Real property tax assessments are based on an appraisal by the local taxing jurisdiction. Known as an ad valorem tax (according to value), the appraisal is often the result of subjective opinion as to the construction’s quality, the property’s condition and remaining economic life, and other factors that can lead to significant overvaluations. Nearly all tax-assessment appraisals apply mass techniques that depend on statistical analysis rather than individual appraisal focusing on a property’s characteristics. While mass appraisal aims to valuate real estate consistently, its goal is not to estimate a property exactly. Uzelac’s highly qualified professionals with years of experience as appraisers in local tax jurisdictions review our clients’ real property tax assessments. We are trained to discover assessment errors and recognize overvaluations based on market conditions.

​Uzelac & Associates applies a proven process to valuing real estate. It ensures the most precise figures for correct and fair taxation.

  1. ​Definition of the Problem
  2. Preliminary Analysis and Data Selection and Collection
  3. Highest-And Best-Use Analysis
  4. Land-Value Estimate
  5. Application of the Three Approaches of Value
  6. Reconciliation of Value
  7. Report The Defined Value

Our review of real estate assessments includes:

  • Analyzing the assessor’s data for measurement or calculation errors
  • Comparing the property under review against similar properties as a test of the reasonableness of the assessed value
  • Reviewing the local taxing authority’s methods in developing the assessed value, especially following mass appraisal reassessments or annual trending modifications
  • Estimating the taxable value of the property using all appropriate approaches to value where an overassessment is indicated
  • Filing appropriate tax appeals for properties we determine to be overassessed
  • Negotiating informal reductions with local assessment officials or appearing before local or state appeal boards of review in formal appeal presentations
  • Applying for tax refunds for overpaid taxes from previous years where objective assessment errors are found

Real Estate Property Tax