A 2013 study shows those who protest their own property taxes do surprisingly well. The study concludes that residential owners secured average reductions 41% larger than those who hired out the job. The reasoning for the surprising results is open to debate:
- Some say property owners “know” their property better than anyone else, therefore can better explain all the factors involved.
- Others that it’s simply more difficult to deny an individual arguing on their own behalf.
- Still, the argument can be made that it’s not a fair comparison since hired professionals often protest the valuations of the same properties year-over-year – even if their values did not increase.
Despite what you may ascertain from the study, it’s clear that the results should give property owners confidence to participate in the property tax appeal process.