Unless you have let your mail just pile up over the last few days, you are likely aware of the Jefferson County Property Valuation Administator's postcard to us homeowners in the past week. The PVA has done a computer re-evaluation of properties in the Bon Air Neighborhood, and they have raised the values of our properties. I was not thrilled that they notified us in such an un-private fashion.
Nevertheless, property values are a mixed bag. Yes, when we sell our properties, we hope to get top dollar. Hopefully, we will get our equity and maybe then some from the sale of the house.
However, higher property values mean higher taxes. Property taxes are the primary way municipalities and counties get the needed revenue to operate. While some tax payment is necessary, I think it is important not to pay any more tax than necessary.
This brings me to the re-evaluation. There can be a big disconnect from what the PVA says your house is valued compared to the real market. They do a "computer reassessment." So, if you think that your property is over-valuated, I would encourage you to challenge it.
The method is pretty simple, if you know what houses have sold on your block, you can the sales prices up using Zillow or even the PVA website itself. Then you set yourself up for an appeal using the PVA's online conference option. Show the PVA representative what similar houses have sold for on your block, and state the opinion that the PVA's price was unrealistic.
Many of the blocks in Bon Air are "Tract" homes in that they are similar if not the same models on the same blocks. The developers were not being original in making for different homes on different blocks.
I have found the PVA to be reasonable in the past. They may not agree 100 percent with your opinion, but if you have good documentation of local properties supporting your opinion, the probability is high that you can get your valuation lowered.
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