For the last 5 or 6 years, our county tax assessor has attempted to increase our "assessed value" by the maximum allowed by law, 10%, regardless of what was really going on in the market. I finally got smart and started challenging the increases (I try it now every time, regardless of what the increase is), and found out it's fairly simple to reduce it, if not eliminate it all together, saving us hundreds each year.
You'll have to see what the procedure is in your area, but here around Feb/Mar I get a notice of the increase for that year (it's always in increase) and there is a deadline to make an appointment (usually around the end of April) if you wish to challenge. Make the appointment! It's important to get a number of comparisons for similar homes that have sold recently showing lesser value, and to inlclude in the evaluation anything that would detract from your homes value that they may not be aware of... i.e. cracks in brick, need for paint, etc. Take pictures and bring them with you. I've been so successful, that our home has the lowest valuation in our neighborhood for the same floor plan... and there are at least 6 (good for tax purposes). Granted, it's going to be increasingly more difficult to reduce the increase in valuation, but even if I'm not successful in future years, I've saved money up to this point.
I've been trying to spread the word here, but am continually surprised at how many don't try.
Have you guys done this?
