Using Comparable Sales (“Comps”) to Challenge Your Assessment

Using Comparable Sales (“Comps”) to Challenge Your Assessment gives you a clear, step-by-step way to understand what drives your bill, what to verify on your notice, and what to do if the numbers look off.

Comparables – homes like yours that have recently sold – are the heart of a strong property tax appeal. They show the board what the market really values in your neighborhood. Here’s how to use comps effectively:

• Find Truly Similar Properties: Look for homes of the same size, age, style and condition as yours.

Focus on those in your vicinity, especially the same subdivision or block. A rancher should be compared to other ranchers, not multi-story homes. Ideally, choose sold listings within the last 6–12 months (to match the current market, not last year’s bubble). Avoid picking distant or very different properties – appeal boards will throw those out.

• Gather Multiple Examples: Don’t rely on a single sale. Aim for 3–5 comparables. The more evidence,

the stronger your case. Each comp provides additional data points (sales price, $/sqft, assessed value). Look at county records or MLS databases; many assessors’ offices publish comparable assessments online.

• Adjust for Differences: Rarely are homes 100% identical. If your chosen comp has a significant

difference (extra bathroom, bigger lot, newer roof), make note of it. For example, if your home is 2,000 sq ft and a comp is 2,200 sq ft, the board expects that should cost more. In your appeal write- up, either choose closer matches or explain why differences favor you. Some advanced appeals even use professional appraisers to adjust values, but at a minimum mention obvious features.

• Use Recent Sale Prices: The sales price is key. Recent local sales often better reflect value than

assessments or online “zillow” estimates. Check trusted sites (Zillow, Realtor.com, Redfin) or even local real estate listings to find final sale prices. Because Kiplinger suggests, these should be after your last assessed value change 15 , so they accurately capture any market shift.

• Document with Sources: Include copies of the actual sale records if possible (county deed records,

or printouts from a real estate site). Cite addresses, sale dates and prices. If you download data from a tax database, keep a copy or screenshot. Present this neatly: e.g. a table listing each comp’s details. The idea is the appeals board sees you did serious research, not just Googled one example.

• Illustrative Example: Suppose two homes nearly identical to yours sold recently for $300,000, but

your assessed value is $350,000. In your appeal, you’d say: “My property was assessed at $350K, but comparable nearby sales (123 Maple Street, 125 Oak Avenue) show market values closer to $300K for similar homes on the same block.” Provide the sales docs. This quantitative comparison “trumps” a vague opinion. 10

• Professional Appraisal (Optional): If your case is borderline, consider a licensed appraisal. An

official appraisal report can serve as a powerful comp, as consultants often do. It costs a few hundred dollars but can be decisive (especially for high-value homes or for attracting board attention). Only do this if the potential tax savings justify the expense.

• Comp Checklist: ProptaxHelper offers a comps analysis tool that automatically finds similar sales

and calculates a suggested assessment range. Use it as a starting point. However, always double- check those results and supplement with your own research. And remember, persuasively presenting the comps is key – bullet lists, charts or side-by-side photos can help make your point clear. In summary, comparable sales are your strongest evidence. They answer the board’s main question: “What would a willing buyer pay for this house?” If the answer (market value) is lower than your assessed value, your case is solid. As Investopedia advises, reviewing “comparable homes in the area” is a vital audit that “may lower your taxes”. Use recent, relevant comps to show your assessment is too high – a data-driven

approach that most boards respect. And if you ever need assistance compiling or interpreting comps, ProptaxHelper’s free reports can guide you through it. With the right comparables on your side, you’ll enter the appeal process confident that the numbers support your claim for a tax reduction.

Next steps

• Use the Property Tax Estimator to sanity-check your bill.
• If something looks off, run a quick Appeal Savings scenario.
• Scan the Articles list for related topics like exemptions, deadlines, and escrow planning.