Appealing Property Taxes: Why Investors Should Delegate This Task Out

by Aaron Kinney

All of us are busy and could probably list a handful of items that we should delegate in our real estate businesses.

If you haven’t appealed your property taxes before, you need to do it (at least once so you know and understand the process), and if you’re still appealing your taxes, you should consider delegating this task.

In appealing taxes, there tends to be 3 main steps: filing the appeal with the tax assessor’s office, collecting comps, and meeting with an appraiser.

The Property Tax Appeal Process

Filing the Appeal

In my area, I can email one of the appraisers at the tax assessor’s office with some brief information about my appeal and if the property is within his district, he will file the appeal. If the property isn’t in his district, he’ll help me get in contact with the appraiser I need to talk to. So with one or two emails, my appeal is filed.

In other areas, a paper version of the appeal needs to be mailed or faxed in. Typically it’s just basic property information as well as a brief space as to why you think the property is overvalued.

Once the appeal has been filed, you should receive a time and date where you can meet face-to-face with the appraiser.

Collecting Comps

If you have access to the MLS, this makes it pretty easy to collect comparable sales to justify the value that you think your property should be at. If you don’t, you can use real estate websites like Zillow and Trulia (not as thorough as the MLS) or your local county’s online search (more time-consuming).

Meeting With the Appraiser

This is normally a quick meeting that involves simply handing over the comps that you’ve collected and answering a few questions about the property, specifically its condition. I don’t recommend lying, but it seems to work best if you can emphasize the weak points of the property, such as how long the property sat on the market before you bought it due to deferred maintenance or how the neighbors next door haven’t taken care of their home.

The appraiser will then take your comps and verbal evidence into consideration and mail you a letter a few weeks later with an updated value of the home.

I’ve found that just by showing up and being prepared, the appraiser will lower the property’s value the majority of the time.

Delegating

I still handle the filing of the appeal, but delegate the collecting of the comps, as well as meeting with the appraiser to the real estate agent I work with. He’s had many years of experience in appealing property taxes. Also, his office is a short walk to the tax assessor’s office so in less than an hour, he can collect comps and meet with the appraiser.

I try to arrange as many property appeals as I can at one time so that he can appeal a bunch of a properties in one trip.

Our agreement is that we will split the tax savings for the first year 50:50. So if he’s able to convince the appraiser to lower one property’s tax by $400, I would pay the real estate agent $200 and have a cash flow gain of $200 for that year as well as a tax savings for future years. So any decrease in property tax is a large cash flow gain for the investor.

When I was working full time, I would have had difficulty leaving work to appeal property taxes. I no longer work full time, but it still doesn’t seem worth it for me to do this task, as my real estate agent can do a much better job than I can, and I have more time to find more properties to buy as well as to find money to fund those purchases.

If you don’t have anybody in mind to help you appeal taxes, start calling local real estate agents and independent real estate appraisers and see if you can find somebody who has experience and who would be willing to work with you.  You can also try CPAs and attorneys who will handle these services as well.

I didn’t go into a lot of detail of the actual how-to process of appealing property taxes so be sure to check out other great articles on BP like this one from Kevin Perk.

Do you delegate your property tax appeals?

Don’t forget to leave a comment below! 

Interested in Finding out More? Reach out below

Shawn Ireland

Phone: 913-225-6231

Email: Ireland_Investments@yahoo.com

Address: 1415 Main St. #823, Grandview, MO 64030


Website: www.irelandinvestmentsllc.com/

Facebook: @IrelandInvestmentsLLC/

Instagram: @irelandinvestmentsllc

Twitter: @IrelandLlc

Tumblr: ireland-investments.tumblr.com/


Ireland Investments llc

This information is intended only for the use of the intended recipient(s) and it may be privileged and confidential. Please note that any views or opinions presented in this post are solely those of the author and do not necessarily represent those of the company. This is reposted information and is not original thought of Ireland Investments or anyone associated with the business.

Popular areas we service;


Kansas city Missouri, Overland Park Kansas, Kansas city Kansas, Olathe Kansas, Independence Missouri, Shawnee Kansas, Blue Springs Missouri, Lenexa Kansas, Leavenworth, Kansas, Leawood Kansas, Liberty Missouri, Raytown Missouri, Gladstone Missouri, Grandview Missouri, Belton Missouri, Prairie Village Kansas, Gardner Kansas, Raymore Missouri, Grain Valley Missouri, Ottawa, Kansas, Lansing Kansas, Excelsior Springs Missouri, Merriam Kansas, Harrisonville Missouri, Cameron Missouri, Mission Kansas, Kearney Missouri, Smithville Missouri, Pleasant Hill Missouri, Oak Grove Missouri, Bonner Springs Kansas, Roeland Park Kansas, Parkville Missouri, De Soto Kansas, Richmond Missouri, Greenwood Missouri, Paola Kansas, Basehor Kansas, Tonganoxie Kansas, Odessa Missouri, Peculiar Missouri, Platte City, Missouri, Higginsville Missouri, Lexington Missouri, Edwardsville Kansas, North Kansas City Missouri, Osawatomie Kansas, Louisburg Kansas, Fairway Kansas, Mission Hills Kansas, Sugar Creek Missouri, Riverside Missouri, Buckner Missouri, Pleasant Valley Missouri, Lawson Missouri, Plattsburg Missouri, Lake Lotawana Missouri, Weatherby Lake Missouri, Wellsville Kansas, Edgerton Kansas, Westwood Kansas, Garden City Missouri, Gower Missouri, Claycomo Missouri, Lone Jack Missouri, Drexel Missouri, Lake Tapawingo Missouri, Glenaire Missouri, Dearborn Missouri, Avondale Missouri, Osborn Missouri, Sibley Missouri, Oaks Missouri, Unity Village Missouri, Levasy Missouri, Randolf Missouri, River Bend Missouri, Jackson County Missouri, Johnson County Kansas, Clay County Missouri, Wyandotte County Kansas, Cass County Missouri, Platte County Missouri, Leavenworth County Kansas, Miami county Kansas, Lafayette County Missouri, Ray County Missouri, Clinton County Missouri, Bates County Missouri, Linn County Kansas, Caldwell County Missouri, Crossroads Real estate, 18th and vine Real estate, Hospital Hill real estate, library district real estate, longfellow real estate, dutch hill real estate, quality hill real estate, river market real estate union hill real estate, Greater downtown KCMO real estate, East Side KCMO real estate, Midtown KCMO real estate, Westport Real estate, Hyde Park real estate, Northeast KCMO real estate, Northland real estate, Plaza Real estate, South Kansas City Real estate, Fairway Kansas real estate, Kansas city Kansas real estate, Lake Quivira Kansas real estate, Lenexa Kansas real estate, Mission hills Kansas real estate, overland park Kansas real estate, prairie village Kansas real estate, Shawnee Kansas real estate, weatherby lake Missouri real estate, westwood Kansas real estate

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

WordPress.com.

Up ↑

%d bloggers like this: