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Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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Last week I received a letter from the town of Shelburne,

Customer Question

Last week I received a letter from the town of Shelburne, Vt. stating that the "value of my home" went from $117,000 to $89,000. I have a home through the Champlain Housing Trust which is a shared equity organization. I bought my home in '92 for $88,000. It was appraised at higher than that but because of shared equity and the fact that I meet their income requirements I got it for much less. In 2010 I had to refinance to live on because I was ill and not working. At that time it was appraised at $224,000. The letter from the assessors office stated "value" not appraisal and although the decrease may also decrease my taxes, if I want to sell my home to get a smaller one to retire in, I will end up with nothing. Can you explain a new State law in VT starting in January of 2015 that addresses this? Thank you. If I want to appeal I have to request in writing by this Friday. They don't give us much time.
Submitted: 2 years ago.
Category: Real Estate Law
Expert:  Law Educator, Esq. replied 2 years ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

Are you talking about the VT 2015 Property Tax Adjustment Bill, which allows you to adjust your appraisal downward? Which law are you referring to?
Customer: replied 2 years ago.

I think that's the one. Is there more than one?

Expert:  Law Educator, Esq. replied 2 years ago.
I asked because that only allows you to petition to decrease your property assessment not raise it up and I was wondering because it would not help you if you want to increase your assessment. Also, your tax assessed value is not necessarily your actual property assessed value, even though the tax assessors claim they try to get as close as possible to the actual value of your home.

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