If you believe the valuation of your property is inaccurate, you have the right to contest it. Here are the key steps for disputing a property valuation:
Review the Valuation Report
Carefully review the property valuation report provided by the valuer or assessor’s office. Make note of any information you believe is inaccurate or missing. This may include:
- Square footage
- Number of bedrooms/bathrooms
- Property condition
- Comparable property sales
- Valuation approach and methodology
Having a clear understanding of how the valuation was determined and where you see errors is important for presenting your case.
Contact the Valuer
Reach out to the valuer or appraiser who conducted the valuation. Politely explain what you believe is inaccurate and provide any evidence you have, such as comparable recent sales data for similar properties in your neighbourhood.
See if the valuer is willing to reconsider their valuation based on the information you provide. Keep the conversation professional and focus on facts rather than emotions.
Submit a Written Complaint
If the original valuer won’t revise their valuation, submit a formal written complaint to the relevant valuation review board or appeals body. Outline specifically what you are disputing in the valuation and your evidence.
Follow up to ensure your complaint was received. Ask about the timeline for review and any other steps in the appeals process.
Attend the Appeal Hearing
If your case goes to an appeal hearing, come fully prepared to present your reasoning and evidence. Bring documents, comparable sales data, photos, or other information supporting your claim.
Listen carefully and remain calm and respectful as the valuers present their perspective. The board will ultimately make a ruling based on the evidence.
Accept the Final Determination
If the board rejects your appeal and upholds the original valuation, you may have to accept the decision even if you disagree. In some cases, further legal action may be an option if the process was flawed.
Staying engaged throughout the process and establishing clear documentation creates the best chance of a successful appeal. With a professional approach, many disputed valuations can be amended.
