Tax Day: Deadline to Appeal Appraisal

Posted by John Branston on Thu, Jun 30, 2011 at 10:17 AM

Cheyenne Johnson, assessor
  • Cheyenne Johnson, assessor
Today, June 30th, is the second most important tax day of the year.

This is the last day to appeal your 2011 property appraisal and tax assessment to the Shelby County Board of Equalization. A successful appeal, resulting in a reduction of your appraisal, could get you more money than an IRS income tax refund.

The forms to serve notice that you intend to appeal can be picked up at the board's office on Mullins Station Road north of the Shelby County Penal Farm.

With a stagnant real estate market and plunging home values, you have nothing to lose. Your assessment, of course, determines both your city and county taxes.

Comments (3)

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Good warning, John, but almost too late. It would have been more timely a month ago, when the Assessor's office was still doing "informal" reviews that gave homeowners another bite at that apple.

Not only could an appeal get you more money than an IRS refund, it could more than offset the recent 18 cent property tax increase.

But, lest you think the powers that be take the realities of the current real estate market into account, guess again: the most powerful downward influence in the value of real estate, foreclosures, is NOT taken into account in deciding the accuracy of appraisals because it is not considered a normal market condition. So, if you live in a neighborhood afflicted by an epidemic of foreclosures (as many in Memphis have been), you cannot use that as any part of the basis to challenge your assessment.

That's a little like saying that during the yellow fever epidemic in Memphis, the mortality rate couldn't take deaths caused by that scourge into account because it wasn't a "normal health condition."

The Assessor's office screwed all of us property owners with its reassessment a couple years ago. Realizing which way the market was heading, it artificially inflated assessments so that the impact of imminently reduced tax collections would be softened. As a result, many of us suffered HUGE (read: unfair) tax increases.

If you didn't appeal your assessment then, you'd better do it now.

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Posted by M_Awesomeberg on 06/30/2011 at 12:31 PM

MA: Better late than never. Just realized it myself. Sad but true about the foreclosures.

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Posted by John Branston on 06/30/2011 at 1:04 PM

Too late for me. Just saw it and its already past 3pm. Why did they wait till the last second to warn us? My house is appraised at double ts worth.
Billious

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Posted by BillyClanton on 06/30/2011 at 2:40 PM
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