Assessment Review Checklist
The check list will be useful if we reviewed the property last year.
We recommend a review of any new property or any for which no review has been done for a few years. The purpose of undertaking a review is to:
- Determine whether the current assessment is fair and equitable;
- Advise whether there is potential to decrease the assessed value;
- Make sure there is no danger in the assessment going up on Appeal;
- Provide an analysis to enable quick review of assessments in the following year;
- Have a letter on file in case the tenants question the assessment after the fact.
No increase in assessment does not mean the assessment is correct and purchase price often does not equal market value.
In comparing this year‘s assessment with your previous year‘s assessed values and classifications, some of the following may result in a required change:
- Change in rental level
- Any new tenancies?
- Physical changes to the structure?
- Major repairs required?
- Change in the site size or legal description?
- Any problems or issues with the property
- Market changes since a recent purchase
- Change of type of use in the property
The questions are whether the change is reasonable and whether the original assessment was correct.
Appeal deadline January 31st.
Should I Appeal?
- Is Your Property Assessment Correct?
- Are You Paying Too Much Property Tax?
- What Can We Do For You?
- General Assessment Review Guideliness
- Assessment Review Checklist
- 7 Reason Why Landlords and Property Managers Should Review Property Assessments
- What Tenants Ought to Know
- Residential Development Sites
- Is Assessed Value Equal to Market Value?