Generally, to be successful in your appeal, you must provide evidence of the market value of your property on January 1 of the assessment year. This is the day the assessor uses to establish the real market value of your property.
Listed below are the types of evidence you could use to convince the board that your property's real market value should be reduced.
- Documentation of an arm's-length sale of the property that occurred close to January 1 of the assessment year.
- A fee appraisal dated close to January 1 of the assessment year which reflects the property's value.
- Proof that the property has been listed for sale on the open market for a reasonable period of time at a price below the real market value on the tax roll.
- A comparison of properties similar to yours in location, size and quality that have sold close to January 1 of the assessment year. If there are differences between properties, the differences must be accounted for in the comparison of values.
- Cost of new construction that occurred close to January 1 of the assessment year and was performed by a professional contractor.
- Cost to repair your property. You must provide written estimates of the cost of the repairs.
- For commercial property, documentation of income and expense information or a comparable sales analysis.
- Check Real Market Value (RMW) provided by the county
- Could this be too high?
- Yes –
- Pull comparable properties to show the accurate real market value was lower. These can be up to one year previous (ie. January 1st of 2013 for a 2014 challenge).
- And/OR – Proof of sale of the property ‘close’ to January 1st of the tax year. This has been interpreted as within 12 months in previous cases.
- Is there any new construction that would increase the value of the property? Provide documentation that with these new construction items it is still being taxed at too high a RMV.
- OR – Pay an appraiser to provide an appraisal of your property within the tax year.
- Comparable properties need to be in the same ‘class’. This is found in Portland Maps under Property>Assessor>(heading) Improvement Details.
- If these comparable properties show a lower real market value and are in the same class you may have a case if their are no additional improvements that have taken place within the year that will increase your RMV.
- Is the Education portion of the taxes greater than 0.5% of RMV? If so document to what excess.
- Are the General Government taxes greater than 1.0% of RMV? If so document to what excess.