Real Estate taxes - appeal

Definitely protest it down, probably be best to use consultants. It's a guarantee we appeal down, sometimes even sue down - not sure how the budget works on a 3.5mm deal on whether a consultant is worth it, but they do know what they're doing. I'm not a tax consultant but feels like you should have some room, appraisal districts have been getting aggressive recently but it's tough for them to back up the kind of increase you have seen and they're kind of wanting to see who sucks it up (unless, of course, you bought it for 3.5mm and they know, or your neighbor bought something worse for 3.5mm). An additional benefit is that with sale values dropping recently due to higher rates, you may be able to find some great comps... values ain't what they used to be 6mo ago and for once that can be good for the investor.

Talk to a local professional that specialized in tax appeals in the county.  A good starting point would be to ask the best local RE attorney for guidance.

As the above poster mention, you will likely find the cost isn't worth it for a $3.5mm deal.... I've typically only seen owners go through with an appeals process when its a large asset or portfolio of assets (like, hundreds of millions of dollars of real estate).