If you are like me, you were maybe a little shocked when you received your 2009 Notice of Assessment.
The assessed value of my Milford home has been reduced for the third year in a row and really the only good thing about that is I will be paying less in property taxes this year—actually, A LOT less....
The tentative 2008 assessed value of my home was ~ 2.8% less than the 2007 assessed value. By appealing to the Board of Review last year, I was able to get both the assessed and taxable value lowered an additional ~ 6%.
Because there were more sales of homes similar to mine in 2008 than there were in 2007, I had much better comps to use in my appeal this year. The tentative 2009 assessed value was ~4% less than 2008 but through my appeal, I was able to get an additional reduction in assessed value and taxable value of around 11.5%!!! Those two successful appeals will save me almost $800.00 in property taxes this year.
While I still feel my home is worth about 15% less than the assessor thinks it is, I’m pleased with the results of my appeals. Every little bit helps these days.