Suppose you paid for an appraisal when you refinanced your property a couple of years ago. Now, your real estate taxes have taken a big jump. The question then becomes, can you use that previous appraisal to apply for a tax abatement? Or, perhaps, you work for a financial institution that is reviewing a property loan it made five years ago. Can you ask the original appraiser to just update that first appraisal? Or, in either case, can you ask another appraiser to update the original appraisal? Licensed and certified Massachusetts appraisers work under established practice standards. They know that several considerations dictate whether they can apply previous appraisals for different uses.
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