What is a tax appraisal?

A tax appraisal is a process of determining the value of a property for the purpose of calculating property taxes. Property taxes are levied by local governments on real estate and are typically based on the value of the property. The purpose of a tax appraisal is to determine the fair market value of the property, which will be used to calculate the property tax owed.

Tax appraisals are typically conducted by local government agencies or trained and licensed professionals who are knowledgeable about the value of real estate in the area. The process of conducting a tax appraisal typically involves the following steps:

The appraiser will gather information about the property, including its location, size, age, condition, and features.

The appraiser will gather data about the local real estate market, including recent sales prices of similar properties in the area.

The appraiser will conduct a physical inspection of the property, taking note of any issues or defects that may affect its value.

The appraiser will analyze the data gathered and use it to determine the value of the property.

The appraiser will provide a written report detailing the value of the property and the reasons for the valuation.

It is important to choose a qualified and experienced appraiser to conduct a tax appraisal, as the accuracy of the appraisal will have significant consequences for the amount of property tax that is owed. Property owners have the right to challenge the value of their property as determined by a tax appraisal, and may do so by providing additional evidence of the property's value or by requesting a review of the appraisal by the local government agency.