For those of you who are concerned about your property taxes, you know you can contest them, right?
Though I'm no expert and I do not have a real estate license, what I'm seeing when I spend copious amounts of time reading real estate industry articles is that the real estate market is softening. Pay attention this year and the next year to your property tax evaluation. Even if it goes down (yes, that can happen), you can still squawk and have it lowered even more.
Now then, it does take a bit of legwork. Go to the county assessor's web site, poke around a bit until you find the directions and/or a form. Fill it out and be diligent. Is your AC older? Has your roof gone through a hail storm? Are your countertops not (gasp!) modern? These items matter in your valuation.
Ask a real estate pal--or even one from an office down the street--to run comps for you. Tell them why you want them. I assure you, a real estate agent will understand what you are doing. Anyone who was in the biz more than 16 years did this for their clients at one time. If you need an agent to do this for you, hit me up. I might know a couple. This is probably the ONLY occasion where I'd suggest using Zillow for help, because Zillow is never accurate.
Also, pick and chose your comps. It's okay. This is your estimation of value and more importantly, your money. Translation: the folks at the assessor's office don't have time for this nonsense and generally just rubber stamp what you say if you are reasonable.
I just did this here in Bowie County and had my valuation lowered by $50k. Now then, when I go to sell, I have zero concerns about getting the right price instead of the assessor's new valuation. Appraisers and real estate agents don't use the county assessor for comparable properties. By the way, I also gave the same comps to another pal in Wake Village who had her value lowered too.
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