You Think It’s Worth What?

This week, the Maricopa County Assessor’s Office will be sending out their 2010 valuation notice statements to owners of commercial, residential and vacant property. The valuations in these statements will be used to calculate future tax bills from applicable governmental authorities.

While these statements are for 2010, property owners will have only 60 days following receipt of these new statements to appeal the property values determined by the Assessor’s Office based on their own calculations. Now, more than ever, this process takes on added importance, as we have been all watching the decline in real estate prices across the market. Whether you are an owner of residential, commercial or vacant property or a tenant under a commercial lease responsible for payment of property taxes, there is a good chance that nobody knows your property better value than you. If, upon receipt of your valuation statement, you suspect that the stated value does not represent the amount for which you could sell the property today, it is important to act now so that the appeal process is timely commenced.

We help businesses and individuals make the right strategic decisions in connection with the property valuation appeal process.  Visit www.steinlawplc.com.

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One thought on “You Think It’s Worth What?

  1. Scott,

    The change of title dictates real estate pricing.

    The solution to the downward pressure on the valuation is to purchase underlying notes instead of letting properties go to foreclosure, short sale or deed in lieu.

    Here is the idea in plain vanilla terms: http://www.bankfreeinvesting.com/blog/?p=270

    The immediately practical solution is to force/entice/risk-assure banks to lend to real estate investors against the discounted purchases of the underlying notes.

    If the investor screws up, the banks have to be protected from the loss. This can immediately take a good number of foreclosures off the market.

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