3 Step Property Tax Appeal Process
If you believe your property taxes have been over-assessed, then you might want to consider protesting the assessment. The property tax appeals process is one that can help you alleviate property tax debt and save you much-needed money especially if you live in the one of the higher taxes states. Like any other appeal process, the tax protest process is specific and must be done according to procedure and guidelines in order for you to have a chance of winning the appeal.
1. Assess the property assessment
The first part of the property tax protest process is for you to assess your property assessment. Find out how your local government assesses property and then look at the length of time between assessments and how the market value is determined. Some governments compare your property with similar properties that have recently sold to determine its market value and then multiple that figure by the assessment ratio while others might also take into consideration unique features and land values. When checking the assessment, look for any errors in the square footage of your property, the number of rooms and so on. Also, compare your property with similar ones that have recently sold to see if yours is listed at a higher rate than they were.
2. Check any exemptions
Make sure that you get all the breaks you’re entitled to. Some people don’t get all their property tax exemptions because they didn’t know about them or forgot to apply them. For example, certain groups of people might be entitled to tax exemptions that others aren’t. Always check recent laws to see what property tax exemptions you qualify for and if you can’t ask us for help.
3. Prepare the property tax appeal
When preparing the tax protest, ensure that all forms are filled out correctly. Generally, your assessment letter should explain why you think your property is overassessed and should provide evidence and documentation to back up your claims. Your assessment appeal letter is usually sent in to the assessor for review. In some cases, you can settle the matter informally with the assessor, but if you don’t get a reduction or the reduction isn’t as large as you think it should be, then you can take your case to an independent local appeals board for review. If that doesn’t work, then you can appeal your property tax assessment to a state board.
Assessments Technologies can simplify the process for you and help you ensure that it’s carried out properly. By hiring a professional, you can ensure that all the information gathered and documentation submitted will be accurate and done so according to procedure. Our property tax experts have the negotiation skills needed to help you secure a favorable settlement and win your property tax appeal.