Appealing County Assesed value

**Fireman** · 07-19-2023, 03:32 PM

First time land owner here, so just a question. I purchased 4 acres in Charleston County last year. The county just sent me a letter telling me they re-assed the property and its assed value is now more than double what it was when purchased. So this in turn will make my taxes go up. I noticed that it has a section to appeal so my question is would it be worth it, or am I just stuck?

Its vacant land, with plans to have a house built on and breaking ground this fall. I know the assed value will raise again once the "improvements" are made, but its hard for me to believe they increased it 103% with 0 improvements made since I purchased it. I understand that the market is stupid and property has been selling at an all time high, but 103% seems like a stretch to me.

**BigBrother** · 07-19-2023, 03:36 PM

Taxation is theft.

**Smilee** · 07-19-2023, 03:36 PM

Going to be bad this year as property values have soared with comp prices.

**Smilee** · 07-19-2023, 03:37 PM

And the counties losing tax revenue against ag buildings.

**Palmetto Pride** · 07-19-2023, 03:44 PM

APPEAL asap. Provide comps and purchase date. It’s ridiculous

**ShortMagFan** · 07-19-2023, 03:47 PM

What is the assessed value relative to what you paid for the property?

If I’m reading what you typed correctly, they are double the assessed value of the land when you purchased it. I’d be willing to bet the assessed value when you purchased was much lower than what you paid

Unless I’m reading your questions wrong

**DRDUCK** · 07-19-2023, 03:48 PM

Just got my Home insurance bill for next year and due to BIDEN inflation it went up over 600 from last year.

**Palmetto Bug** · 07-19-2023, 04:54 PM

Find a friendly real estate agent with access to MLS and get him/her to pull comps of recent similar sized land purchases in the area. Make sure they are arm's length deals (not family deals or extenuating circumstances, etc.) and bring them with you to visit the assessor's office. Before you go, ask the assessor to provide the comps they used to make their assessment.

Often, they'll use ridiculous comps to justify their curbside appraisal value of your property because they don't expect you to fight back. Most folks don't and just take the hit. I had some property reassessed and one of the parcels they used in their justification was a plot under a powerline right of way that the power company overpaid for because of its proximity to their lines. Another was bought for sand mining, which was not comparable use. You can't mine where it's convenient. You have to mine where the specific soil/minerals exist and pay whatever the owner wants, not necessarily normal market value.

I have long asserted that reassessment is a bogus and unfair concept. Tax value should be based on the last purchase price. That is the only real measure of value, what somebody was willing to pay for it. You shouldn't have to pay higher taxes because yankees moved in and built expensive houses nearby. If a family wants to stay in their house and live in it until they die, their tax bill shouldn't keep going up and run them out. Once it gets sold, the new assessment goes up and is based on true market value, not the value of the McMansion that was built next door. The millage rate could be adjusted to compensate for times when the area stabilizes and property stays in the same ownership for a long time. Reassessment is bullshit.

**Sasha and Abby** · 07-19-2023, 05:38 PM

You can pull comps yourself
on mls/zillow

**wskinner** · 07-19-2023, 05:42 PM

Originally Posted by Sasha and Abby

You can pull comps yourself
on mls/zillow

This

**justpracticin** · 07-19-2023, 05:51 PM

Is the assessed value out of line with what you paid for it? If it is close, you are facing an uphill battle.

**JABIII** · 07-19-2023, 06:13 PM

Don’t title a new boat in Colleton County is all the advice I have. Walterboro looks at the beach like buzzards look at a crippled hog…

**bitesize** · 07-19-2023, 06:26 PM

Originally Posted by justpracticin

Is the assessed value out of line with what you paid for it? If it is close, you are facing an uphill battle.

This

**Fireman** · 07-19-2023, 06:28 PM

Originally Posted by ShortMagFan

What is the assessed value relative to what you paid for the property?

If Iâ€™m reading what you typed correctly, they are double the assessed value of the land when you purchased it. Iâ€™d be willing to bet the assessed value when you purchased was much lower than what you paid

Unless Iâ€™m reading your questions wrong

I paid exactly County assessed value for it. Not a penny more.

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**Fireman** · 07-19-2023, 06:44 PM

Originally Posted by justpracticin

Is the assessed value out of line with what you paid for it? If it is close, you are facing an uphill battle.

I paid exactly County assessed value when I bought it in 2022. Exactly 103%less than the new asses value.

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**ShortMagFan** · 07-19-2023, 07:03 PM

Originally Posted by Fireman

I paid exactly County assessed value for it. Not a penny more.

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Gotcha, yeah that sounds like a bunch of BS. No better comp for a piece of property than what the actual property traded for in an arms length transaction

**Fireman** · 07-19-2023, 07:22 PM

The neighboring property sold at the same time, but only $10k more than what I paid. So maybe I got a chance here.

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**cajunwannabe** · 07-19-2023, 09:15 PM

Originally Posted by Fireman

The neighboring property sold at the same time, but only $10k more than what I paid. So maybe I got a chance here.

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If you paid assessed value and the neighboring property sold for close to it's assessed value that's not "market value". I'd bet the sale triggered them to reassess your property for what was considered fair market value (FMV) Taxes suck and assessors suck too. Fight them out of principle alone.