Assessor says recent appraisal has no bearing

[seekingknowledge]

I have tried to search forums, sorry if repeated question. I understand that the forumula is different for assessors..but an appraisal 3 months ago shows value on home is 200k less than assessment. my client can go in front of the board in March, but assessor says that the appraisal has no bearing whatsoever. I believe they update valuations at the county level every two years..but citizens have the option to attend one meeting per year to dispute. assessor has repeated that an appraisal has no value to them. No idea how to help them, the property will never sell at the price assessed or taxed at.

 

[TRESinc]

so what exactly are you asking? i think your first question should be asked of the assessor - why does the appraisal have no bearing?

 

[Pittsburgh Pete]

Why is an appraisal of no use? What is the basis for property assessments? Are they not tied to market value or a percentage or multiple of market value? Do they pull numbers out of a hat? So many questions.

 

[Pittsburgh Pete]

http://www.revenue.state.mn.us/propertytax/factsheets/factsheet_01.pdf

Given that assessments are based on market value, can't quite understand why an appraisal is of no use.

 

[seekingknowledge]

the assessor says value is based on mil rate calculations not market values. the client has had the conversations with assessor, I have not..but have had the same discussion in previous years with same county. one local county accepts our CMA even, to dispute value..but not this particular county. I do not understand how they cannot use a current appraisal as part of the calculations. there are very few comparables in this area to use..appraiser did a great job

 

[Pittsburgh Pete]

the assessor says value is based on mil rate calculations not market values. the client has had the conversations with assessor, I have not..but have had the same discussion in previous years with same county. one local county accepts our CMA even, to dispute value..but not this particular county. I do not understand how they cannot use a current appraisal as part of the calculations. there are very few comparables in this area to use..appraiser did a great job

What's up with that?

You might try to move this to the Minnesota forum--you might get more local knowledge there. From my perch here hundreds of miles away, the assessor sounds like he doesn't know what he's talking about. Perhaps he's dyslexic. Typically millage rate calculations are based on the assessed values. The governing body looks at the totality of assessments to determine the millage rates necessary to bring in sufficient revenue. He seems to be working backwards.

 

[seekingknowledge]

Sweet, thank you for the link. I also sent them the international association of assessment professionals link for standards

 

[Mr Rex]

Most assessors do not allow disputes except in a certain window of time after re-assessment. Here, they are only required to re-assess every 8 years, so as much as values change over 8 years, the dispute period is over for 7+ years, until the next revaluation.

 

[seekingknowledge]

ok..moving over to Mn., cold as that may seem! thanks!

 

[Pittsburgh Pete]

Most assessors do not allow disputes except in a certain window of time after re-assessment. Here, they are only required to re-assess every 8 years, so as much as values change over 8 years, the dispute period is over for 7+ years, until the next revaluation.

Obviously different in different places. Locally a property owner can challenge his assessment yearly, re-assessment or no re-assessment.