How to File an Appeal for Property Value
In general, property taxes are linked to the value of the property. Although the value varies by state (measure of the value of the property versus measure of the income of the property) the result is the same---as property values increase, so do property taxes. While this methodology makes sense, it may not be effective in periods of low housing prices as tax assessors must reassess land values to change the property tax owed. This is usually at a time when counties are in need of additional funds, so the tax assessor may not be in a hurry to reassess land values.
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Instructions
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Contact your local tax collector's office. If you do not know the location of your local tax collector's office, contact the Department of Revenue for your state.
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Request information about how taxes are assessed on property. Not all property is assessed in the same way. Some taxes are assessed based on the asset value of the property and others are based on the profit (or profit potential) of the property. It is important to understand the methodology used to properly prepare for your appeal.
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Obtain your housing value by researching housing comps. A comp is a recent selling price of similar homes in the area. Numerous websites provide housing comps based on location. One popular one is Zillow.com. You can also ask your real estate agent or look in the local paper for selling prices. Finally, you can obtain an appraisal of the property, but these can cost as much as $300.
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File a petition with your local property tax appeal board (if any). Tax appeals usually occur within the county in which the property is located. Each state has a filing deadline as well as appeal forms and a review process.
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