How do I know if my property is over assessed?
While any property can be overvalued properties that have a higher probability of being over-assessed include:
- Any property not appealed in the last 2-3 years
- Properties that experience economic problems (i.e. idle capacity, declining rentals, increasing vacancy, etc)
- A recent sale or purchase
- New construction
- Properties that have polluted or contaminated soils
- Properties that are part of a declining market
- Properties in a municipality that has gone through a revaluation
- Older industrial properties