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Home Owners FAQ |
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We are Here for You! |
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The following are a list of Commonly Asked Questions.
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I’ve just refinanced my home and the appraisal used by the bank indicates a lower value than my assessed value.
Can I use this as evidence to lower my assessment?
It depends on the reason(s) why there is a difference of value. If the refinancing appraisal is lower because the property information used by your assessor is inaccurate then yes. You should ask your assessor to visit your property, perform an on-site inspection to verify the inaccuracies, and determine a new value based upon the newly attained description. If your refinancing appraisal is lower because it represents sales evidence from the past 90 days and if your assessment was determined a number of years ago from the last revaluaiotn, then probably not. Making changes to assessed values because of economic conditions are done in the context of a municipal-wide revaluation so thatall property values are adjusted to current market levels and every property owner is treated in a similar manner. This creates and ensures property tax equity and uniformity throughout your entire municipality.
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