The cost of my home just went down by 1 percent

Wtih the high property taxes I pay, I just lost at least one percent on the value of my home.

My property appraisal should be adjusted to reflect this.

Anyone with me?

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6 thoughts on “The cost of my home just went down by 1 percent

  1. Perhaps file a “Request for Reconsideration” with MPAC. Provide facts, details, comparables, photos, maps and make your case. If not initially successful you also have further recourse to request additional procedue to mount an appeal.

    Just curious: why in general do you think that the value of your property has declined…is this what a Realtor has told you?…has there been a change in zoning in your community?…an undesirable factory or parking lot built next door?…or are you just assuming this is what is happening to all properties in the city because of these difficult economic times?

  2. Hi Anyone,
    I have gone through the Request for Reconsideration, providing lots of details and facts, and I was turned down.
    Put a lot of work into it to be flatly rejected. I decided not to pursue it further.

  3. My experience has been that MPAC almost always automatically rejects the initial request for reconsideration but when you file for a further appeal they capitulate.

    What are some of your neighbours’ valuations? Are their properties comparable?

    What are the circumstances that may have contributed to your changed valuation? See if you can document certain negatives in the home or neighbourhood, or what Realtor’s call “permanent defects” around which you can build your case?

  4. Hi Anyone.
    There was quite a fluctuation in our neighbourhood when I took a look at the valuations.
    I think I am too late for an appeal but I will keep in mind what you said about the request for reconsideration on the next one and file the appeal if need be. Thanks for this.

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