Three Ways to Win An Appeal to Lower Your Wake County Real Estate Property Tax Value!
If you are like me and the other 425,000+ Wake County property owners you got a little bit of sticker shock when you opened up your letter from the Wake County Tax Administration office last week! There's plenty of news articles like the ones HERE and HERE that go over WHAT happened and WHY. What I want to go over is HOW you can legally get it lowered for free through an Informal Review and Appeal in just a few minutes of your time.
1. Confirm the Details
County tax departments do their best, but mistakes do happen. The very first thing is to look up the tax records for your property and confirm the details. You can visit https://services.wake.gov/realestate/ and search by owner name or address to find your property's record. Confirm the details like square footage, year built, and acreage to make sure that the county doesn't have your home listed as larger than it actually is.
2. Consider the Uniqueness
As we previously discussed, counties revalue properties all in the same year. They come up with modeling and use algorithms to mass-revalue properties. Every single piece of real estate is unique. What are some of the things that make your property less valuable that an algorithm would not see? It could be the fact that you're lot is located on a busy road, they're developing the vacant land behind your lot for a new highway or subdivision, or maybe your subdivision has overly restrictive covenants. Anything that would affect your fair market value that is not your basic details is fair game.
3. Contact an Integra Realty REALTOR®
The final piece is to counter the county's value by contacting your Integra Realty REALTOR® for a free Comparative Market Analysis (CMA). An Integra Realty REALTOR® can use their expertise and tools like the Multiple Listing Service (MLS) to show you what the true fair market value of your property is by comparing it to others that have recently sold. They can send you the report to upload or send in with your appeal as evidence of a lower value.
You have options. Don't take the county's word for it. Do your own research. Get some help. It's free and your right as a property owner. If you have any questions at all about the process or if you would like a free CMA, click here to contact your Integra Realty REALTOR® today!