PropertyTax Appeal with Appraisal report

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irvinedav

New member
My recent appraisal report has lower price vs County's Property Value Notice. After studying oc website, need some advise here:

1) Can I simply present appraisal report during hearing? since it already has 3 comps listed. Will they accept such report or do I have to manually copy/paste from appraisal report to fill out comp worksheet published on oc website?

2) 90 days rule. One of the comp in appraisal report has following sale info "s:04/12 c:03/12" - guess it means contract in 03/12, closed in 04/12, does it qualify as "90 days rule"?

Thanks!
 
irvinedav said:
My recent appraisal report has lower price vs County's Property Value Notice. After studying oc website, need some advise here:

1) Can I simply present appraisal report during hearing? since it already has 3 comps listed. Will they accept such report or do I have to manually copy/paste from appraisal report to fill out comp worksheet published on oc website?

2) 90 days rule. One of the comp in appraisal report has following sale info "s:04/12 c:03/12" - guess it means contract in 03/12, closed in 04/12, does it qualify as "90 days rule"?

Thanks!
Click to expand...

1. The appraisal should have the info you need, if the properties closed within the 90-day rule period. I believe that you can submit the lower of the recorded price, or the appraiser's adjusted comparable value if you have the report (which adjusts for size, location, and condition differences). Remember that you're building a case for a reduction, so the more support you have, the better the chances are that you'll get what you're looking for.

2. A home with a recording date (sale date) of 4/12 would not count, even if the property was in contract earlier.

3. If you'd like info on comparable closings, feel free to PM me and I'll provide them free of charge.

4. I'd suggest that you call the assessor's office to confirm the info above. Charlene has been very helpful in the past.

Thanks,
-IR2
 
Redfin has been helpful in locating my select "comps".  I did a search with these parameters..

Irvine
price range (my target was low $500s, so range was $500-550k)
check your property type (condo, house, etc.)
uncheck all listings except for sale records (my date range is 1/1/11 to 3/31/11)

sort the list by $/sq ft and pick your best comps from the top...

you might want to include all property types to get more results (some detached condos are listed under house type)

My appointment with the hearing officer is in a few days...  Hopefully he likes my comps... Anyone know if picking a similar property about 1.5 miles away is a no-no?  Still in Irvine just on opposite ends (i.e. Northwood vs Oak Creek)
 
Thanks IrvineRealtor, will follow your suggestions here.

Thanks PS9, hope u "big win" with the hearing officer!!
 
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