Property Tax Appraisals
Ensuring Your Property Taxes Reflect The "TruValue" Of Your Home
While it is possible to resolve your tax assessment issues with a phone call to your local taxing authority, it is more likely you'll need to substantiate your claim of a lower property assessment with a professional and independent appraisal to prove your case.
TruValue Real Estate Services offers our clients experienced appraisal professionals trained in the tax appeal process. There are a lot of different procedures for appealing tax assessments, so it is important to enlist the help of an experienced and professional appraisal company. When you hire TruValue Real Estate Services for your tax assessment appeal, your are commissioning us as an independent third-party to perform a professional appraisal report that adheres to the Uniform Standards of Professional Appraisal Practice (USPAP).
TruValue Real Estate Services appraisers do a complete evaluation of your property. If you are correct that your property has been over-valued, an independent report such as ours will be more persuasive than any other evidence you can provide on your own, but keep in mind the appraisal must be performed independently and without any undue influence.
Is your property over-valued by the County Appraisers office?
How would you like to lower your property taxes? Imagine! Saving $1,000's of dollars in property taxes. How? By taking the time to protest your new valuation by the County Property Appraisers office.
Did you fail to appeal your property tax valuation? It’s okay if you did. But you must act quickly, as appeals of the new years valuation must be filed between January 1st and 25 days after the mailing of the “Notice of Proposed Property Taxes” (also known as the Truth in Millage “TRIM” notice). TRIM notices are typically mailed in August.
Here’s the quick summary of the process! Your Truth in Millage (TRIM) Notice will be mailed to you mid-August. Once received, you have only 25 days to file an appeal. If an appeal is not filed by the deadline you will have to wait until next year to appeal. If you filed an appeal in 2017, and if a reduction was granted, it applied to the 2017 taxes. If you did not appeal in 2017, you can still appeal your 2018 valuation, but an appeal must be filed by the deadline dates.
The Good News! This is an event you have the control to influence the outcome. You have the power to protest your county valuation and REDUCE YOUR TAXES! But, you must act quickly!
Find out how to analyze your property tax valuation easily, cost effectively, and professionally!
You owe it to yourself to take the time and effort to determine if your property is being valued fairly by the County Property Appraiser. After all, there is a Lot of Money at stake!
The National Taxpayers Union documents that as many as 60% of all properties in America are over valued. Yet, less than 1% appeal their taxes. Most people don't appeal their house tax assessment because they do not know how. The process of reducing your property taxes can be frustrating and confusing.
To find out what your property’s current assessed value is, visit the St. Lucie County Property Appraisers website and enter your name or your address and look at your property information. Then give TruValue Real Estate Services a call at 561-568-5515 and we will work with you on making sure your property’s assessed value is accurate, and you are not paying more than your fair share of property taxes.
If you are a St. Lucie County property owner and believe you're paying more than your fair share of property taxes you only have a limited amount of time to appeal. Most successful appeals require an appraisal done by a licensed real estate appraiser, who will provide an expert opinion of the fair market value.
State and Federal laws require that the appraiser and the appraisal process must be independent from any influence, coercion or pressure. This ensures that the appraiser remains a truly independent third party. The appraisal should include a well-supported, professional report that is defensible in court. Therefore selecting a qualified licensed real estate appraiser who, if needed, can also give clear testimony can be extremely important.
It is equally important that you hire an appraiser experienced in Retrospective appraisals. That's because the effective date of value of your appraisal must match the effective date used at the time of your assessment. Did you know that the law provides that property must be valued as of the January 1st that preceded the fiscal year at issue? For example, for fiscal year 2014, which runs from July 1, 2013 to June 30, 2014, the valuation date is January 1, 2013.
Our Approach: When you hire us for an assessment appeal, you’re commissioning us as an independent, third-party to perform a professional appraisal report. As such, we do our own evaluation from beginning to end. If you’re correct that your property has been overvalued our independent report will be more persuasive than any other evidence you can provide on your own. But once again it does depend on our ability to do the work independently.
