I received my estimated property taxes for a home I got in April 2006 where the value was about 18k over how much I purchased the home for.  I certainly was disappointed because last year the value was only 60k since it was a new home.

I decided to try to protest the value on my own without using any service since I figured the best outcome would only mean a savings of 400-600 bucks and if I used someone, I’d pay about half my savings away.

All I did was write a very short letter and explained that I purchased my home for 18k less than their appraisal and included the closing statement. Within a week, I got a notice back that they are adjusting the value to the original purchase price of the home! The end result is savings of about 480 bucks this year based on a 2.7% tax rate in about half a hours of work.

The moral of the story, if you built a new home and the appraisal was way over the purchase price, just write a short letter and send them your closing statement. Contesting the value of an older home may be tougher because then you need to send in comps and probably would have to show up in person.

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