Home appraisal - Living space compared to unheated areas

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Old 01-04-19, 09:48 AM
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Home appraisal - Living space compared to unheated areas

My town recently went through a real estate revaluation and it appears to me my home is out of line with comparable homes in the area. I'm attempting to go through an analysis but seem to be having difficulty with the mix of living space versus unheated spaces. (My home has 2,300 square feet of living area and 3,200 of unheated space.)

I recognize that home costs vary by geography but I suspect living space costs and unheated space (garage, basement, porch, deck) costs are comparative irrespective of location. For example, it may be that garage costs are roughly 40% of living space costs no matter where they are built

It would be very helpful if I could get some data on how to determine unheated spaces (garage, attic, basement, porch, deck) based on the value of living space. Again, can someone tell me something like if living space $100, garage $40, attic $30, basement $20, porch $20, deck $10.
 
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Old 01-04-19, 10:07 AM
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I've never heard of unfinished attic space being counted in the sq footage of the house. Locally unattached garage or other structures are taxed differently than the house itself, not sure about attached garage. Your best bet is to sit down with your tax assessor and go over what they are taxing you on and how it breaks down.
 
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Old 01-04-19, 01:19 PM
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I'm with Mark, never heard of someone keeping track this way. What is the end goal you're trying to accomplish?
 
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Old 01-04-19, 03:32 PM
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What does your tax statement say? Mine itemizes out the square footage, what category and the tax rate so it's easy to see how they obtained the number. From that you can determine if their square footage is inaccurate or if they have some space in the wrong category.
 
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Old 01-04-19, 04:12 PM
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I just looked up my property on the township web site.

Living space
Basement
Porch
Garage
Patio
Deck

No attic

Unfortunitly the listed areas are not broken down but the city/township you live in should provide, maybe the tax bill has the breakdown, its all a public info so easy to get!
 
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Old 01-05-19, 06:06 AM
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While our county does have the tax records online it doesn't go into a lot of detail. Basically it gives the appraised land value, improvement value, lot size/acreage and classification [rural, forest, farm, etc] If that info isn't available online where Tony lives he'd have to contact the assessor's office.
 
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Old 01-05-19, 10:45 AM
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Thanks to all for the information. My town went through a revaluation. I compared my home to the other 20 on my road (from online tax assessor data) and by coincidence my home living area is only 2 square feet from the other 20 homes: 2,388 vs 2,386 sqft. However, my home is appraised (without land) at $330,000 vs $293,000 on average for the other 20 so I figure something's up. I have considerably more non-living space (garage, attic, deck, basement, porch): 3,200 sqft. vs 2,600 sqft but since each home is different, I have aggregately more non-living space and also a different mix.


I plan to appeal but want to account for the additional 600 sqft. The revaluation was done by a third party and I missed out on working with them because I was sidetracked during the holidays.


Thanks again for your input.
 
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