Expert: Dick Dennis - 9/25/2009

Question
I have to go before Board of Review. I will contend they did not take enough Physical Depreciation(age 20 yrs/frame) Is 1/2% to 1% a year logical?
I contend their is both Economic and Functional Obsolescence(depreciation) because my home abuts a highway, and all traffic in and out must past my home. Others in the sub division(same sise lot), but in the back do not have this problem. They will contend a lot is a lot is a lot and all valued the same per s/f.
Secondly my home does not comply to most others and altho I have 2,146s/f and others do as well up to 3,000 s/f; I have almost no cupboards and lack counter space, all others have 3 B/R's, I have 2, most have master baths, I do not nor a jetted tub, etc and they do, I have no D/R or Landry Romm, but most others do, I have no grass as my landscape is al-la natural & is the only one like this. My home would not be desirable to most buyers and hard to market. It was built and designed for us period. Please comment & suggest what I can tell them as to why my value should be lowered.  THANKS/will await you reply with suggestions!

Answer
Every state and county within those states have their own way of evaluating the property within their borders. Your logic may indeed be valid elsewhere, but in your county, your board of review is populated with people who have an allegiance to the people who appointed them to those positions, who in turn, have a political relationship with the people who appointed them, sometimes being the public who voted for them. In order for them to be worth their pay, they have to insist on a higher appraisal so you can be taxed at a higher rate.

Here is an idea that may work: ask two very knowledgeable (in your area) Realtors to give you a price opinion on your house. Also pay for the time of a legitimate real estate appraiser and get his figures to present to the review board. That board is going to pay close attention to the county's appraiser and may give him a heavier weight of opinion. I know, I have been there in my county's board of review. They gave my information little weight and gave lots more weight to their appraiser who totally used houses that had no comparable condition, location or value. I do wish you well.

Dick Dennis