Any help in contesting your tax bill since your house is not realistically worth the rate being taxed.?

Asked by Over Taxed, Coventry, RI Wed Oct 27, 2010

I have a scheduled hearing to contest my tax bill and looking for ideas, references and any thoughts since the value is not accurate. Will the town just say the rule is it doesn't matter what happens during the years between evaluations? Reference for that and is there a case to be made to try to get it lowered?

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Joe Pfeil, , Providence, RI
Wed Oct 27, 2010
If you have recently refinanced or bought your home, the bank or financialo institutuion would have required that an appraisal be completed on the property. Rhode Island for the most part, assesses on a !00% valuation. Bring the appraisal to the tax office...ask them to abate the tax bill based upon the current appraisal. Having a CMA (Current Market Analysis) completed of similar properties in your community, based upon square footage (above ground) would be helpful. Most appraisers use current comps (within 90 - 180 days) to complete their work. Most banks will look at a BPO (Brokers Price Opinion) of similar properties within a community in determining the real value of a property. One last thing, most communities will not consider rebates until a new fiscal year begins. Some use the calendar year for abatements.
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The Bellevue…, Agent, Newport, RI
Wed Oct 27, 2010
I prepare a great deal of tax appeals for my clients and have been doing so for over 10 years. I've found the best approach is to ensure parity for all the properties in the area. For example, check to see what the building value per square foot is for your neighbors and then check the land value per square foot. If there is a significant difference, you have a good case.

Sales comparisons need to be within the tax value year, not ones that may have closed in the past few months.

I hope this is of help.

Please let me know if I can be of any assistance.
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