Property Tax Appraising

4 Replies

I am investor from Cleveland OH looking for a local appraiser to help me lower my property taxes on a commercial property I bought on a short sale. There is an $130K difference between what I paid and what the county has it appraised at. From what I understand, the appraiser will need to argue the assessment when I go before the county auditors. Thanks

@Chris Hanson

I've done these before. You can file a petition challenging your property's assessed value with the Cuyahoga County Board of Revisions. For Cuyahoga County properties, the window to file this petition is open for the first three months of the year for the tax assessed value and tax bill for the previous year. So you can file any time between now and the end of March to challenge 2015's taxes.

You bear the burden of proof to establish that your value is too high. The three most common ways to establish a different valuation are 1) a recent arm's length transaction, 2) report and testimony from an appraiser, and 3) owner's testimony as to the value. In my experience, option 3 is the least persuasive and in some cases can be disregarded.

Contact me if you'd like to discuss in more detail.

Originally posted by @Chris Hanson :

I am investor from Cleveland OH looking for a local appraiser to help me lower my property taxes on a commercial property I bought on a short sale. There is an $130K difference between what I paid and what the county has it appraised at. From what I understand, the appraiser will need to argue the assessment when I go before the county auditors. Thanks

 Chris-

Great question, you will need to file a tax complaint with the county, if you are summoned to a hearing you may represent yourself and prepare a series of arguments based on the surrounding area if those hold water, you need to define a reason/argument why you feel this way. Along with your HUD, local surrounding area recent sales and any improvements you have or have not completed. If all else fails you may want use an attorney who can do this for you, the cost is a few hundred dollars and no guarantees.