Build a strong case for your property tax appeals
Understanding Comparable Properties
In property tax appeals, "comparable properties" (or "comps") are recently sold properties that closely resemble the property being appealed. These comps serve as benchmarks to determine if your property's assessed value is fair and accurate.
Why Good Comps Matter
Selecting the right comps is crucial for a successful appeal. They provide concrete evidence of market value, helping to demonstrate if your property is overassessed. Strong comps can significantly strengthen your case, potentially leading to substantial tax savings.
Key Elements of a Good Comp
When searching for comparable properties, here are some examples of essential factors:
Location: Ideally within the same neighborhood or very nearby areas.
Property Type: Compare condos to condos, houses to houses.
Size: Square footage should be similar to your property.
Age: Built around the same time as your property.
Bedrooms and Bathrooms: Should closely match your property.
Amenities: Similar features like parking, views, and building amenities.
Condition: Comparable levels of updating or renovation.
Sale Date: Sales within the required window, as close to valuation date as possible.
Sale Type: Arms-length transactions (not foreclosures or short sales).
Views: Especially important in cities.
Floor Level: For high-rise condos, compare units on similar floors.
How Our AI-Powered Tool Helps
Our advanced AI system analyzes vast amounts of property data to find the most relevant comps based on these key elements. It considers multiple factors simultaneously, weighing their importance to provide you with the strongest possible comparables for your appeal.
By leveraging AI technology, we help you build a compelling case with less effort, increasing your chances of a successful property tax appeal and potential savings.
Ready to find the best comps for your property? Start your search now and take the first step towards a fair property assessment!
