House assessment questions
Hi, we just got our new assessment for our house. It is assessed every year. The assessment went up 11,000 dollars this year, when in previous years it has gone up maybe 1000 or not at all. We do not live in a hot area.
I am wondering if we should dispute this. This is going to be difficult for us as there are not many comps in our area. Our taxes are the highest in the country, so 11,000 makes a big difference. Our house is only worth 131 now.
I have no idea how to find comps. Our house is located on a busier street. It is OVER 150 years old. Also it says we need an appraisal and I have no idea how we do this. Do I call up our realitor or do we need an inspector to do the appraisal? These usually are about 200-300 dollars.
Smaller houses down the street from us are selling at around 90, but they are located on a quieter street and some have more land than us.
Then, won't we just have to go do this next year as we are assessed every year? What exactly affects house assessments? The cost of a house in our region has NOT increased this year, so why would my assessment? I called the town and they were not too much help.
This is our first house and we have never had to do this before. I would love advice on this subject.