Have You Ever Asked for a Review of, or Appealed, Property Market Valuation? (mortgage)

[selhars]

-- Have You Ever Asked for a Review or Appeal of Property Market Valuation?
-- If so, what was your argument, and did you win?

-- Do you automatically appeal them every time, just because you wanted to keep your taxes down?

There is the option of requesting a "First Level Review" -- or you can go straight to a "formal appeal."

Over the decades, I never have appealed or questioned any evaluation.
I know valuations for tax purposes and "market value" are two different things. But given that comparable houses in the neighborhood have sold for more than the evaluation I can't imagine what my argument would be for questioning the valuation.

Thanks

[PHL10]

Originally Posted by selhars

-- Have You Ever Asked for a Review or Appeal of Property Market Valuation?
-- If so, what was your argument, and did you win?

-- Do you automatically appeal them every time, just because you wanted to keep your taxes down?

There is the option of requesting a "First Level Review" -- or you can go straight to a "formal appeal."

Over the decades, I never have appealed or questioned any evaluation.
I know valuations for tax purposes and "market value" are two different things. But given that comparable houses in the neighborhood have sold for more than the evaluation I can't imagine what my argument would be for questioning the valuation.

Thanks

I'm two for two in First Level Reviews. for the first one, I had a recent appraisal supporting a lower value. For the second, I provided pictures and facts that distinguished my home from much more expensive neighboring homes. That resulted in a visit from OPA to the home but that review went successful as well.

[selhars]

I had a recent appraisal supporting a lower value.

Did you pay for that appraisal to have it just for the review?

Maybe over time that might be worth it. But to pay $350 or more for an appraisal, when the valuation won't cost me that for a few years, hardly seems worth it.

I'm just asking. As I said, I've never done it before.

[PHL10]

Originally Posted by selhars

Did you pay for that appraisal to have it just for the review?

Maybe over time that might be worth it. But to pay $350 or more for an appraisal, when the valuation won't cost me that for a few years, hardly seems worth it.

I'm just asking. As I said, I've never done it before.

I needed an appraisal (which I paid for) for a different purpose coincidentally just a few months before the AVI valuations were rolled out.

[selhars]

Would you have appealed -- technically it was categorized as an appeal -- just a "review"....but whatever they call it, would you have filed for the review, if you hadn't already had the appraisal in hand?

[PHLondoner]

I have and have had a slight reduction both times.

Similar to PHL10, I had had a recent appraisal done from a mortgage re-fi which was less than the appraised value. I simply submitted the appraisal as a supporting document and received the reductions.