Valuation from Tax History

[Terrel L. Shields]

We did have an independent appraisal as required by our SBA loan.

So, you are arguing this is a more accurate representation of value than the tax district's estimate?

 

[Artemis Fowl]

Jeez...he tried to fix it but the law did not allow it to be done that way. Unfortunately I am familiar with that problem. If you are inclined, keep us updated please.

 

[KrisB]

So, you are arguing this is a more accurate representation of value than the tax district's estimate?

No. I'm trying to learn whether an independent appraiser would utilize the market valuation from the CAD in any way. Would the appraiser have used the market valuation from the CAD to support the large purchase price?

If the tax valuation had been correct, at 570k would the appraiser have been more or less likely to appraiser at a sale price of 1.5m?

If it is an argument that we overpaid, and their tax assessment influenced the sale price and subsequent appraisal, I'd like to go after it. If it doesn't, I'm going to leave that arguement alone. Just here trying to fact find and educate myself on how these two things may or may not be related.

 

[KrisB]

Jeez...he tried to fix it but the law did not allow it to be done that way. Unfortunately I am familiar with that problem. If you are inclined, keep us updated please.

Exactly! The red tape and flaming hoops we have to go through to get it amended is wild. And will only end up costing the tax payers in our county in legal fees, etc. The chief appraiser was ready to ammend, and get refunds approved but NOPE. Can't do it without going to through all these other channels. It has been the wildest ride I'll tell ya! And the kicker is one of the comp properties is owned by one of the board of directors for the appraisal district so it looks REALLY bad when this all cracks open. His value didn't change in the 5 years mine did and his arena is 10 years newer, with a significantly lower value. Crazy.

 

[Artemis Fowl]

No. I'm trying to learn whether an independent appraiser would utilize the market valuation from the CAD in any way. Would the appraiser have used the market valuation from the CAD to support the large purchase price?

If the tax valuation had been correct, at 570k would the appraiser have been more or less likely to appraiser at a sale price of 1.5m?

If it is an argument that we overpaid, and their tax assessment influenced the sale price and subsequent appraisal, I'd like to go after it. If it doesn't, I'm going to leave that arguement alone. Just here trying to fact find and educate myself on how these two things may or may not be related.

They shouldn't be...but **** happens. Really hope you get resolution.

 

[sputnam]

The tax history of a property is public record. If, an appraiser is relying on the tax valuations, why does anyone need an appraisal? They can just look it up for themselves.

 

[KrisB]

I'm not asking if they rely on them, I'm asking if they have any weight in an appraisal.

If a property was selling for 1.5m but the tax records show a 570k valuation, would it raise your eyebrow?

The taxable value is IN MY COMMERCIAL APPRAISAL. There's a whole page about them. So I know they have some sort of influence to justify a value.

Why the smarta$$ response when I'm here to learn?

 

[Tom D]

No weight in any appraisal, maybe some sympathy for your tax bill. That is the answer that you don't want to hear. Please stop repeating your desire for the answer you want to hear.
Tax information in your appraisal is a statement of taxing fact, not the reliability, or fairness, of it. That's my smart as* answer to your repetition, cause you ain't learning.