Re-evaluations And The Assignment I Have- Mecklenburg County, Nc

[Carnivore]

Well people are going berserk in Mecklenburg County due to Re-eval notices. Yep, the economy in Charlotte has taken off full steam. Perfect Timing for the Tax Man. Everyone.s Tax Values have gone up a whole lot.

So home owner calls me and wants and appraisal or help in fighting his over-evaluation.

I thought OK, he needs an Current appraisal. Well there are three things a home owner can do,
1. Suck it Up and pay more
2. Fight it
2a Get an appraisal
2b Get someone to go over the re-eval and look for inequitable taxation.

My Guys tax records have some glaring inequities.

Background: Since a bought the house a few years back 2015 as a REO he got an OK price. House was not tore up, or anything like that. It has a walk up Attic and a walk out basement.

So he decides to finish attic and finish basement. He dutifully got his County permits. Well thats where it all begins to go wrong. He started the basement finishing, and the attic also. Problem is he did not actually finish them. He does not have finals on permits for any of it.

The Attic is Floored and he put in some insulation ,,,little bit of 2x4 parititions and some wiring but thats it see photo its not heated or cooled - just a nice attic

The county shows this attic as a thrid floor finished space(GLA) - and they jack his value

Basement has a lot more done but a long way to go before its a finished livable space.

He has a site issue also, apparently they are using part of his lot for a easement(paved) to get to a Sewer Pumping station that you can see from his very short back yard. Wonderful view and there is noise when it pumps. Cool, hope it doesn't spring a leak.

There is another factor. They re-evaled him up from $424,700 to $723,000. His house was built in 2006. I have two sale of new Construction very similar(GLA., design etc)r to his house with unfinished basements from a comparable neighborhood. They sold mid 2018 for $539,900 and $540,000.

So do i complete an appraisal or just do a Valuation service(not acting as an appraiser). and point out all the errors using the photos and associated commentary. He is willing to pay substantially for me to write it up with exhibits or appraisal either way. For that matter if we go with inequitable tax route, he wants to present his case himself in his words. I would just be giving him a list of issues in an organized manner.

His annual taxes are going up from $4,200 apprx. to apprx $10,300

What do you think!

 

[Deleted member 152047]

*I do not perform tax appeal stuff

However, I think that you should consult on this assignment. If an appraisal is required down the road, you can assist him in selecting an appraiser and make sure that nothing is missed within the appraisal that is procured.

Make sure to write up a short contract up front that describes the SOW and states that you are not acting as an appraiser. You also may want to discuss tiered fees based on a multi-stage engagement.

 

[J Grant]

I dunno but its funny how homeowners want it both ways...he starts projects that is going to expand his living area and value ( the attic has a window and looks partly intended for living space ? The basement is close to finished, then they get upset when their taxes go up...if he did not want taxes to go p then why add improvements that would increase value
doh
The view a utility area is at the of road not right outside the windows front or rear.view

If you think he is over assessed, perhaps do an appraisal and point out the issues of his semi finished projects or how the attic is just storage space with a window (if you believe that) .

I would not promise this homeowner your efforts will reduce the assessments or lower his taxes, truth is he may have been underpaying for a long time due to his initial low purchase price. What amount of taxes are homes of similar size and site to is paying in taxes Why should he be the exception , aka is he truly being over assessed or assessed correctly for the area after years of being too low

lol did he complain when his taxes were too low...

 

[Deleted member 152047]

lol did he complain when his taxes were too low...

Are taxes ever too low?

 

[J Grant]

Are taxes ever too low?

lol...just pointing out if he was under assessed all these years he did not complain...or ask for an appraisal so he could pay his fair share...

is he being "over assessed "now, or has his permits for improvements and new evaluation just brought him up to what everyone else is paying? Guy buys a big house in expensive neighborhood as an REO then squawks when he has to pay taxes on it..is being over assessed or correctly assessed...I would charge fairly but not over charge because if he does not get the tax relief he feels he deserves guess next who he will blame...the appraiser that "failed " him.

 

[Carnivore]

lol...just pointing out if he was under assessed all these years he did not complain...or ask for an appraisal so he could pay his fair share...

is he being "over assessed "now, or has his permits for improvements and new evaluation just brought him up to what everyone else is paying?

