Hi,
We bought our house for $320,000 last year around this time and the appraisal came back at the same number. Assessed value was around $282k, appraised was $309k. Fast forward to now and our assessed value went up to $326k(14%), appraisal matches assessed, as we apparently aren't eligible for the 10% HS cap the first year.
Our neighbor has essentially the same floor plan in similar condition and they are sitting at $305k assessed value... so I protested and asked for $300k using a few other less comparable comps plus our neighbor. They countered at $320k which is what we paid last year. This still seems high to me out of principle given the neighbors value.
If I reject this... can I counter or will they typically go straight for a hearing? I feel like I have little bargaining power since it appraised at what they offered. Would you take this?
We bought our house for $320,000 last year around this time and the appraisal came back at the same number. Assessed value was around $282k, appraised was $309k. Fast forward to now and our assessed value went up to $326k(14%), appraisal matches assessed, as we apparently aren't eligible for the 10% HS cap the first year.
Our neighbor has essentially the same floor plan in similar condition and they are sitting at $305k assessed value... so I protested and asked for $300k using a few other less comparable comps plus our neighbor. They countered at $320k which is what we paid last year. This still seems high to me out of principle given the neighbors value.
If I reject this... can I counter or will they typically go straight for a hearing? I feel like I have little bargaining power since it appraised at what they offered. Would you take this?