If you believe that the new estimated market value does not accurately reflect the market value of your property for October 1, 2021, the first step is for you to contact the Revaluation Company.
Included with your notice will be instructions on how to make an appointment for an Informal Hearing to review your new market value. This is the proper way to correct any clerical errors or miscalculations. A member of the Revaluation Company will go over your property record card with you. No decisions will be made at the time of your Hearing. After a review of your information, an adjustment will be made if you show that an error significantly affecting the description (and subsequent value) of your property was made. If there appears to be a major discrepancy between the information on your property record card and the factual state of your property, the Revaluation Company will re-schedule another inspection and review of your property.
As a result of your Hearing, a Change or No Change notice will be mailed on December 31, 2021.
When trying to determine if your new market value is reasonable, remember to compare your property with similar properties in your neighborhood. Do not compare your colonial with a ranch-type home or your 2,500-square-foot home with a 1,600-square-foot home, etc.
Although a small percentage of property owners actually go through the appeal process, (if you believe a mistake has been made) you are encouraged to schedule an informal hearing, and then, if necessary, a formal hearing, with the Board of Assessment Appeals, to ensure that your assessment is fair and equitable.
Remember, what you are appealing to is the total market value of your property.