I just got my reassessment letter for my place in Maine. First I am horrified as it is quadrupel what I think it should be. Now I am trying to figure out how to fight it and I only have one week to get an appointment.
I have two lots that are almost identical and side by side of one another 1.38 acres each. One I purchased 6 years ago for 32K and the other I had an option for 32K and purchased last year. The land on the side of me sold for 40K about 5 years ago at the peak of the market. The two pieces of property were just assessed at 133,530 with 13K in exceptions for one and 126,440 for the other. First I am totally confused because one of the lots has a house under construction on it and is actually probably valued close to replacement value but market would be way lower. So my questions are as fallows:
1) Are they saying that the house is only worth about 7K, or do they split the house value over the two lots?
2) How do I fight this? I only have 7 days to get everything together as I just got the letter yesterday and have to make an appointment for next week hopefully Friday if they have any openings.
Thanks
Jon
I have two lots that are almost identical and side by side of one another 1.38 acres each. One I purchased 6 years ago for 32K and the other I had an option for 32K and purchased last year. The land on the side of me sold for 40K about 5 years ago at the peak of the market. The two pieces of property were just assessed at 133,530 with 13K in exceptions for one and 126,440 for the other. First I am totally confused because one of the lots has a house under construction on it and is actually probably valued close to replacement value but market would be way lower. So my questions are as fallows:
1) Are they saying that the house is only worth about 7K, or do they split the house value over the two lots?
2) How do I fight this? I only have 7 days to get everything together as I just got the letter yesterday and have to make an appointment for next week hopefully Friday if they have any openings.
Thanks
Jon