Property Tax Appeal (short sale, assessor, lender)

airics · 02-15-2009, 06:16 PM

Just curious if anyone rec'd notice from Clark County yet... I rec'd a certified notice on Saturday but missed the mail man, so now i wait till Tuesday.. said las vegas - tax on notice so i am assuming that this is what the letter is about...

delgadobb · 02-15-2009, 11:59 PM

Yes. I was out of town for 2 1/2 weeks, my girlfriend signed for 'something', turns out it was notice to appear this Tuesday, Feb. 17 @ 9:00 AM.

It says "We encourage you to arrive at the Board of Equalization hearing room in a timely manner in the event that petitioners scheduled ahead of you decide not to appear. Depending on the length of the agenda, your case may be heard anytime between 9:00 AM and 5:30 PM." Does this mean I should plan on burning the entire day at 123 E Washington Ave?

My letter says that Assessor's data related to my case 'will be available three days prior to the date scheduled above'. The letter wasn't delivered until Wednesday, I was out of town until the weekend, my hearing date is Tuesday & cannot be changed. Any suggestions? My guess is they aren't going to be around tomorrow (Presidents' Day) to provide me the assessor's data - kinda akward timing & short notice if I want to do anything about it. Is the conspiracy theorist in me too active, or is this just coincidence?

I filed my petition just before the deadline with several comps (thanks to Olecapt). What should I expect at this hearing? Do I just show up with my comps & make my case? What else should I do to prepare? Can I take anything with me (MP3 player/food/drink/newspaper) to help pass the time?

Buzz123 · 02-16-2009, 12:47 AM

Are you saying that if you appeal the assessment you have to jump through a lot of hoops and go to a hearing? The value of my house keeps going down and the assessors office keeps raising their assessed value, so I wanted to appeal. Any help on this would be appreciated.

airics · 02-16-2009, 09:44 AM

wait, what happens if you are out of town and miss the appt.

canadianexpert · 02-16-2009, 11:27 AM

I received my certified letter Saturday and my hearing is Friday Feb. 20th. I'm so glad they gave me lots of advance notice, they must want a lot of people to miss their hearing also the time is 8:00 A.M. to open due to volume. They did offer to reduce my value from their appraised from 221000 to 215,000, i declined as the last house sold for 200,000 with a 6,000 seller incentive with more comps listed below 200,000. I said my fair market value was 190,000 and I believe it is a fair market value for a 2405 sq foot home in the 89149 zip. I'm going to bring some comps and current listings to the hearing and see how crooked these guys are going to be as the home was purchased in May 08 for 265,000 and i had to pay $4200 in taxes for a year based on the last appraisal year 2008-2009 of 360000 and not the purchase price.
As to the question if you can't show up I'm sure they will default it to the reduced amount they sent you in the letter. Also after your hearing could those who appeal post how they did.

olecapt · 02-16-2009, 11:39 AM

Generally it is sales that carry the day. Listings are discounted particularly if they are short. REPOs count if they are common...one or two in an area will be discounted.

This is not assessor stuff...just the standard rules on appraising value.

airics · 02-16-2009, 02:41 PM

Quote:

Originally Posted by canadianexpert

I received my certified letter Saturday and my hearing is Friday Feb. 20th. I'm so glad they gave me lots of advance notice, they must want a lot of people to miss their hearing also the time is 8:00 A.M. to open due to volume. They did offer to reduce my value from their appraised from 221000 to 215,000, i declined as the last house sold for 200,000 with a 6,000 seller incentive with more comps listed below 200,000. I said my fair market value was 190,000 and I believe it is a fair market value for a 2405 sq foot home in the 89149 zip. I'm going to bring some comps and current listings to the hearing and see how crooked these guys are going to be as the home was purchased in May 08 for 265,000 and i had to pay $4200 in taxes for a year based on the last appraisal year 2008-2009 of 360000 and not the purchase price.
As to the question if you can't show up I'm sure they will default it to the reduced amount they sent you in the letter. Also after your hearing could those who appeal post how they did.

it seems like you are arguing over the market value with a difference of 25k.. the taxable value difference is not going to be that big of difference.. in my case, i paid 270 for the house and the same house is averaging 135k

canadianexpert · 02-16-2009, 04:27 PM

Airics did they send you a letter last week with a different value than the appraised value for the upcoming year after you filed an appeal? They even called me at home to tell me they lowered the assessed value. I know the amount is small but low its based on principle because when I bought the house I was led to believe my taxes would be approx 1800 for the year which i questioned because it was low, well it ended up being aprrox 4000 for last year when 2500 would be right value based on sale price, which raised my escrow payment $100 a month, just as station casinos started slahing work hours. I also have another property they valued at 160000 for upcoming year when real value is 130000 purchased for 270000 I didnt dispute because the bank can have it back via a short sale or whatever. They are valuing everyone's house high IMHO to generate extra tax revenue and they know most people wont fight it. I'm surprised 6,000+ did make the effort I was hoping for 10,000 or more. My main goal is to get the appraisal as low as posssible so when we do recover the 3% tax cap will be a benefit.

airics · 02-16-2009, 08:47 PM

if you let one go, you know the bank is going to come after the other and lien it

olecapt · 02-16-2009, 09:06 PM

Quote:

Originally Posted by airics

if you let one go, you know the bank is going to come after the other and lien it

Unlikely though not impossible. I don't think there have been many, if any, deficiency judgements in NV. It is complex and expensive for the lender and is trumped by bankruptcy.

It may well be that there are good reasons you won't chose BK...but the lender does not know that. So other than the very well moneyed it is not likely.