So, I purchased a rental prop some months back as the #s made sense, but oddly the the house was appraised for property tax at a really nutty level (nearly 40% above what I paid). One morning I call the assessment department to inquire about this and they tell that for the purposes of the mill rate the prop was valued using a sales market approach:
'OK', I say, 'but how do you get such a big number?'
'Oh we did it on Q1 __2008__ sales data' (!!)
'Whoa. But, why are you using such old data; I don't get it'
'We have a mandate to re-evaluate the entire town once every 5 years because it's expensive, lots of effort, blah blah blah...'
'But then the appraisal should have changed in 2013? It didn't, yeah?'
'Oh right, yeah, we decided to put the re-eval off for a year'
'So, you're doing the re-eval this year/right now then?'
'No, we haven't decided when we will redo it' (WTF)
Anyway, so I went on to tell him this all didn't seem super fair to value a prop using data from right before the housing crash and then renege on a previously scheduled re-eval. He seems to empathize and agrees with me and tells me to come in person in March for appeal hearings which apparently can only happen once every year in that one special month in a single room.
I fully intend to show up and argue my case - it could save me $2k/yr in taxes and I don't see how they could possibly reappraise the prop higher than it is now!
What do you guys think about this? Anyone succeeded with such an appeal? Anyone think I'm stupid for stirring up a den of professional bureaucrats?