How to Challenge a Property Tax Assessment
Upon opening your latest real estate tax bill, you find that your property taxes have gone up, perhaps at a rate faster than inflation. In times past you may have accepted each increase, but this time you believe that you can make your case before city hall and win. Rising home values are what contributes to a higher property tax bill, with the National Taxpayers Union asserting that as much as 60 percent of all property in the U.S. is over-assessed.
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Instructions
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Contact your tax assessor's office to find out how it determines home values. This value may be derived from what the assessor thinks it would cost you to rebuild your home or it could come from recent sales, perhaps both. Your particular tax liability may be based on a percentage of your property's estimated value. Ask your tax assessor for that percentage to find out if the value assigned to your property is equitable.
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Review your tax bill. Your property tax bill should include all sorts of information about your home besides its value and the taxes you owe. Lot size, square footage, number of bedrooms and baths are among the details featured. If that information in incorrect, then contact your tax assessor for a correction including adjusted valuation.
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Prepare to move quickly. You have a limited amount of time to challenge a property tax assessment, usually no more than 60 days from the mailing date. Simple mistakes can be handled over the phone, but if you need to launch a full challenge to your assessment, then you need to begin your research at once. Review the valuations of properties in your neighborhood, information available from your tax assessor. You can also verify recent home sales by enlisting the help of a real estate agent who can provide price comparables for your review.
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Schedule an informal meeting with your tax assessor, bringing with you supporting documentation to discuss your findings. If you can meet with your tax assessor informally, she may side with you based on the information you have supplied. If not, you'll have to make a formal appeal before the tax board. In some areas, informal meetings are not allowed, which means your only option is the formal appeal.
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Schedule a formal meeting if your tax assessor turns down your request for a lowered valuation or is not allowed to meet with you informally. You may be required to bring your case before the city or county board, where members will review your case and ask questions. Be ready to supply pictures of your home including one showing the proximity of a cell phone tower to your property, the location of your home by a busy street or some other factor which proves your home is over valued. Consider paying for an independent appraiser to assess your home's property value, supplying a copy of that report at your hearing.
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Tips & Warnings
If your home is in disrepair, has an older kitchen or a dated bath, be prepared to show pictures of your home proving that your home is assessed too high. The tax assessor may be basing his assessment on a home that is in good shape, which means you can show him otherwise.
Keep your appeal brief, covering all of your points methodically.
If you miss your appeal deadline, you may not be able to file an appeal until the next tax year or when your home is reassessed. If your appeal is denied, you may need to hire an attorney to take up your case for you.
References
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