I met with the Assessor, Bill Staples, yesterday during my lunch. Chairman Elias’ office arranged the meeting for me.
The current valuations are based upon the sale of houses in our area prior to January 1, 2009. We reviewed the “Residential Property Equity Analysis” for our neighborhood. This report showed the house sales in our area since 2003.
The valuation process included an adjustment for homes sold prior to June 2008. There are no adjustments to sales 6 months prior to January 1., 2009. This adjustment is based upon the trend or sales in our area. You can see a graph of the trends on the “Sale/Resale Market” link on the Assessor’s webpage. The specific percentage of adjustment is not shown. However, in our area there was a slight decline in the sale values.
In looking at our area sales, Mr. Staples pointed out that the sale prices have stayed fairly consistent in price ranges. The good news is that we are a highly desirable area. The bad news is that our valuations went up. Mr. Staples stated that area residents could try to locate a parcel, similar to theirs, in our area with a lower valuation. With this information an appeal could be submitted. The deadline is April 2, 2009.
Chairman Elias’ office has provided me with several appeal forms and instructions for those interested. The appeal is a paper process only. The Assessor’s office does not come out and inspect (unless you request it). Mr. Staples also gave me some sample verbiage to use on the appeal form. I will be glad to share this with anyone. Mr. Staples also stated that your appeal can be based on a parcel that has not recently been sold. The parcel should contain similar features (eg, SQ footage, heating, AC, etc.). However, more weight is given to recently sold properties.
When researching comparable parcels for appeal, please be aware some may be ineligible for use because of extenuating circumstances. The most common in our areas is the Senior Valuation Freeze Program and/or the Widows/Widowers Reduction Program. If you feel that you may qualify for either of these programs, please call 243-7500.
In summary, based upon the sales data available our valuations rightfully were increased.
Tori