- Moderator
- #1
Offline
I recently acquired a small home.
Yesterday I got a letter from the Tax Assessor's office that stated that the law says they have to conduct a study to test the assessment performance of our county. Its called a Sales Ratio Study and compares the actual sales price with the county assessment. They need me to answer some questions so they can qualify the sale as a fair market transaction".
The letter goes on to say that the answers will be used to determine if the sale can be used in the study and is for statistical use only.
It has a section detailing the names and addresses of the parties involved and details identifying the property.
It then asks about purchase price, buildings on the property, did appliances or personal property carry over, estimated value of the residence, were buyer and seller related and primary use of the property.
So the question is, have any of you ever heard of this? Do I have to furnish this information? Should I?
Yesterday I got a letter from the Tax Assessor's office that stated that the law says they have to conduct a study to test the assessment performance of our county. Its called a Sales Ratio Study and compares the actual sales price with the county assessment. They need me to answer some questions so they can qualify the sale as a fair market transaction".
The letter goes on to say that the answers will be used to determine if the sale can be used in the study and is for statistical use only.
It has a section detailing the names and addresses of the parties involved and details identifying the property.
It then asks about purchase price, buildings on the property, did appliances or personal property carry over, estimated value of the residence, were buyer and seller related and primary use of the property.
So the question is, have any of you ever heard of this? Do I have to furnish this information? Should I?
