Hamilton County Auditor raises home values by 15%
If you live or own property in Hamilton County, you likely received a letter in the mail stating that your assessed value has changed. On average, assessed property values have increased by 15%. Many homes HAVE actually increased this much in value, however, it is worth a look to see if yours has been inflated.
We just purchased a property 3 weeks ago for $243,000 (that was listed in the MLS) and we just got the letter that said the value is now at $321,000! We have not made any changes to the home and do not plan to anytime in the near future. This type of increase is obviously not correct and we will contest it. We have done this before and if you purchase a property in the past year that they are saying has gone up that much, you will just have to send them your purchase contract and closing statement. From our experience, this type of request is typically approved.
If you did not purchase the home recently and believe that you could not sell your home for the value the auditor has on the reassessment, you should have a professional appraisal done (cost is around $350) and also have your Realtor send you comparable sales as well. Both of those items will be your best proof of value.
Any owner of property in Hamilton County may contest a property value by filing a complaint with the Hamilton County Board of Revision. But owners can only challenge a county auditor’s valuation once in each three-year cycle and they must file between Jan. 1-March 31.
We are always available for any questions about your home value or the process for filing a complaint. If you are not in Hamilton County and have questions, we can help point you in the right directions as well. Reach out to the Finn Team as your local Real Estate Resource!