Polk County Appraisal District is responsible for accurately valuing the houses in Polk County. Overall, the average, or an ideal fair market value, should be extremely close to 100%. This is also called the median. The median is what defines the middle value. In real estate, this value is what the other market values compare to. The houses might be above or below the median market value. In 2020, the median assessed value from the Polk County Appraisal District for houses in Polk County was 85%. This was based on a ratio study of 832 house sales prepared by O’Connor in 2019 and 2020.
Is that 100%? Close, but not extremely close.
Most Houses are Not Valued Accurately in Polk County
Check this out.
Out of a study of the 832 houses, many houses were far above and below the median value that they are supposed to be at. Here are some facts that were pulled from this study.
- 583 houses were assessed below 100% (that is over 70.7%)
- 29.9% of houses were assessed above 100% (that is 249 houses)
Of the 832 houses above market value:
- 166 houses (19.9%) were more than 110% of market value
- 124 houses (14.9%) were above 120%
- 94 houses (11.2%) were assessed at more than 130% of market value
In other words, 11.2% of the houses assessed by the Polk County Appraisal District were valued at 30% MORE than what they should be.
This means that you might have one of the houses in that 11.2% that could be paying more property tax than you need to be.
How Can You Make Sure You Are Not Overtaxed?
Polk County property owners are strongly encouraged to reduce their property taxes by appealing property taxes annually. There is no cost to file a protest with the Polk County Appraisal District. The normal protest deadline is May 15th.
There are many advantages to appealing property taxes including:
- Reducing your property taxes about 60 to 70% of the time
- Obtaining the Polk County Appraisal District hearing evidence file to determine if your property is accurately described
- Staying current with the true value of your home based on reviewing comparable sales in the Polk County Appraisal District evidence package.
No Risk Option for Tax Appeals; Pay Only for Results
Lucky for you, O’Connor can protest your property taxes without any upfront fee or cost. The only fee is a part of the savings in the years we successfully protest your property taxes. O’Connor is the largest property tax consultant in the U.S. We have been helping the owners of over 205,000 properties reduce their annual property taxes.
Are you someone who is overpaying? “Residential property tax appeals with no upfront fees or costs, Click here”
For information on the property taxes savings generated by tax appeals of Polk County appraisal District valuations,“Polk County Appraisal Districts facts and figures, click here”