Challenging incorrect property valuations
Florida property owners may have to pay thousands of dollars because of tax valuations of their homes. When residents believe that the valuations for their properties are too high, they can challenge them.
Some appraisers incorrectly note features of properties, including listing more bedrooms than the homes have or failing to note conditions that should drop the home’s value such as cracked foundations. Homeowners should carefully review the appraisals to see if any mistakes were made, and if there were, they should ask that they are corrected.
Another issue that may occur involves the use of sales of other homes in the area as a basis for valuation. If there haven’t been any recent comparables, then the property owners can compare the sales prices of homes that are similar to theirs in other areas that are nearby. When people are preparing to challenge the tax valuations of their homes, it is important for them to understand the required procedures. Appealing a tax valuation may involve administrative appeals that must be exhausted before the homeowners can seek redress in court.
Residential real estate property valuations may result in excessive taxes. These valuations may also be performed when the city or state is attempting to take the property through eminent domain, and in that case, the valuation may be too low. People who believe that their property valuations are either too high or too low might need to get help from a real estate attorney who could build evidence that will help the client to establish what the valuation should reflect. This may help people to successfully challenge the valuations that they have received. Attorneys may also be able to challenge the seizure of property if the purposes are not for legitimate and allowed reasons under the law.