Contour Enthusiasts Group Archives Forums General Common Interests Property tax question

I purchased 4 acres of property for $12,000. It is riverfront property but it is extremely steep like mountainside. They appraised the property value at $20,500 for tax purposes. I went and talked to the property assessor and he said he doubted that the value could be changed but he would call me if they decide to. This is the first property that I have owned and I feel like $20,500 is too high for appraisal because I paid $12,000. The property is steep with no electric or water and would need a lot of work to make it livable. Is there a way to have them change the value? I wouldnâ??t have paid $12,000 but the people who own the property were going to start logging and I enjoy the peace and quite.

What I mean to say is that I think the property is assessed to high because of potential instead of what it is worth as it is. Is there any way to have them change the assessed value for property tax purposes? The assessor was comparing my property to developed property with homes, electric, and water. The property has enormous potential but will require a lot of money, work, and time.

Check your PM's.

ZZZ.

One thing you could do is have a certified appraiser establish a realistic value for the property, and present that appraisal to the tax appraiser.

The second thing you can do is wait until your property taxes arrive, then protest them. Protesting taxes is a process where you present evidence to the county appraiser/county treasurer that you feel the property is appraised incorrectly. It is generally an informal hearing type of process. If you can provide proof that similar properties are appraised for less, or provide one or more professional appraisals substantially less than the county appraisal, the county must consider this evidence and render a decision. Every state is probably different in this process, but that's how it works where I live. Hope this helps ya.