Appraisers Can Help Take Guesswork Out of Property Tax Appeals

CHICAGO (March 8, 2023) – As many U.S. homeowners begin receiving their property tax bills, the Appraisal Institute today offered suggestions to potentially make the tax appeal process easier, such as working with one of the organization’s Designated Members to learn about the local appeals process and to discuss options.

“Homeowners need to keep in mind the importance of hiring a highly qualified appraiser who conforms to industry standards and a strict code of ethics, such as one governing the actions of Appraisal Institute Designated Members,” said Appraisal Institute President Craig Steinley, MAI, SRA, AI-GRS, AI-RRS. 

“In a perfect world, the assessed value of a particular property should match the market value when that’s the regulatory intent of the particular jurisdiction’s property assessment law," Steinley said. He also noted that tax assessors – who typically are elected officials – are not motivated to intentionally inflate assessed values and therefore property taxes.

Additionally, there can be different stages of tax appeals based on municipality, and Steinley suggested that homeowners check with a local appraiser who can provide the experience, necessary information and assistance needed to navigate this process. He added that homeowners should be aware that if errors are made in how local governments calculate a homeowner’s property tax bill, they can appeal the assessment.

Appraisers often collaborate with property tax consultants and attorneys who specialize in tax appeal matters, which could provide the best opportunity for a property owner to increase their chances of a successful appeal.