Evidence for property taxes assessments points out that whoever is on the receiving end needs to scrutinize.
What evidence? It was reported that 48% Of All NJ Homeowners are Over-Assessed – found in: http://easytaxfix.com/pdf/2012%20NJ%20Over-assessment%20White%20Paper.pdf (data obtained from the MOD4 and SR1A files maintained by New Jersey County Assessors). If that happens and assessments are so off in New Jersey, what about other states?
Then there is Consumer Reports telling us that an error rate of 40% exists in estimating property taxes. (Nov.1992 v57 nil p.723). Also The National Taxpayers Union tells us that as many as 60% of all homeowners are over-assessed which means that the tax assessment assigned is higher than their home’s actual market valuation (“How To Fight Property Taxes” 2004 p.1). Over a 10 year period, that can amount to a lot of money one did not have to shell out!
The system is at the mercy of blanket appraisers that do a revaluation when the municipality deems it necessary. The lowest bid gets the towns blanket assessment job. The only time the town tax assessor sticks his nose into the situation is when one is appealing a property tax.
The town budget is basically self-serving in that no one is going to go out of their way to lower an unjust property tax unless it is appealed. They have their dog in the hunt.
With real estate property tax assessment valuations changing like mercury in a thermometer, do you think there is a need for a property tax consulting course?