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Appraisal For Cad Protest

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Ty Lam

Freshman Member
Joined
Feb 4, 2003
Professional Status
Certified Residential Appraiser
State
Texas
This time of the year I seem to get a lot of calls for appraisals to dispute property tax. I've been turning it down in years past mainly because I was too busy with my regular clients.
I'm curious, if anybody does this kind of appraisal? If so, what form does one use, what is the liability, and/or any other suggestion/input about this topic when doing this type of appraisal?
 

Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
I've done a few over the past 8-9 years.

What I do on them is, if it is an improved property, is a 1004 with lots of comments and documentation. Basically, what I want to give them is as much ammunition as I can to go before the tax board. I know that documentation does not always add anything to the report but if the tax board receives a report that as full documentation, copies of MLS listing sheets, topo maps, etc, it just might help my client win his/her argument and that is what I've been hired to do.

Remember that you are not bound by the secondary market rules so you can use your creative skills just as long as you explain everything.

This type of report requires a fair amount of work so we do charge more for them and require longer time to prepare them. If they have the tax tribunal in 2 weeks and need an appraisal, it may just be a straight forward 1004.

As to liability, it is no greater than appraising a $500,000 house for a $400,000 loan. You do the report and find the value, based on the evidence of the marketplace, that you are comfortable with. Then you carefully craft those findings into a report that is logical and readable. Same process.....no more liability that I can see.

5/13/03 - I meant to include the following: Of course, doing the appraisal does not automatically mean that you will testify or argue the position before the tax tribunal nor will you be providing additional consulting. Make that clear up front.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Be careful in what you are doing. If you are simply preparing an appraisal for a client and the client is going to take it into the tax office, then that's fine. If you are being asked to represent the client before the tax board, depending on your state you may be required to be licensed to do that. In Texas, you have to have a separate license to represent taxpayers.

Roger
 
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