We bought our first home last year, so I'm new to property taxes.
Situation: We bought our home in Denver 7/31 for $695K. It had appraised for $720K. We got it for that price because the seller was motivated to close fast, and there was a small amount of deferred maintenance that didn't show up in the appraisal. For example, the house is close to needing a paintjob, and there's some minor drywall repair needed.
We just got the property tax notice appraising the home at $725K (as of 6/30/18), compared with the $630K appraisal from last year. Denver real estate is crazy.
Any thoughts on whether it would be worth challenging it using the $695K actual market transaction? Would the assessor more heavily weight our actual market transaction, or our appraisal that came it right next to theirs?