News media stories have indicated that nearly all taxpayers who contest their assessment get a substantial reduction in value that significantly reduces their tax. Is that true?
Not usually. In many cases, there is no basis for a value adjustment. Many of the value changes which are made during appeal period reflect minor corrections in property inventories, which generally do not cause major value changes. As for taxes, an example of a $1,000 reduction in actual value of an improved residential property would reduce a tax bill by around $6.00 to $8.00 depending on the mill levy.
