ValueAppeal Web Based Assessment Appeals - Great Idea, But Does It Work?
The other day I received a very interesting piece of mail about a new service called ValueAppeal which has piqued my interest. The idea is a third party company that collates all the public sales and assessment data for an area and tries to find homes that are being overassessed, and hence pay too much on property tax. The assessment number they gave for our own home seemed a bit low, but I had always wondered why our assessment kept going up even when home prices were supposed to be going down. I went to their website to see how many of the homes on our street were flagged as being overassessed and I put in 14 of the homes. It decided that 8 of the 14 were overassessed and 6 were not. In their literature they say they only target 20 to 25% of properties, but on our street it looks like more than 50%. There is a large variety of home sizes on our street, however, with a lot of older, custom homes that have been modified over the years so no two are alike and some are much larger...