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Formal Hearing

Discussion in 'Illinois' started by Brian Weaver, Apr 25, 2012.

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  1. Brian Weaver

    Brian Weaver Senior Member

    5
    Apr 16, 2005
    Professional Status:
    Gvmt Agency, FNMA, HUD, VA etc.
    State:
    Illinois
    So...we had a formal hearing today involving unlicensed appraisal practice for tax appeals. The Respondent didn't bother to show up...but about a half dozen assessors did. Our first audience.

    We'll see if the $25,000 fine asked for by our prosecutor sticks with the board.
     
  2. Michigan CG

    Michigan CG Moderator Staff Member Moderator

    294
    Nov 1, 2006
    Professional Status:
    Certified General Appraiser
    State:
    Michigan
    I have found that a lot of people who work in the tax appeal business have no morals or ethics at all. I work for both sides, but the majority of my tax appeal work is for the townships. It is amazing the appraisals I have seen by the other side that are anything but credible.
     
  3. Pat Butler

    Pat Butler Senior Member

    10
    Jan 17, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Illinois
    Interstingly enough I was on the Chicago Tribune website today and an ad for a tax appeal practiced was displayed. I went to their site and noticed that they had a disclaimer that they aren't appraisers, yet what they were providing was indeed an appraisal.

    I thought that they were going to limit their service to just providing raw comp data, but that wasn't the situation from what I read.

    I'm wondering if it was the same company.
     
  4. Stephen J. Vertin MAI

    Stephen J. Vertin MAI Senior Member
    Gold Supporting Member

    7
    Jan 17, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Illinois
    This is of interest to me. I am retiring soon and have been contemplating going over to the dark side:)

    This is why, generally tax cases take years to pay-off (so you need plenty of time on your hands with supportable income). Retirement fits both well. Further when the cases pay-off the monetary rewards are substantially. People who are good at it make considerably more than appraisers.

    So this brings up an interesting question. If, after I retire, give up my designations and certifications am I not allow to opine on value? I am not talking about writing reports I am talking about why I believe assessments are high, low or what ever. What are the general guidelines on this? Further, at what point do restraints on these matters effect freedom of speech issues? Simply curious.
     
  5. Brian Weaver

    Brian Weaver Senior Member

    5
    Apr 16, 2005
    Professional Status:
    Gvmt Agency, FNMA, HUD, VA etc.
    State:
    Illinois
    If you're asking if you can represent taxpayers as an advocate after you're no longer licensed in Illinois...depends upon the taxing body.
     
  6. Stephen J. Vertin MAI

    Stephen J. Vertin MAI Senior Member
    Gold Supporting Member

    7
    Jan 17, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Illinois
    So what would unlicensed appraisal practice for tax appeals consist of? Did this guy actually write a report? Further why do you think so many assessors would be interested in the case?
     
  7. Stephen J. Vertin MAI

    Stephen J. Vertin MAI Senior Member
    Gold Supporting Member

    7
    Jan 17, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Illinois
    Several years back I believe it more prevalent than today. I estimate at least 50 to 75 percent of the commercial properties I am currently dealing with are over assessed. While I do admit many of these properties are on banks "watch list" I think there is substantial monies to be made through honest tax appeals.

    Assessments are what economist call "sticky down". They go up fast but are very slow to decline. Many are not in pace with market events over the last few years. This is not just in Illinois. It is in Michigan and Indiana also.

    No argument on the advocate side but what do you expect? Attorneys and tax consultants are what they are.
     
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