JWD APPRAISAL SERVICE BLOG

Tax Appeal 05/07/2009
May 7th, 2009 8:26 PM

If the ratio of assessed value to true value exceeds the average ratio by 15%, the assessment is reduced to the common level.

Example Director’s Ratio = 85% Common Level Range = 72.25%-97.75% True Value = $95000 Assessment = $94000 Ratio = 98.95% ($94000÷$95000) Judgment = Reduction in assessed value New Assessment = $80750 ($95000 x 85%)

However, if the assessment falls within this common level range, no adjustment is made.

Example Director’s Ratio = 85% Common Level Range = 72.25%-97.75% True Value = $95000 Assessment = $90000 Ratio = 94.74% ($90000÷$95000) Judgment = No change in assessed value

If the assessed value to true value ratio falls below the common level, the Tax Board must increase the assessment to the common level.

Example Director’s Ratio = 85% Common Level Range = 72.25%-97.75% True Value = $95000 Assessment = $67000 Ratio = 70.53% ($67000÷$95000) Judgment = Increase in assessed value New Assessment = $80750 ($95000 x 85%)

The Chapter 123 test assumes the taxpayer will supply the Tax Board with sufficient evidence to determine the true market value of the property subject to appeal. Appellants should inquire into their district’s average ratio oe consult an appraiser before filing a tax appeal. This ratio changes each October 1 for use in the next tax year.


Posted in:General
Posted by JOSEPH D'ONOFRIO SCRREA on May 7th, 2009 8:26 PMPost a Comment

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