Property Tax Valuation Appeal Results Anticipated
August 31, 2022
The Association’s Tax Attorney With The Law Offices of Terrence Kennedy, Jr. Has Confirmed They Received Appeal Results From The Board Of Review
Their team is reviewing the results and preparing a unit by unit analysis for us. In the meantime, they reported overall the appeal succeeded in reducing the total assessments on the Association’s residential units by approximately 4.6% from $10,439,338 down to $9,954,360. THAT DOES NOT MEAN your property taxes will go down 4.6%. This is only relative to the assessed valuation which is one factor of several that determine the total due. However, it does mean it should be less than it otherwise would have been.
Sadly, they did report they were unable to reduce the assessments on the commercial units, as none of the appraisers their team consulted were able to confirm values that would indicates a lower market value than the Assessor’s value. They are examining what options are available for these units.
We are waiting the full report from the attorney, and will post more when we have an update.
About the Author: Tim Patricio
Park Tower Horizons
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