Boise Appeal Property Tax Assessment
According to state law, County Assessors are required to determine current market value on all taxable property each year which includes the (tax burden) on your home. The Assessor’s value conclusion is based on an appraisal process. That process ranges from analyzing recent home sales in your area, reviewing construction and replacement cost tables, to calculating the allocation (percent of value) of land and improvements. The tax appraisal may or may not require a personal inspection of your home. The sources for the information gathered by Assessors includes regional Multiple Listing Services where home sales activity is tracked, along with interviews with other property owners, builders, land developers, and real estate brokers.
As a homeowner, you may at some point determine that the Assessor’s ad valorum or tax appraised value is higher than what your home would fetch from a prospective buyer on the open market. Fortunately, there’s a process in place to help you remedy the overvaluation dilemma. The process essentially allows each homeowner a window of opportunity within a time commonly known as “tax appeal season” to submit relevant market information to substantiate an opinion which challenges the assessor’s findings. Some homeowners elect to “go it alone” and submit information that they think will demonstrate a lower or more realistic value – in favor of a lower tax base. However, most often an independent third-party real estate appraisal will be the best way to get the most accurate indication of value.
That’s where the professionals at Appraisal One can help! There are many different procedures for appealing tax assessments. So it’s important to enlist the help of a professional appraisal company that’s well experienced and trained on the ins and outs of the appeal process. Not only are we trained to analyze current market trends and how they impact values in and around your neighborhood, we’re also trained and experienced in applying quantifiable adjustment indicators. These indicators help to reconcile differences and market preferences to things like insufficient garage space, as well as the number of bedrooms and bathrooms in your home compared to competing homes within your immediate area. We’re also versed in measuring qualitative differences in the market for side-by-side comparisons of components such as kitchen and bathroom upgrades, and differences in overall construction quality. These are factors that require a specialized skill set to extract bits of information from the real estate activity near your home – all within specified time parameters or sales dates.
We’re very thorough in our approach to each appraisal. We’re bound by professional standards including the Uniform Standards of Appraisal Practice (USPAP) not to take “shortcuts” within our independent valuation. When you hire Appraisal One for an assessment appeal you’re commissioning an independent third-party to deliver a professional appraisal report. We perform our own in-depth analysis and evaluation from top to bottom. If our findings support the opinion that your home has been overvalued, an independent conclusion such as ours is likely to be more concise and more persuasive than the pieces of information you can gather on your own. As appraisers, we have access to the Intermountain Multiple Listing Service which is the same data source that local Realtors rely on as a primary data source for home sales.
Depending on the circumstances, a hearing may be scheduled to review your assessment appeal. If so, the appraiser you hire may be asked to testify on your behalf. You can be assured that Clay Hall with Appraisal One is competent to professionally and persuasively testify at appeal hearings. Browse our website to learn more about our work history, experience and services offered.