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Old 03-04-2010, 12:31 PM
 
51 posts, read 192,939 times
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Real Estate Property Tax - Reassessment ... Help

Has anybody had experience (success) in having "over-valued" real estate reassessed to a lower taxable value? There is a parcel (lot and house) that is listed in the West Central Arkansas MLS for $100,000 LESS than the County Assessor has the property valued. Bad news for buyer who has to pay the extra (excess) real estate property taxes.

Bottom line is that, with the "over-valued" assessment, a buyer would have to pay an extra $1,000 or more a year for a property appraised by the County Assessor at $100,000 more than the MLS (the "seller") is asking for the real estate!

Probably, propsective buyer would have to make the case with the County Assessor and Equalization Board for reassessing (lowering) the appraised value. Is this a battle worth fighting, or a pipe dream? Any suggestions?

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Last edited by Zoltani; 03-04-2010 at 12:36 PM.. Reason: typo
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