I learned some interesting things in my tax protest on Monday. For the property I discussed, to justify their values, they used a square foot cost to rebuild the structure. However, the figure used included the value assigned for the land. How many total rebuild estimates include the price per sf of the land except taxing entities? They only value property based on outside appearance since they can't force themselves into your home. On the subject house, they valued it as the 4th highest on the street among the 24 houses. Many of those 20 houses are larger, 2-story, have pools and renovated over the years, and are up to $100,000 less in tax value. The three above this house all have been remodeled or renovated within the past 5 years. This house is original from when built. Original bathrooms, kitchen, etc., except for replacing appliances, a/c units, windows and normal maintenance. When I presented them an estimate including photos to renovate all bathrooms, kitchen, breakfast nook at over $125,000, the board became speechless. Interestingly, the house next door has been renovated twice in the past 3 years but was valued $20,000 less and has a pool. The board didn't want to discuss that property even though they used it as one of the properties they took comps from and it's 300 feet different in size. Nonetheless, they reduced the value by $50,000.
I found several of the renovated homes had not applied for their homestead exemption and were paying full taxes.
I found several of the renovated homes had not applied for their homestead exemption and were paying full taxes.
