window to appeal. Good luck!
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Kawain Payne, Agent, Seal Beach, CA
Fri Feb 7, 2014
It has been working well here in California.

Many homeowners are having their taxes re assessed, even those who find themselves underwater on their homes.
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Cheryl Talbot, Agent, Virginia Beach, VA
Thu Feb 28, 2013
Here in Virginia Beach and in the Hampton Roads area, sellers are having success. There's an appeal process and it does take time. You will have to be proactive but they are getting reconsideration on high real estate tax rates. Our market has adjusted like many markets, if not all, and the cities of course don't want to see the rates go down. The ciites need the money. Yet if you can prove the assessed value is way to high over market, we are seeing adjustements being made. If the seller has a good case, they should reconsider. Good Luck!!
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