Neigh!

Of course!

Very carefully.

In the case of cooperative buildings, a joint appeal must be filed by the Board because there is only one assessed valuation for the entire cooperative property.

The following information must accompany each cooperative valuation appeal:

The following information must accompany each joint condominium valuation appeal:

There are three advantages to filing a joint appeal:

1. market forces that affect the value of an individual condominium unit will have a similar affect on the other units as well;
2. the percentage of ownership assigned to each unit is a major valuation factor; and
3. the Association or Board is most likely to have access to relevant sales information.

A joint appeal filed by the Association or Board on behalf of all condominium owners is the most effective way to appeal the valuation of any condominium building(s).

If you elect to file as an individual unit owner, the following information should accompany your appeal:

1. The closing statement if the unit has been sold within the last five years;
2. A copy of the local municipality’s occupancy permit if the unit is newly constructed or converted;
3. The percentage of ownership of the individual unit, and if presented, the percentage of ownership of comparables.

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