It appears that our local jurisdictions have not totally gotten on board with the real estate market price readjustments when assessing properties for tax purposes. They were very quick to increases our valued assessments when the market was on an upward swing. Since we have been on a steady decline, they are not very helpful in decreasing our values to bring them in line with the current market values. I have offered to assist my clients with representation to their local jurisdictions by compiling the comps for their area in the recent year. This has helped many of them get their values for tax purposes lowered and they are very grateful. It seems that if the board making those appeal decisions are presented with hard sales facts from recent sales (arms length sales), they will reduce their values. This is a service worth offering to your clients and a great way to keep in touch while providing a service that they can use.
Christine, Traverse City, MI