Friday, September 30, 2011

If I bought real estate lower than its total assessed tax value, can I have the tax re-evaluated (decreased)?

I live in Fairfax VA, and I recently bought some property for cheap, and it was below its assessed tax value. My taxes are pretty high right now, so I was wondering if there is a way to have my real estate taxes re-evaluated so my taxes will decrease?

Chosen Answer:
it is possible, i am in PWC.
You need to pull comps on at least 3 or more houses like yours that have sold recently. If all are down then there is a good chance to get a re-appraisal.
However if you bought it because of condition that can be restored and the value goes back

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