Appraisers are prohibited by the Uniform Standards of Professional Appraisal Practice (USPAP) from accepting an appraisal assignment subject to hitting a desired value. Nor are we allowed to take any research or other shortcuts. We are also bound by the ethical provisions within USPAP which guarantees our customers the highest level of confidentiality and discretion. In addition, we provide you with comprehensive appraisal reports that meet or exceed requirements of the IRS, courts and other various agencies.
Working with TruValue Real Estate Services, rest assured that you will get the best in professional service and courtesy, while also receiving the highest quality appraisal reports. Our team of exceptional appraisers will be discreet and respect and protect your family’s privacy. And if necessary Aladdin Appraisal stands behinds its appraisals and value estimates should matters advance to the need for testimony.
Our Senior Staff Certified Appraiser, Jason Manzo will personally complete your appraisal. We welcome your telephone inquiries and invite your questions about our process.
How much is at stake?
Taking the time and expense to investigate and appeal the market value assigned by the County Property Appraiser can be quite profitable. As they say, a penny saved is a penny earned. Take the time to determine if your property is reasonably valued.
Property taxes typically represent the largest non-mortgage expense associated with property ownership. Yet, most people don't appeal their tax assessment because they don't know how. They have no idea how to determine if they are being overcharged, so taxes remain unchallenged. Our goal is to demystify the process, make it easy to understand, and put you in control of your property taxes.
Why would your property be over-valued by the County Property Appraiser?
The County Property Appraisers office has a very difficult task. They must assign values to hundreds of thousands of properties. And, the diverse array of properties in the county increases the complexity of this task. The time constraints involved in valuing such a large number of unique properties necessitates the use of mass appraisal techniques.
Mass appraisal methodology involves the use of regression analysis. This methodology often does not properly account for meaningful differences in value, such as site characteristics, views, locations, renovation of properties, construction quality, and unique appeal characteristics. Problems are compounded when the sales data from a neighborhood is diverse, which is very common in our marketplace.
This is the reason why mortgage lenders and banks do not accept the county assessed valuation when making real estate loans and mortgages. Valuations for property tax purposes just do not provide the level of accuracy required to secure their interests of lending situations.
Why does the use of mass appraisal methodology result in errors?
The reliability of Mass Appraisal methodology is directly dependent on the:
1. Accuracy of Subject & Comparable Sales Data: Unfortunately, there are many reasons for errors in the County data.
- Errors are made in characterizing properties.
- Properties change, and the county staff is unaware of the changes.
- Sellers do not fill out the Transfer Declaration forms correctly, resulting in inappropriate Effective Sales Prices of comparable sales.
Through research, these errors may be rectified, resulting in successful tax protests that save taxpayers significant sums of money. The appraisal staff of TruValue RES, Inc is prepared to perform research to detect these errors.
2. Similarity of Comparable Sales Data: It is important to remember that the greater the number of differences between a property and a comparable sale, the greater the chance of making an error in quantifying the market adjustment for that difference. Therefore, if the sales data utilized to value your property differs substantially, there is a stronger likelihood of an unjust valuation being assigned to your property.
What to do now!
We understand that this can all be a bit confusing. If you have any doubts about the accuracy of the value assigned to your property by the County Property Appraiser, order a Desktop Appraisal Report now! You will be provided information needed to help determine the reasonableness of your property value and the feasibility of an appeal.
When you order an appraisal report from us, you can expect. . . .
- Prompt response to your initial inquiry: We will give you personalized information for your particular appraisal need. Just tell us your situation and we will make suggestions. Do you want to sell your home quickly or for the highest value?
- Quick turnaround time: Typically 2-3 days from the date the request is received. If you've chosen to receive a copy of your appraisal or consulting report via the Internet (EDI), you'll receive it within MINUTES of its completion.
- Appraisal and consulting reports formats to suit YOUR needs: When it comes to appraisal and consulting, "One size does NOT fit all!" We offer a variety of report types and delivery methods. We can deliver your report attached to a standard email, or notify you of an Internet site to download your report, the MINUTE it's completed!
- Quick response to follow-up questions: Our reports are clearly written, understandable, and meet or exceed the Uniform Standards of Professional Practice that governs the appraisal practice. If you have any questions regarding your appraisal, after you've read the report, we encourage you to email or call us!