For many people, keeping a close eye on their property tax bill is becoming the norm across the country, and for good reason. With the decline in the real estate market and the sheer fact that so many are trying to hold on to every dollar that they can, it is possible to save $100’s, and for some $1000’s, each year. Lowering your property tax has never been an overly difficult process, but until recently, less than 5% of property owners appealed their property tax assessments every year. Give the dramatic change in property values recently, this begs the question: What can you expect now when trying to lower your tax burden?
Much like visiting the local shopping mall in December, you can expect long lines and roadblocks along the way. Local municipalities and assessment review boards are typically assessment departments are understaffed, but many of us may find that our tax appeals will not be as efficient or accurate as we would like in many parts of the country.There may be no surefire method to appealing your latest property tax assessment, but the best way to prepare for what may be a difficult battle is to have substantial evidence of your property’s current market value and the required forms with I’s dotted and T’s crossed. Review boards are looking for any reason to deny your case.
Above all, it is important to remember that it is up to you to make certain you are assessed fairly and that you have the right to challenge your property tax assessment.
Have questions about your property taxes? visit AskPropertyTax.com
