Increase Your Chances of Successful Property Tax Appeals, Says Appraisal Institute

CHICAGO (Feb. 8, 2022) – Highly qualified appraisers are able to assist homeowners with appeals of property taxes, which can be among a homeowner’s largest annual expenses. Working with an Appraisal Institute Designated Member can benefit homeowners who choose to appeal their property tax assessments, the nation’s largest professional association of real estate appraisers said today.

As U.S. homeowners begin receiving their local property tax bills, the Appraisal Institute offered suggestions to make the appeal process easier. “Homeowners need to keep in mind the importance of hiring a highly qualified appraiser who conforms to industry standards and a strict code of ethics, such as one governing the actions of Appraisal Institute Designated Members,” said Appraisal Institute President Jody Bishop, MAI, SRA, AI-GRS.

“In a perfect world, the assessed value of a particular property would match market value if that is the regulatory intent of the particular jurisdiction’s property assessment law," Bishop added.

There can be different stages of tax appeals based on municipality, and Bishop suggested homeowners check with a local appraiser who can provide the experience and assistance needed to navigate this process. He added that a qualified local appraiser can also shed light on the local appeals process and should know that when errors are made in how local governments calculate a homeowner’s property tax bill, they can appeal the assessment.

Homeowners considering a property tax appeal should be prepared with all the necessary information, Bishop said. Qualified appraisers can then guide homeowners who choose to appeal their property tax assessments. Appraisers often collaborate with property tax consultants and attorneys who specialize in tax appeal matters, which could provide the best opportunity for a property owner to increase their chances of a successful tax appeal.

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