I purchased the house for $10k more than its assessed value last year. This year I just got a letter stating they are bumping it up $10k to match the price it sold at.
how do / should I fight this?
if I can find comparable homes that just sold for less will this work for proof or am I really doomed because they will just use the price that I paid last year?
it’s henrietta (rochester) if anybody has experience
I wouldnt bother trying to fight it unless they appraised it above your buying price. My house was reappraised to selling price when I bought it also. Two years later they bumped it up again which I fought with supporting documents of recent area sales with properties of similar size & condition.
Since you just paid that amount I really don’t think you’re going to stand a chance without a real appraisal saying it was worth less. I just re-fi’d and the bank sent an FHA certified appraiser to value my house for the mortgage. Talking to the notary/realtor they sent to do the signing last night I was telling her I was going to use their appraisal to challenge my assessment. She said I’m pretty much guaranteed to win since the appraisal was from an FHA appraiser because they are “the authority” when it comes to values.
The appraisal fee was around $300, so if you honestly think your house is worth a lot less than the assessment that might be worth doing. Otherwise I doubt they’re going to care about home sale prices around you over such a relatively small difference.
somewhat, they did lower my value but not to what I wanted. The only reason I went in for a hearing is because they increased my assessed value by over 30% in one year. I think they did it just because I have one of the lowest assessed values on my street.
Wouldn’t it be a good thing that your house’s appraisal went up a bit? I would think that would show there are rising home values in your neighborhood.