Tuesday, January 26, 2010

Property Tax Appeal Saves $49,000 on 17 acres

Tax Appeal saves $49,000 in property taxes on 17 acres

The 17 acres are two mostly developed outlots for additional phases of a
single family subdivision. Its a lovely development - the nicest of the five
developments being appealed for this builder. This subdivision has a park
and homes selling in the low $300s in this 3rd ring suburb.

Its getting to the pretty development that's the problem. You have to drive
through an older subdivision of split levels homes that has not aged well.
If Massachusetts Senator Scott Brown parked his pick up truck on the front
lawn it wouldn't look out of place.

There have been sales activity in the community and I chose not to protest
the valuation of the lots at $78,000 for the Pay 2009 property taxes. If
your finished lots are worth $78,000 the land for future phases is not worth
$175,000 an acre! The assessor agreed with my analysis.

This property tax appeal resulted in a settlement of 66% reduction for Pay
2009 and and 64% reduction for Pay 2010. Which means an actual reduction in
taxes over the 2 years of nearly $49,000 for these 17 acres of residential

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