Tax Assessor Value

[keniz138]

What is the name of your state? RI

Recently had an assessment from town and value of home came in at 327,000.

We paid 322,500 for it 2 years ago.

We refinanced this year and value was $335,000.

Would it be worth it to fight for a lower assessed value and what types of thing could I use as evidence to support this?

Thanks.

--ken

 

[pojo2]

Recently had an assessment from town and value of home came in at 327,000.

We paid 322,500 for it 2 years ago.

We refinanced this year and value was $335,000.

Would it be worth it to fight for a lower assessed value and what types of thing could I use as evidence to support this?

Pardon me but what the heck are you talking about? Seems your assessment is pretty right on if not low based on your refi.

 

[keniz138]

That's why I am asking....I have been told by a few sources that the assessor value should be substantialy lower that what a bank would value the home at....is this not the case?

 

[LindaP777]

That's why I am asking....I have been told by a few sources that the assessor value should be substantialy lower that what a bank would value the home at....is this not the case?

In my area, county appraisals are often conservative. But an "on the dot" county appraisal can be argued against. Leave it alone, the county accuarately appraised your house.

 

[pojo2]

that the assessor value should be substantialy lower that what a bank would value the home at....is this not the case?

Ummm no it is not the case at all. Ask your self since this is a source of revenue for the counties do you think they are going to undercut their share? Most assessments are higher and thus why people fight them all the time. In your case as Linda already stated you have a pretty accurate assessment.

However based on these "sources" go ahead and dispute it.

Their theory does not hold water and why you often hear the phrase "I wish I could sell it for what they say it is worth" right after the tax bills go out.

 

[keniz138]

Thank you Pojo and Linda for your advice...at least I will not have to go to Town Hall on a Saturday now



Pojo (this is off topic, sorry),
Will say that being a sarcastic person myself, I am readily able to pick up on where you are coming from with the tone of your replies...and in accodance not take offense. However, keep in mind that the Internet is a big place and conversing through text all too easily allows for misinterpretation. When coming across a fish out of water, it does the fish nor oneself any good to mock the fish for not being able to breathe properly...despite the level of subversiveness the mocking takes. Just returning the fish to the water is enough.

Thanks again for returning me to the water, or expanding my little pond as the case may be.

--ken

 

[pojo2]

Pojo (this is off topic, sorry),
Will say that being a sarcastic person myself,

Huh?!?

I stated pure fact nothing sarcastic in that.

So deep fry the fish for dinner.

 

[junoplanner]

not the case at all

That's why I am asking....I have been told by a few sources that the assessor value should be substantialy lower that what a bank would value the home at....is this not the case?

Alaska statutes require the local Assessor to set property assessments at market value--obviously a hard task to accomplish, but also clearly not what your sources are indicating. Check your state statutes (or ask the Assessor) to see if a similar requirement applies in your state.

 

[PghREA]

If you lived in my county you would be reassessed at 335K. Count your blessings!

 

[keniz138]

Pojo (this is off topic, sorry),
Will say that being a sarcastic person myself,

Huh?!?

I stated pure fact nothing sarcastic in that.

So deep fry the fish for dinner.

"Pardon me but what the heck are you talking about?"
"Ummm no it is not the case at all."
"However based on these "sources" go ahead and dispute it."

Ok, I'll take your word for it. Although a fun exercise might be to print out this thread for a co-worker or close friend and see if they get a little chuckle out of it. The last quote is particularly interesting in that you are either being extremely sarcastic or you are stating a "pure fact" that I SHOULD in fact go and dispute it...hmmm.

So again, thanks for the advice, and consider this fish deep fried. But be aware, that deep fryer smell stays on your clothes even after you're done cooking and eating.