We finally have all the data for assessment results from the Assessor and Board of Review (BOR) from the 2022 North-Tri. Our tax study this year included 176 files with a total proposed assessment of $245,931,226. The average proposed value for each property was $1,315,772 and the mean was $869,912.
True to form, the Assessor was much less likely to grant attorneys any relief on property appeals than the BOR. In our study, we found that the Assessor granted some type of relief 50% of the time. For attorneys that also took the file to the BOR, however, the overall success rate was 95%. This does not mean the reductions were always large, just that the clients got some type of relief. No changes are never popular with the clients, so it’s encouraging that virtually everyone enjoys at least some level of success.