Real estate blog entries tagged with error by Robert Kumpfer (Commercial Property Tax Advisors)

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Home : Blogs : Robert Kumpfer : Kumpfer's Blog : Tag "error"

error: Yes! You can appeal your property tax assessment! - 12/16/06 01:33 PM

So you've received a notice of assessment on your house and the notice states that if you feel that you could sell your house for the assessed amount or more the value is fair. We have gone to a "fair market system" now right?
Wrong!
Well, not necessarily...fair market value involves multiple approaches to value: replacment cost, sales comparison and income approach. Obviously the income approach doesn't apply to residential properties, but the replacement cost and sales comparison methods do.
The local assessor under state guidelines is using replacement cost with market multipliers and depreciation to determine your fair market value. What can you … (7 comments)

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Robert Kumpfer

Merrillville, IN

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Commercial Property Tax Advisors

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