Chinese Drywall Homeowners to Revalue Their Properties. Chinese drywall homeowners in Hillsborough County, Florida could see their property taxes reduced this year. According to a report on the ABC Action News Website, the county’s property assessor plans to work with Chinese drywall homeowners to revalue their properties.
For months now, we have reported on homeowner complaints regarding Chinese drywall. Homeowners have reported that fumes from the Chinese drywall produce a “rotten eggs” odor that permeates their homes, and causes metal, including air conditioning coils and even jewelry, to corrode. Eye irritation, sinus problems and respiratory symptoms have also been reported among people living in homes containing Chinese drywall.
Recently, tests conducted by the Environmental Protection Agency revealed that Chinese-manufactured drywall contained elevated levels of strontium sulfide, as well as several organic compounds associated with the production of acrylic paint which were not present in samples of U.S.-made drywall. The results of further testing to determine what health and other hazards might be posed by the drywall are due in September and the coming months.
To Have a Detrimental Effect on Property Values.
Of course, having Chinese drywall in a home is bound to have a detrimental effect on property values. According to ABC Action News, Hillsborough County Property Appraiser Rob Turner says he understands these concerns, and is willing to work with homeowners on property revaluations. That could save Chinese drywall victims in the county thousands of dollars, ABC Action News said.
Property owners can start the revaluation process after the receive their Truth in Millage (TRIM) Notices, which are slated to show up in the mail this week. Once they have the TRIM Notice, homeowners should call the county appraisers office. A home visit by an appraiser will be set up, and property owners will need to provide documentation of Chinese drywall, ABC Action News said.
Turner told ABC Action News that a formula for reductions hasn’t been worked out yet. However, he said he would like to see home value reductions that are equal to the cost of repairs.
ABC Action News also suggested that Chinese drywall homeowners in other Florida counties contact their appraiser’s office to request their own revaluations.