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Can I appeal property taxes with just one comparable sale?

Basics

There is only one comparable sale for my property tax appeal year, can I still appeal?

Totally doable—even with just one solid comp. Here’s a simple, board-friendly plan that works when sales are scarce.

What to do when you only have 1 qualifying sale

  1. Make sure you truly have only one
    • Widen BEFORE Jan 1 (older sales are allowed). Stay within the same market area and explain any time adjustment.
    • Step out a bit geographically (same schools/zoning/feel). Note why buyers would treat the area as a substitute.
    • Ask the Assessor for their sales list and/or request an exchange of information 30+ days before hearing—their comps become discoverable and admissible.

If you still only have one, proceed:

  1. Build your case around the one comp (and adjust it carefully)
    • Do a full adjustment to that comp: time/market, size (marginal $/sf), lot size (diminishing value), condition, amenities.
    • Show the adjusted $/sf and the adjusted price for that comp very clearly.

Tip: keep every adjustment small, explained, and round. Boards reward reasonableness over precision theater.

  1. Add “secondary” evidence to support your number

These don’t replace comps, but they buttress your one-comp conclusion:

A) Time-adjusted older sales (pre-Jan 1)

- If you found 1–2 older pre-Jan-1 sales that are close but not perfect, time-adjust them to Jan 1 using a simple monthly trend (from a neighborhood price index or paired sales you found).
- Present them as supporting indicators, not as primary comps.

B) Cost approach (quick & clean)

- Replacement cost new: living sf × a conservative local build-cost $/sf (exclude land).
- Less depreciation: straight-line from effective age (e.g., 40/60 life ≈ ~⅔ remaining).
- Add site value: use the county’s existing land/improvement ratio or a simple extraction from your one comp (sale price − depreciated improvement).
- The result should bracket—not exceed—your sales conclusion.

C) Rental cross-check (only if typical as a rental)

- Gather 3 current market rents for similar homes.
- Estimate NOI (rent × 12 − vacancy − simple expenses) and divide by a conservative cap rate to get an income value.
- Present as a sanity check only.
  1. Reconcile to one number (how to present it)

Use your one adjusted comp as the anchor, then show that the supporting indicators (time-adjusted older sales, cost, rent if applicable) all point to roughly the same range. Pick a middle number and round.

Example script (use your numbers):

“Directly comparable sale #1, adjusted for size, lot and condition, indicates $1.58M at the lien date. A pre-January sale adjusted for a 1%/month Q4 decline indicates $1.55M. A conservative cost approach brackets value at $1.50–$1.60M. Reconciling these, my opinion of value on January 1 is $1.56M.”

  1. If truly nothing else exists
    • Explain scarcity (few listings, seasonal pause, new tract).
    • Ask the board to weigh your single, well-supported comp most heavily and treat the secondary indicators as corroboration.
    • If the Assessor brings late comps, ask for a brief continuance to analyze them.
  1. What to include in your packet
    • One-page comp sheet for the primary sale (photos, map, raw + adjusted math).
    • One short page: supporting indicators (table with your time-adjusted older sales, cost summary, rent cross-check if used).
    • Your reconciliation paragraph with the final number.
    • The form (with land/improvements breakout) and a simple cover sheet.
  1. Do / Don’t

Do - Keep everything tied to Jan 1 and explain why substitutes are comparable. - Use conservative adjustments and round numbers. - Be ready to explain each adjustment in one sentence.

Don’t - Use sales >90 days after Jan 1 as comps. - Over-weight listings, AVMs, or post-March 31 closings (you can mention them only as market context, not as evidence). - Show huge, unproven adjustments.

Quick worksheet you can copy

Primary comp: - Address: ____ | Close date: ____ | Price: $____ - Size adj (Δsf × marginal $ /sf): $____ - Lot adj (diminishing value): $____ - Condition/amenities adj: $____ - Adjusted price: $____ → Adjusted $ /sf: $____

Supporting indicators: - Older Sale A (mm/yyyy): price $____ → time adj % → $ - Older Sale B (mm/yyyy): price $____ → time adj % → $ - Cost approach: RCNew $____ − dep $____ + land $____ = $____ - (Optional) Income: NOI $____ / cap % = $

Reconciled value (Jan 1): $________ (rounded)

Bottom line: With one good comp, you can still win. Make it airtight with careful adjustments, then corroborate with time-adjusted older sales and a simple cost (and rent if relevant). Keep it simple, conservative, and tied to the lien date, and the board has what it needs.