3 min read

Big Data: A Game Changer for Property Tax Appeals

By Stephen Wicks

graphs and charts on blue background to represent big data used for property tax appeals

Appealing assessments is critical for reducing your (or your client’s) tax liability and delivering the cost-savings that your bottom line depends on. However, with so many factors at play, it can take a lot of time to perform the research and develop the equity comps needed for a strong appeal. And because the property tax industry is traditionally paper based, it can be difficult to access the “big data” that supports meaningful analysis.  But it’s 2020, and technology has finally caught up with the property tax world.

 

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WHAT CAN BIG DATA MEAN FOR PROPERTY TAX APPEALS?

We’ve all heard of big data—the large datasets that promise to open the door to a new universe of analytics and business impact. So, imagine if you could run analysis on a county’s full assessment and tax rolls—or even every assessment and tax roll in the state…You could easily compare your properties year over year and make comparisons to similar properties as you build equity comps and strengthen an appeal.

 

Access to full datasets allows you to run any query you want to create a strategic argument for lowering a property’s assessed value. The possibilities are endless. You could:

  • Query a list of all jurisdictions that are billing a specific parcel.
  • Analyze assessed values by owner, use code, zip code, or neighborhood.
  • Even compare your retail store to a nearby gas station if you wanted to!

 

HOW CAN YOU ACCESS BIG DATA?

Because assessment and tax rolls are public record, this information is out there. But the challenge has been to make the information usable. It’s no secret that every jurisdiction has their own way of doing things, with unique naming mechanisms and data formats. For a single person (or even a full tax team), the time required to review and process data across jurisdictions can be overwhelming. That’s where technology comes into play. 

 

We’ve developed technology that not only digitizes preliminary and certified assessment rolls but also standardizes the data across jurisdictions through automation. The result: digital files with all assessed values for a given county in one format. What does that mean for you?

  • No more legwork to track down data
  • Less time spent manipulating that data into a usable format
  • Available resources to develop robust analysis that delivers better results and helps increase your chances of successful property tax appeals

 

OUR SOLUTION: TAXVIEW™

Through a TaxView subscription, you choose the counties, and we deliver the full assessment and tax rolls. Then, you have the freedom to use the data however you want, for any type of analysis. If you’re ready to learn more about how you can strengthen your appeal arguments with TaxView datasets, let us know. Assessment notices are starting to come out across the country, and we’re here to help.

 

LET US KNOW WHICH COUNTIES YOU NEED

 

Tags: Tax Technology & Data

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