How Can A Tax Assessor Increase A Home Value 50%+ Without Seeing The Home?
In most states of the United States, house owners receive an appraisal notice from tax assessors and appraisal districts. This notice includes the new value of their home based on the calculations of these authorities. However, it’s shocking to see that some houses get an increase over 50% in just a year. What’s even more shocking is that they get these increases even though they haven’t added anything new – yet alone major constructions. They also haven’t received any visits from any tax assessors. So, how is this possible?
CALCULATING HOME VALUE Normally, these home values are estimates most especially when no tax assessor has come up to your property to collect data. They often use collected data from before and then use various methods to calculate your current home value.
VISITATIONS Several factors go into assessing a home such as the following: Square footage Lot size Location of property Age of house Style of home In a proper appraisal, a tax assessor should personally visit a home and collect information surrounding these factors. They may ask to go inside your home, but you can refuse if you wish. However, this doesn’t give them enough information and may work against you. The bigger your property is, the higher the value. Aesthetically pleasing properties also tends to have a higher home value. However, it is possible for your more straightforward home to be more valuable when it’s located in a nice neighborhood within reach of various services compared to a beautiful home in the middle of nowhere.