I received my property tax evaluation for a rental house that i have had for 5 years and find that it went up almost 35% in this market. The evaluation has been the same since i bought the house back in '04 (for $37,000) at $35,630. I went through and put new paint and carpet in it when i bought it and have rented it out since. Every year i get my evaluation and it has stayed the same. This year i get my evaluation for $47,930. I could see an increase in value of a $1,000 or $2,000, but in this market how can they raise it almost 35% ? It would probably appraise for around $50,000 so i cant use an appraisal to fight the evaluation.
What is the best way to appeal this and be successful?