Ways to Appeal Your Property Tax Bill

 

Property taxes probably aren't at the top of your reading list. These documents can seem pretty daunting, but knowing what to look for can help you spot mistakes and save money. Let's take a closer look at your property tax assessment by discussing each section.

The Property Tax Bill Breakdown: The property tax bill breakdown lists your assessed value, taxable value after exemptions, and the taxing authorities that will receive a portion of your payment. Before you pay your taxes, make sure to confirm your account number, property details, payment options, and deadlines.

The Property Tax Bill Annual Comparison: This section shows changes in your assessed value and tax rates from one year to the next. If you notice a significant increase, double-check with the assessor's office or make a note to appeal next year if you've missed the deadline. 

The Property Tax Bill Payment Stub: The payment stub is simply the part you detach and mail in with your payment. It summarizes who you are, which property is being taxed, and how much you owe. 

The Property Tax Bill Payment Instructions:The final section explains where to send your payment and who to contact if you have any questions. It also details any additional fees, such as credit card surcharges.

Tips To Appeal an Overvaluation

Mistakes and clerical errors happen. If something doesn't quite add up, you can appeal your property tax assessment by following these steps:

Research recent home sales in your area.Compare lot sizes, key features, and overall condition with your own property to assess its worth.

File your appeal with a local assessor. Depending on your area, you may need to fill out an official form or send a letter with clear reasons for your appeal. Include your account number and any supporting evidence before submitting. 

Review your appeal decision. Once the board reviews your case, you'll receive a letter explaining their decision. If your appeal was approved, this letter will indicate the revised assessed value and your new tax amount. 

Keep in mind that you typically have just 30 to 45 days to appeal your assessment notice after you receive it. For complex cases, it's worth consulting a licensed real estate appraiser. They'll be able to guide you through the process and can even serve as your legal representation if you need to appear before the municipal Board of Review. 

Sources: investopedia, avalara

brought to you by The Basil Group, Dan and Lisa Basil – Realtors at Coldwell Banker Realty. www.thebasilgroup.com 

 612-280-5046

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