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Updated over 7 years ago,
Property Appraisal Protest - Local Taxes - Advice
My wife and I just built a new home in a master planned community and closed in September of last year. All homes are built with the same grade lots with variations in size, and all homes are made with the same or comparable materials by the same builder. There are internal and external upgrade options, but local taxing appraisers don't see any of that before appraising.
Property valuations went out today, and my home appraised for 328,130. I purchased the home for 327,000, so I can't exactly protest on the previous appraisal. What I am trying to do it protest based on value per square foot, along with other gripes.
The lowest 5% (via cost per sq/ft) of lots in my community appraise for around $2.25 per square foot, and the homes themselves appraise for around $80 per square foot. My home appraised for $8.04 per square foot on the lot, and $94.00 for the improved home. This valuation disparity results in a $2,000 increase in yearly property taxes.
All homes on the exact sized lot as mine have an identical lot valuation. Homes similar in size (on varying sized lots) run similarly in valuation per square foot as well. However, there are 13,000 square foot lots appraised at 17k, and mine is valued at nearly 50k at 6,011 square feet. There are 4,000 square foot homes appraised at 231k, which my 3,000 square foot home appraised at 280,000. As you can see, the disparity in those values is HUGE. BUT, all super close comps are valued nearly the same.
Has anyone ever successfully protested based on these merits? For all purposes, I feel a home of 6k square feet on a 12k square foot lot should appraise for at least double a 3k home on a 6k square foot lot, but will an appraiser see my point?
Last notes, can these items be used as well? - 1. The lots next to my home are empty and unimproved (think mounds of dirt and weeds, cactus too) and has become the official dumping ground of the builder for everything from excess plywood to mattresses and extra concrete and rebar. 2. We have a roof defect (missing flashing) that caused a leak into our bedroom and living room, which ruined the carpet and drywall. This is being fixed. 3. Utility easement - utility workers have dug up our front yard 3 times in the last 8 months, and they have ruined our landscaping.