Property Tax Appeals/Protests

Each year many homes are reviewed by your county assessor and their values may change. Many of these homes can be over-assessed. An increase in value usually results in higher property taxes.

Most counties offer an opportunity to appeal or protest the new assessment. The best way to do this is by presenting an appraisal by a state certified appraiser. The County’s referee needs a credible reason to allow a reduction in the assessment. An appraisal from a professional Realcorp appraiser can provide that support. A professional Realcorp appraiser is uniquely qualified to help establish your home’s true market value and determine if you are paying too much in property taxes. This appraisal, if its opinion of value is less than the Assessors, can increase your chances of getting a value reduction.

The 2024 Douglas County real property valuation protest process begins June 1, 2024. The frequently asked questions for a property valuation process are outlined here:

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What is an appraisal?

A home purchase is the largest, single investment most people will ever make. Whether it’s a primary residence, a second vacation home or an investment, the purchase of real property is a complex financial transaction that requires multiple parties to pull it all off.

Most of the people involved are very familiar. The Realtor is the most common face of the transaction. The mortgage company provides the financial capital necessary to fund the transaction. The title company ensures that all aspects of the transaction are completed and that a clear title passes from the seller to the buyer.

So who makes sure the value of the property is in line with the amount being paid? There are too many people exposed in the real estate process to let such a transaction proceed without ensuring that the value of the property is commensurate with the amount being paid.

This is where the appraisal comes in. An appraisal is an unbiased estimate of what a buyer might expect to pay – or a seller receives – for a parcel of real estate, where both buyer and seller are informed parties. To be an informed party, most people turn to a licensed, certified, professional appraiser to provide them with the most accurate estimate of the true value of their property.

Although not required on every appraisal, the appraiser is usually asked to inspect the property.  They will observe such things as bedroom and bathroom locations and note the quality and condition of the property.  The inspection often includes a sketch of the property.

Once the property has been inspected, an appraiser uses up to three approaches to estimate the value of real property.