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Old 10-15-2015, 02:46 PM
 
12 posts, read 12,109 times
Reputation: 15

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I have an upcoming appeal hearing on December 1st and now I realize I have no idea what to do to try to win my appeal! Has anyone gone through this successfully or unsuccessfully? Would appreciate any advice/insight.

Thanks!
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Old 10-19-2015, 08:04 AM
 
Location: Charlotte, NC
39 posts, read 35,551 times
Reputation: 86
It depends on why you are arguing the value.

If it's because of comp sales, bring an appraisal from 2010 or 3 comps that sold in 2010. Must be comp sales BEFORE the reval date Jan 1 2011. Comps or appraisals from after Jan 1 2011 are not going to be considered.

If because the house is not in the condition that the city has based value on, bring pictures of damage that would negatively affect value.

If it's because of adjustments that have not been accounted for (busy street, train tracks, easements), bring proof of that.

If it's because you just think the house is overvalued and you haven't really prepared, well, then be prepared for a quick hearing and same or higher valuation
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Old 10-19-2015, 10:17 AM
 
186 posts, read 215,064 times
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Appraisals usually like city homes to have comparables to be homes sold within half mile and six months. In 2010 it was more difficult to meet that requirement. I used the revaluation appraisals of comparable properties of size, age, location, materials and so on. My best comparable was the only sale property that met the above qualifications and was for lower sale price than my reval price. I made my appeal with copies of all materials. It appears that only the sale property was considered since the reduction was close to that of the sold property and the other properties included as comparables by appraisal (not sale) were apparently ignored. My revaluation was reduced 14,000$. Not as much as I wanted but I decided not to appeal further and accepted it.

You can start a search here:

Real Estate Lookup
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Old 10-19-2015, 11:32 AM
 
5,869 posts, read 7,700,210 times
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I never actually had to go to the hearing. As was said, just use comparable sales but has to be as of 1/1/11. I think the best one I used was 2 miles away (but was same builder and same size, bedrooms, etc. and same schools). Also make note of any qualities that they wouldn't know from just looking at comparable sales - is it in a flood zone, etc.

You can use this site as a start for comparables but of course can find your own as well - Mecklenburg County, NC - Analytics
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Old 10-19-2015, 03:35 PM
 
900 posts, read 1,396,016 times
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You appealed, but don't have an idea on how to win? Shouldn't you have that data BEFORE you appealed in the 1st place?

Anyway, I showed up and did mine last week. I was there for an entire hour. Show up with your documents and have copies. Explain your case and they will let you know within 6 weeks. It's a very laid back process.
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Old 10-19-2015, 06:55 PM
 
Location: Charlotte, NC
4,760 posts, read 6,407,764 times
Reputation: 5236
Have proof of your values and comps in the area. Be persuasive and keep their attention.

Best I can tell you.
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Old 11-23-2015, 06:45 PM
 
12 posts, read 12,109 times
Reputation: 15
Thanks everyone for your replies. Very helpful! I especially appreciated the idea to look up tax values for homes done by the same builder.

For the poster who questioned why I don't already know what I should do to win the appeal, let me clarify. I'm not sure how to win an appeal when there are no reasonable comps. That's the major challenge I'm facing. There are no comps for new construction in our neighborhood of similar size/quality for the six months leading up to 1/1/2011. (Most of the newer homes were built after that date). The city based our tax value on our neighbor's house (which was built in 2008) and is overvalued in my opinion.

The good news is that we have already gotten the value lowered a little based on the initial 10-page packet of support information I submitted to the city with the appeal back in May. They had several things wrong in our property information card (e.g., square footage, materials used, foundation type) and after correcting for that, the value dropped by $30,000. I still think it should be lower based on what I'm seeing for other similar homes in our neighborhood.

Soooooo, based on my research thus far, we need to convince them that the "very good" grade they have given our house should be "good" instead. That will drop the value by about $80k so I'm going to continue to hunt for good comps! I have found one already by the same builder about 1.5 miles away that meets this criteria.

Thanks again!
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Old 11-24-2015, 02:05 AM
 
Location: Charlotte, NC
4,760 posts, read 6,407,764 times
Reputation: 5236
Quote:
Originally Posted by USCRugbyNo1 View Post
You appealed, but don't have an idea on how to win? Shouldn't you have that data BEFORE you appealed in the 1st place?

Anyway, I showed up and did mine last week. I was there for an entire hour. Show up with your documents and have copies. Explain your case and they will let you know within 6 weeks. It's a very laid back process.

I'm way late, but it's better than never.

There isn't exactly a handbook on how to fight the value that was put on any property. You know if it's right or if it's wrong. Many of them were off significantly. I can certainly attest to that. I've had more than a few get adjusted radically.

If you saw earlier threads on this topic, I attended meetings and was told by a commissioner I didn't know what I was talking about. It made no difference that I had been in the property management business for 15 years at that point. Mr. Dunlap made that point to me. Thanks to him, I now know how clueless I really am regarding what my properties are worth. Oh, most of them wound up being reassessed for 50%, or more, less. Seems Mr. Dunlap wasn't as smart as he thought he was. He was a pretty pompous ass at that meeting.

Pearsons even got some wrong. I'm glad they got mine right, but they still messed up on a few.
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Old 11-24-2015, 02:08 AM
 
Location: Charlotte, NC
4,760 posts, read 6,407,764 times
Reputation: 5236
Quote:
Originally Posted by hbsmama View Post
Thanks everyone for your replies. Very helpful! I especially appreciated the idea to look up tax values for homes done by the same builder.

For the poster who questioned why I don't already know what I should do to win the appeal, let me clarify. I'm not sure how to win an appeal when there are no reasonable comps. That's the major challenge I'm facing. There are no comps for new construction in our neighborhood of similar size/quality for the six months leading up to 1/1/2011. (Most of the newer homes were built after that date). The city based our tax value on our neighbor's house (which was built in 2008) and is overvalued in my opinion.

The good news is that we have already gotten the value lowered a little based on the initial 10-page packet of support information I submitted to the city with the appeal back in May. They had several things wrong in our property information card (e.g., square footage, materials used, foundation type) and after correcting for that, the value dropped by $30,000. I still think it should be lower based on what I'm seeing for other similar homes in our neighborhood.

Soooooo, based on my research thus far, we need to convince them that the "very good" grade they have given our house should be "good" instead. That will drop the value by about $80k so I'm going to continue to hunt for good comps! I have found one already by the same builder about 1.5 miles away that meets this criteria.

Thanks again!
May I make a suggestion?

I'll do it anyway.

I'll shoot you a DM with the name of a real estate agent I trust. He will most likely be willing to help you with your appeal. He might be willing to pull values and advise you, but be aware he won't do it all for you. He might be willing to give you the ammo. You have to have the gun to shoot it.

DM inbound.
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