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Property Tax Abatement!

Discussion in 'FHA/HUD and VA' started by Midwest Guy, Oct 16, 2007.

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  1. Midwest Guy

    Midwest Guy Senior Member

    0
    Dec 12, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Missouri
    I am performing an appraisal in an urban area, FHA refinance. The property is tax abated for ten years. House is now eight years old. My comparables, in this urban area, are all also tax abated. (NO real property taxes for first ten years.)

    My question is Since my comparables are tax abated, is there certainly an adjustment for outside influences to sales price? Since the city Tax abatement program is newer there are not 11 - 20 year old sales in the neighborhood for compare the home to, how can I measure the influence?

    I cannot find specific references in the 4150.2 to this situation. Any ideas?
     
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