An appraisal is good for tax appeal because it provides an objective valuation of a property's worth, which can be used as evidence in a tax appeal hearing. In a tax appeal, a property owner challenges the assessed value of their property in order to lower their property tax bill.
Here are some reasons why an appraisal can be helpful in a tax appeal:
An appraisal provides an objective and independent valuation of a property's worth. This can be useful in demonstrating that the assessed value of the property is too high, and that the property owner should pay lower property taxes.
An appraisal report can be presented as evidence in a tax appeal hearing. The report can demonstrate the fair market value of the property and show how it was determined, which can help support the property owner's argument for a lower assessment.
If the appraiser who conducted the appraisal is called to testify at the hearing, they can provide expert testimony about the value of the property. This can be useful in answering questions from the board of appeals or other parties involved in the hearing.
An appraisal can be used as a starting point for negotiations between the property owner and the assessor's office. If the appraisal shows that the property is overvalued, the property owner can use it as evidence to support a lower assessment, which could result in a lower tax bill.
Overall, an appraisal is an important tool in a tax appeal because it provides an objective valuation of a property's worth. This can help property owners challenge assessments that are too high and potentially reduce their property tax bill.
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