hi everyone ;D,
Last year, I appealed my property tax assessment and now I am scheduled for a hearing in April.
A few months ago, I attended the "How to prepare for your assessment appeal hearing" workshop, which was very helpful. One thing mentioned at the workshop was that you need to adjust the sale price of comp's to reflect their value on lien date, which would be January 1, 2010. It was also suggested that market trend date published on the Orange County Register could be used to calculate this adjustment.
Now that I am finally coming around to preparing for the hearing, I am wondering how exactly this is done. For example, if one of my comps sold date was June 15, 2009, how exactly do I adjust it's value? Should I use the change in the median sale price in my zip code between June 2009 and Jan 2010 as a reference? But since there aren't that many sales in any given month, the median price fluctuates rather wildly...Should I use the change in the median house price in Irvine? Orange County?
Thanks in advance!
Last year, I appealed my property tax assessment and now I am scheduled for a hearing in April.
A few months ago, I attended the "How to prepare for your assessment appeal hearing" workshop, which was very helpful. One thing mentioned at the workshop was that you need to adjust the sale price of comp's to reflect their value on lien date, which would be January 1, 2010. It was also suggested that market trend date published on the Orange County Register could be used to calculate this adjustment.
Now that I am finally coming around to preparing for the hearing, I am wondering how exactly this is done. For example, if one of my comps sold date was June 15, 2009, how exactly do I adjust it's value? Should I use the change in the median sale price in my zip code between June 2009 and Jan 2010 as a reference? But since there aren't that many sales in any given month, the median price fluctuates rather wildly...Should I use the change in the median house price in Irvine? Orange County?
Thanks in advance!