This is a graph I put together earlier today for a home owner as part of the total package for appealing his property taxes. All dots represent model match sales over the past three years in a specifically defined neighborhood in the Sacramento area. The Assessor’s Office bases their value for this year on January 1, 2009, which is represented by the vertical line. For reference, I also included all model match sales through November 2009. What do you see? How does this graph strike you?
When looking at all model match sales, it’s not hard to see that the Assessor valued this property too high. In this case, the assessed valued was only about $30,000 higher than true market value, but this amount is still $300+ out of the home owner’s pocket for the year. It’s more common for me to help property owners dispute their taxes for residential properties when there is a greater savings of $500, $1000 or even thousands of dollars, but in this instance the home owner felt strongly about moving forward to contest the Assessor’s value.
Let me know if you have any questions. Remember, the deadline for appealing property taxes in many counties surrounding Sacramento is November 30, 2009.
www.SacramentoTaxAppeals.com The Assessor’s Value vs. True Market Value
1 Comment
Pingback by Sacramento Property Tax Appeals » Blog Archive » The Assessor says $210k, but Market Value is $130k: A Real Life Property Tax Appeal Situation — November 17, 2009 @ 7:06 pm
[...] I posted a graph showing the difference between assessed value and market value. Today I have one more real-life example of this phenomenon. The property below was assessed at [...]
RSS feed for comments on this post. TrackBack URL
Leave a comment