How Do I Get My House Reassesed for Taxes?

Reassessing your property for tax purposes is a simple process.

Real estate owners in the United States provide revenue to the government in the form of property tax. According to Investor Words, the property tax obligation is derived from the property's assessed value, which is assigned to it by the local tax assessor. This assessed value may be incorrect if local property market value drops in between assessment dates or if information recorded about the property is incorrect. Such inaccuracies would justify a reassessment to ensure a fair and correct tax payment.

Instructions

1. Validate the information on your property record card, and take note of any discrepancies. The information on the record card, such as number of bedrooms and square footage, is used to determine your assessment value. Inaccurate information will affect your assessment negatively.

2. Request and compile the most recent sales data from comparable properties. Your local real estate agent can gather this information from the multiple listing service.

3. File a petition for assessment appeal. These are generally filed with the local county clerks office.

4. Prepare for a formal hearing in front of the assessment appeals board. This hearing is facilitated only if your petition is seen as valid. In this hearing, you will present the comparable sales data and any discrepancies found on the property record card. You will also voice the specific reasons a new assessment is credible.

Tips & Warnings

• The appeal/reassessment process is different in every jurisdiction. Check with your local assessor's office for any unique requirements.

• If you find your petition denied an individual hearing, consider creating a neighborhood association. The collective power can help to persuade the local assessment board.

References

• Smart Money: Reassessing for Lower Taxes Article
• State of Oregon: Property Tax Information
• Investor Words: Assessed Value Definition