August 13, 2012 1 Comment
Occassionally I get emails and calls from people who have filed their own proprety tax appeal, but don’t know how to go about working something up that would help him or her obtain a reduction in their fair market value. There are three approaches to value….the cost approach, the market approach and the income approach. One needs to figure out which approach the assessor’s office is using to obtain the fair market value and proceed from there. Typically it helps to have sales that are applicable to the year appealed for any property and if it’s an income property, it’s good to have three years worth of profit and loss statements as well as rent rolls. As far as the cost approach, it helps to have an understanding of what things cost to build and how much improvements depreciate annually. It takes a great deal of work and know how in order to effictively work up an appeal that will be successful in getting the value reduced. If one feels like he or she is over ones’ head regarding his or her appeal, please contact me, Rob Vinson, at 404-218-7874 or email me at firstname.lastname@example.org or check out my website at http://www.taxappealatlanta.com for more information.