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For example, if a comparable sale has four bedrooms and your home has three bedrooms, make a downward adjustment to the sales price to the comparable sale to bring it down to the level of [...] However, if the sum of land and construction cost is less than the appraisal district’s initial assessed value, providing this information at the hearing will likely generate a reduction in your assessed value and property taxes. Comparable sales data is given strong consideration in property tax hearings for houses, land and owner-occupied commercial buildings.Income ApproachThe income approach is typically used for income properties.
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