County Appraised value Vs market sales value

United States
December 27, 2011 4:21pm CST
Have you ever tried to appeal your property tax because it wasn't the current market sales value? Usually, the appraisal value from your county every year is slightly higher than the current market value. Average above 27% - 34%. Since millage rate is higher, the county tax would levy more tax from you. Some local residents would dissatisfied with their tax bills, and they usually appeal for it. Such high tax might also help increase the revenue for the local counties. Some investors have more than 10 properties across different counties, their annual tax bill might be around $24,000 or more. To lower such tax bill, should the local government go along with the market sales value?
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