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Property tax re-assessment double of average? How to fight?

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Wcross Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-22-06 07:43 PM
Original message
Property tax re-assessment double of average? How to fight?
I want to pay my fair share. I own three parcels of property all connected to form my home. Its 15 acres all told, 5 acres each. The newspaper said that the average increase was 30%. The parcel with my home on it increased by 35%. The two parcels that adjoin my house each went up 60%. I bought them three years ago for 2000 an acre and now they value them at 6600 an acre. There is property on the market in my area for that price but mine has no road frontage and no city water. This is in a rural area with slow growth. I can't even see a neighbors house from my property.
How do I fight this?
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Lars39 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-22-06 07:48 PM
Response to Original message
1. Go to TN's government website.
Edited on Sat Apr-22-06 07:48 PM by Lars39
I think you can get a hearing to contest the appraisal.
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elehhhhna Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-22-06 08:53 PM
Response to Original message
2. find comps--not list but SALE prices, and check you exemptions...
the tax rolls are on line per county ususally and thw comps will work at your appeal.
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flvegan Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-22-06 09:08 PM
Response to Original message
3. Homestead it all, and then
convert the three parcels into the one (or vice versa, depending on the laws in your state).

Likely, sales on vacant land are driving your other two parcels up.

As "one" property, you'll probably avoid this. The nice thing is, that if in the future, you want to divide them, you still can.

Also, with no road frontage, you MIGHT be able to request a reassessment based on the marketability of the property. With no access for ingress and egress, the property is worthless. Combine them before you sell, or grant an easement at that time.

You have many options.
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