Property tax is one of the most bothersome yet unavoidable matters. Often, it gets too difficult to pay a lot of tax. In such cases, if one wants to, one can lower the tax bills by appealing to the authority and the person or taxman in charge of taking care of the concerned property. However, this is not as easy as it sounds to be. The property tax appeal services involve a stepwise process that will be discussed below.
One of the primary reasons for a property tax appeal is to show that the value of the concerned property is much less than the value that has been assessed. To do this, a real estate agent can help you through the right path. Here is how property tax appeals can be conducted in a stepwise manner.
Step 1: Read the assessment letter
As soon as you get a mail concerning your property’s tax assessment, you will find all the details of your property listed there. It will also contain the assessed value of the property that has been assessed. If one considers that the assessed value of one’s property is much more than it should be, one can challenge it immediately.
Step 2: Decide if a property tax appeal is worth the time invested behind it
The amount of effort one wants to put into the property tax appeal entirely depends on the stakes. If one feels after considering the stakes that it is worth investing the time behind a property tax appeal, one can go ahead. However, before that, it has to be kept in mind that it is a long journey.
Step 3: Go through the data
Before challenging the tax assessed value, it is better to ensure that one has all the correct information about his home. Presenting wrong facts will land one in big trouble. Remember, when challenging a property’s assessed value, there lies a big difference between 0.3 acres and 3.0 acres. Therefore, ensure you are confident about the data of the property.
Step 4: Check out the comparable properties
Take the help of a real estate agent and ask him if he can help you with three or four comparable properties that have been sold recently. Also, double-check with several online real estate websites to understand the approximate values of properties similar to the one in question in terms of condition, style, location, and size.
Step 5: Present the case
Now that one is armed with all the necessary data; one can call the local assessor. In most cases, assessors are willing to discuss things over the phone. Emphasize the deadlines and the necessary procedures. Follow the specific instructions.
Step 6: Appeal if the review is not liked
In case one goes through an unsuccessful review, the decision can be appealed to an independent board. When weighing an appeal, remember that the appeal’s board can only lower the real estate assessment and not the property tax rate.
Therefore, if people are not very sure about the property and its data, it is better to avoid appealing for property tax assessment policy. However, a professional property tax lawyer can be of great help here.