Property Tax Appeal?

Property Tax Appeal

With Home price dropping, property tax should also!

Property taxation keeps pace with home price increases in many parts of the country.  Our local, state and federal governments are usually quick to increase your realty and school taxes as homes values go up or an addition is included.

Get an appraiser or residential broker to review your home’s value compared to current assessed valuations. Talk to your neighbors and see their valuations and assessed amounts and compare.  Then:

  • 1. Arrange for a local tax assessor to re-evaluate and then ask for a complete copy of the homes tax records. Property cards are supposed to be public records.
  • 2. Pay attention to comparable homes in your area, as well as properties listed on property record cards.
  • 3. Take appropriate equalization ratios and multiply the market value you believe should be appropriate for the home by that ration.

Once you have collected information and documentation that might support a reassessment for lower property tax rates, contact your tax assessor for a re-evaluation. Appeal your evaluation when in doubt and make the county prove assessed value.   

Property tax rates, as they are, are astronomical and growing ever faster. They will continue to do so without appropriate checks and balances on our governments. After all, it is your money you are given away if assessed rates are wrong or skewed. 

During difficult economic times, any effort to appeal extraordinary property tax bills could prove worth any efforts. 

 

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