A property owner in Ada County, Idaho believes the county assessor has overvalued her property and wishes to formally challenge the assessment. Under Idaho's property tax appeal process, all of the following are valid steps or bodies in the appeal process EXCEPT:
Correct Answer
C) Requesting a reassessment directly from the Idaho Real Estate Commission before filing with the Board of Equalization
The Idaho Real Estate Commission (IREC) has no role in the property tax assessment appeal process. IREC regulates real estate licensees under Idaho Code Title 54, Chapter 20. It does not have authority to order reassessments or hear property tax disputes. A property owner cannot and would not contact IREC to challenge a county tax assessment, making this the option that is NOT a valid step in the appeal process.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Homestead portability allows homeowners to transfer a portion of their accumulated homestead tax savings to a new homestead in the same state.
The income approach estimates a property's value based on the income it generates by converting net operating income into a value estimate using a capitalization rate. It is the preferred method for income-producing properties.
Many states have laws to limit how much property taxes can increase each year, regardless of market value fluctuations.
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- → The income approach to appraisal is most commonly used for which type of property?
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- → External obsolescence in Oklahoma:
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- → Which of the following correctly lists the three types of depreciation recognized in real estate appraisal?
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- → Which four tests must a use satisfy to qualify as the highest and best use of a property?
- → Three depreciation:
- → Cap rate:
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