He is over-evalued...to some degree. I am guessing right now about $100K , The common MV/Tax Eval currently for most other houses in his Hood is around $500K

 

[J Grant]

He is over-evalued...to some degree. I am guessing right now about $100K , The common MV/Tax Eval currently for most other houses in his Hood is around $500K

it it about most other houses or the houses most like his sf and site size are paying? Looks like a big house..do whatever you feel comfortable with and fits the assignment just dont over promise...(imo)

 

[Bob Ipock]

Well people are going berserk in Mecklenburg County due to Re-eval notices. Yep, the economy in Charlotte has taken off full steam. Perfect Timing for the Tax Man. Everyone.s Tax Values have gone up a whole lot.

So home owner calls me and wants and appraisal or help in fighting his over-evaluation.

I thought OK, he needs an Current appraisal. Well there are three things a home owner can do,
1. Suck it Up and pay more
2. Fight it
2a Get an appraisal
2b Get someone to go over the re-eval and look for inequitable taxation.

My Guys tax records have some glaring inequities.

Background: Since a bought the house a few years back 2015 as a REO he got an OK price. House was not tore up, or anything like that. It has a walk up Attic and a walk out basement.

So he decides to finish attic and finish basement. He dutifully got his County permits. Well thats where it all begins to go wrong. He started the basement finishing, and the attic also. Problem is he did not actually finish them. He does not have finals on permits for any of it.

The Attic is Floored and he put in some insulation ,,,little bit of 2x4 parititions and some wiring but thats it see photo its not heated or cooled - just a nice attic

The county shows this attic as a thrid floor finished space(GLA) - and they jack his value

Basement has a lot more done but a long way to go before its a finished livable space.

He has a site issue also, apparently they are using part of his lot for a easement(paved) to get to a Sewer Pumping station that you can see from his very short back yard. Wonderful view and there is noise when it pumps. Cool, hope it doesn't spring a leak.

There is another factor. They re-evaled him up from $424,700 to $723,000. His house was built in 2006. I have two sale of new Construction very similar(GLA., design etc)r to his house with unfinished basements from a comparable neighborhood. They sold mid 2018 for $539,900 and $540,000.

So do i complete an appraisal or just do a Valuation service(not acting as an appraiser). and point out all the errors using the photos and associated commentary. He is willing to pay substantially for me to write it up with exhibits or appraisal either way. For that matter if we go with inequitable tax route, he wants to present his case himself in his words. I would just be giving him a list of issues in an organized manner.

His annual taxes are going up from $4,200 apprx. to apprx $10,300

What do you think!

Remember, you can not be an advocate. If you appear before the board you will do it as a consultant and not as an appraiser. What he should do is appeal and have them come out to measure, see finished items and note the easement. That may well take care of his issues. If not he can call you back but do not become his advocate.

 

[Carnivore]

Remember, you can not be an advocate. If you appear before the board you will do it as a consultant and not as an appraiser. What he should do is appeal and have them come out to measure, see finished items and note the easement. That may well take care of his issues. If not he can call you back but do not become his advocate.

Right Bob, i got you on the Advocate part...I told him when we talked on phone that I was not acting as an appraiser because of the purpose(tax appeal) and i knew that often property data can be wrong. When I got there it was exactly what I thought would be the problem. Had he completed all the work, then an appraisal would have been the best service.

I like that idea of him asking them(meck cnty) to do an actual inspect of his house.

 

[JTip]

We went through a county reassessment in 2016 (prior one was in 1958).

I did two assignments, went a 'formal' hearing twice (had to take annual leave from my FT job to attend). Both were dropped over 30% each.

Do a GP appraisal with SOLID documentation along with a presentation about the errors on the updated tax card (GLA variance, wrong room count, etc). MLS sheets of the sold comparable properties with notes from the agent buyer/seller interview for talking points. Facts and truths, nothing more, nothing less.

Remember the people doing the reassessment field work make minimum wage. Quick and dirty, crank out neighborhoods in a day. All built into the winning company bid for the total reassessment. It's a business and profit is king, so the field data is easily fought with some legwork.

I will NEVER do that again. lol