All realtors are well aware when the notices of appraised value are received by taxpayers in the April timeframe. The phones ring off the wall with request for comps and assistance in preparing a protest, not to mention the time it takes to talk with clients about appraisals and taxes. We may be able to help offload some of those tasks, saving you time, and assisting your clients in understanding the potential for a lowering their appraised value. Since we are preparing a large number of protests for a broad variety of clients, it is often more efficient for us to add them to our process.
When one of your clients purchases a property for less than its appraised value, an appeal must be filed to have the appraised value lowered to match the purchase price. Although the Appraisal District will typically approve this request for the first year, the value the following year will often rise significantly because the property is again valued by the mass appraisal technique. If there is some factor that causes the purchase price to be low, such as foundation problems, run-down condition, environmental factors, etc., our knowledge of the appraisal district’s classification system and mass appraisal process often enables us to convince the appraisal district to maintain lower values until the problems no longer exist.
Occasionally one of your client may for various reasons pay a premium over the market value for their home. If the purchase price is significantly higher than the market value and appears to be an anomaly or outlier from other sales, we may be successful in presenting a case for an appraisal closer to the market value based on the client’s reasons for the higher purchase price. Representing your clients in these type appeals is a service that we provide and you can recommend to your clients.
We are available for presentations and discussions regarding the appraisal process, the appeal and protest process, how taxes are calculated and accessed, steps taxpayers can take to ensure their appraised values are fair and equitable, and other topics of interest to realtor and homeowner groups. If your realty office or homeowner group would like us to participate in group discussions or meetings, please give us a call.