As tax season comes into a full swing, real estate appraisers are reminding homeowners that they can assist them with any appeals of property taxes.
“Sometimes errors are made in how local governments calculate the amount of tax a homeowner owes,” James Murrett, president of the Appraisal Institute, said. “It’s possible for assessments to be based on flawed information, such as incorrect square footage or number of bedrooms or bathrooms or even location.”
If there are mistakes by assessors, it is nothing personal, Murrett pointed out. Assessors cannot look at each property individually every year as an appraiser might for mortgage financing, employee relocation or other single-property appraisal assignments.
However, homeowners should know that they can file an appeal. Qualified appraisers – such as Designated Members of the Appraisal Institute – can help homeowners who decide to appeal their property tax assessments.
“An experienced local appraiser can shed light on the local appeals process. However, this doesn’t mean that appraisers advocate an unreasonably low value for their clients because that would be an ethical violation,” Murrett said.
He added that it is important for homeowners to hire an appraiser who conforms to industry standards.
“Designated Members of the Appraisal Institute act in an independent, objective and impartial manner and advocate only for their expertly developed value opinions,” Murrett said.