How do I Appeal My Ada County Assessed Property Value?
In Ada County in 2008, I personally saw an increase in property assessments (including my own properties) where in reality property values were declining. Without significant adjustments in the assessed property values this year, I would expect there will be many homeowners appealing their county tax assessment. If you would like to appeal your Ada County property tax assessment, included below is a general overview of how properties are assessed and how to properly post your appeal.
For the current tax year, the assessments will go out to all Ada County property owners approximately the first week of June in 2009. The value placed on the property is as if the property was assessed (appraised) on January 1, 2009.
The Ada County assessor (appraiser) is required by state law to place current market value on all taxable property each year*. The value is determined by an appraisal process which includes analyzing construction costs and reviewing recent sale data (typically retrieved through the MLS, but which may also be retrieved through area Realtors® and/or appraisers).
Once you've received your property assessment, if you feel that the assessed value is too high based on valid market data, you may appeal the assessment by the 4th Monday of June at 5:00 pm. The process requires that you file an appeal with the Ada County Board of Equalization (note: this process will not address the mill levy rate of your area, only the assessed value of the property).
Unfortunately, many homeowners are just now noticing that their 2008 assessments were excessive, but they are too late to file an appeal as the deadline to file an appeal was June of 2008.
The form for property tax appeals is linked below.
http://www.adaweb.net/Portals/0/Treasurer/Documents/Appeal_000.pdf
An Ada County Realtor® can help you determine approximate value and should be able to supply you with comparable sale data to support your appeal; supplying comparable sale data or an analysis prepared by a Realtor® is one of the best ways to support your appeal. We have helped many of our clients in the past with comparable sale data to support their property tax appeal and we're happy to be of assistance.
Also, if you'd like to know how the Assessor looks at distressed sales (i.e. foreclosures and/or short sales) in the context of establishing market value, the article below was well written and illustrates the impact of said distressed sales in a real estate market.
http://www.adaweb.net/LinkClick.aspx?fileticket=rsr3Yd9cck4%3d&tabid=57
As an aside and because this question also arises frequently, Ada County Property Taxes are always paid in arrears. Once the property is assessed, the actual tax bill for the first half of 2009 (January - June) won't come out until November with the first half due December 21, 2009. The second half of 2009 (July - December) taxes are due in June 2010.
__________________________________________________________________
* Robert H. McQuade, Assessor, Ada County Assessor, Accessed on March 19, 2009.
< http://www.adaweb.net/Portals/0/Treasurer/Documents/Appeal_000.pdf>
Please feel free to visit my website at www.BoiseBeautiful.com for more information about real estate in Boise, Meridian and Eagle, Idaho or any of our buyer and seller services. Lee Hill and Eva Hoopes are partners in real estate, specializing in helping buyers and sellers from all walks of life. We represent buyers and sellers in Ada County in Idaho with an emphasis on the communities of Boise, Meridian, and Eagle, Idaho. To view properties for sale, including homes, land and investment property in our area, please feel free to visit our website. Our MLS database can be searched using an interactive map along with a multitude of other search criteria and includes over 95% of all listed properties in Ada County, Boise, Meridian, and Eagle.
Comments(0)