The Best Evidence to Appeal your Louisiana Property Tax Assessment

Types of Documentation to Support Your Property Tax Assessment Appeal in Louisiana

Are you considering appealing your Louisiana property tax assessment?

Now is the time! The Open Rolls period is well under way in Orleans Parish and will start soon throughout Louisiana.  

Maybe you know that your property is being overvalued by the assessor, but you’re not sure what kind of evidence you should include in your appeal?

Below, we discuss the types of evidence that can best support your Louisiana property tax assessment appeal and how you can plead your case for a lower property valuation.

·     Appraisal

If you happen to have a recent appraisal of your property, this may be the strongest evidence of property value. However, appraisals can be expensive if you don’t have one on hand. It is certainly possible to successfully appeal your property valuation without paying for an independent appraisal. Read on for other types of evidence that may help support your appeal.

·     Evidence of Property Condition Issues

Is your commercial building in need of repairs before you can find a new tenant? Does your residential property have storm damage? The assessor hasn’t fully inspected your property, so they likely won’t be aware of any condition problems that aren’t visible from the street. This means that, if your home has documented damage or requires major repairs, you can include evidence of these condition issues in your appeal. Any documentation showing items needing repair may be helpful. How can you document this? Home inspection reports (such as those done for due diligence purposes prior to a sale), contractor repair estimates, or even just your own photos and written damage descriptions can be helpful to provide a truer picture of your property’s condition and value.

·     Evidence of Acquisition Cost

Did you purchase this property within the past few years? If the price you recently purchased the property for is less than the current assessed value, you may want to include evidence documenting purchase price. If the recorded sale value does not accurately reflect the amount paid for the land and improvements (e.g., if the sale included furniture or business opportunities that inflated the price), you should include this information in the appeal.

·     Evidence of (Lack of) Rental Income

If your property is a rental, and you have vacancy, evidence of this vacancy or decreased rent may be helpful in your appeal.

·     Evidence of Increased Insurance Costs

If you have experienced large increases in your insurance costs, evidence of these increases may support your request for a lower property valuation. This is because rapidly increasing insurance costs can impact the real estate market and dampen a buyer’s purchasing power.

·     Comparable Sales

Are there recently sold homes or properties in your neighborhood that are similar to yours? Sales data from similar, recently sold properties can be compelling evidence that your property assessment is too high and should be lower. If you are using comps as a portion of your evidence, try to select properties that are truly similar:

o  square footage

o  bed and bath counts

o  condition

o  lot size

o  amenities (off-street parking, swimming pool, etc.)

o  location

The more similar a property is to yours, the more compelling a lower sale price is as evidence for your lower valuation.

Still not sure where to start? Or looking for in-person advocacy? The Stow Firm offers comprehensive property tax appeal services for a low, flat-fee. For more information, visit our website for more information.