Property Tax Reduction:

According to a survey, more than 60% of homeowners are over-assessed by city tax authorities. The most shocking fact is that less than 2% of homeowners have applied for a reassessment and still 58% of homeowners are paying taxes on their overvalued property. People may be surprised to learn that 70% of homeowners win their case and enjoy reduced property taxes. Therefore, it is important for homeowners to review their annual property lien assessment.

Have you ever thought that your property is overvalued? If yes, then carry out the investigation. Contact your taxing authority for your property tax assessment. However, if homeowners find that their property has been over-examined and are successful in gathering solid evidence, they can save $200 to $3,000 each year. However, the value of the savings can vary depending on several factors, such as your property, the tax rate in your city, the amount of your property that is overvalued, etc.

Getting property tax relief is not at all a complicated job for homeowners. It will take some time to understand the process and how to file your appeal with the authorities. When you plan to file a property tax appeal, gather sufficient and appropriate evidence to prove your appeal. If you file a property tax protest, but do not present adequate evidence to prove your appeal, you should lose the case. You must prove your case by presenting the appraised value of other properties sold for less than what your city taxing authority says your property is worth.

File a tax appeal

Homeowners should know that, as taxpayers, they have the right to file an appeal to find out the tax settlement for the current year. The first step in the appeal process begins with written notification to the local canvassing officer. Taxpayers have a period of forty-five days from the date of the notification to lodge their appeal. If homeowners did not receive any notice, they must request a reassessment by May 10 of the assessment year or 45 days after the lien invoice date, whichever is later.

Once you decide to file a tax appeal, you need to gather the evidence to support your case. The evidence may be in the form of a subject property sale, price quote, comparable property sales, and tax assessment prepared by the licensed appraiser. Once the appeal is filed, the board of reviewers reviews your petition. If the board determines that your property is overvalued, the authority sends a new notice indicating the change in the appraised value.

It is advisable for homeowners to get expert help when they really want to file a property tax appeal. Experienced attorneys help homeowners save time and strengthen their claim by presenting the proper evidence. Another benefit of hiring an expert is that they have complete knowledge about the local market, a good command of tax laws and work with total professionalism and do not flip the coin to win the case.