Using Market Conditions in Your Property Tax Appeal: Proving Market Decline
TL;DR
When the housing market declines, assessments often lag behind. Prove the decline with recent comparable sales at lower prices, declining median values in your zip code, increasing days on market, rising inventory, and price reductions on active listings. The assessment date matters - focus evidence on market conditions as of that specific date. A declining market is one of the strongest grounds for appeal because the data is objective and hard to dispute.
Types of Market Condition Evidence
| Evidence Type | Where to Find It | Weight |
|---|---|---|
| Recent comparable sales at lower prices | County records, Zillow, Redfin | Strongest |
| Declining median prices (zip/county) | Redfin, Zillow, local MLS reports | Strong |
| Increasing days on market | MLS data, real estate agent | Moderate |
| Rising inventory/months of supply | MLS data, Redfin | Moderate |
| Price reductions on active listings | Zillow, Redfin (filter by price cuts) | Supporting |
| Mortgage rate impact analysis | Freddie Mac, Bankrate | Supporting |
How to Present Market Decline
- Establish the baseline. Show what comparable homes were selling for during the assessment data period.
- Show the decline. Present current or recent sales at lower prices.
- Quantify the drop. Calculate the percentage decline in median prices or comparable sale prices.
- Apply to your property. "If the market declined 8% since the assessment date, my assessed value should be reduced by approximately 8%."
For more on declining market appeals, see our declining market guide.
Get Current Market Data
Our $79 Evidence Packet uses the most recent sales data available, reflecting current market conditions, not lagging assessor data.