Property tax reduction:
According to a survey, more than 60% of homeowners are overvalued by the city’s tax authorities. The most shocking fact is that less than 2% of homeowners requested 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 examine their annual property tax assessment.
Have you ever thought that your property is overvalued? If yes, please do your research. Contact your tax authority for your property tax assessment. However, if homeowners find that their property has come under undue scrutiny and are successful in gathering strong evidence, they can save roughly $ 200 to $ 3,000 each year. However, the value of the savings can vary depending on various factors such as your property, your city tax rate, the overvalued amount of your property, etc.
Getting the property tax reduction is by no means 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 are planning to file a property tax appeal, gather sufficient and appropriate evidence to prove your appeal. If you file a property tax protest, but don’t 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 tax authority says your property is worth.
File a tax appeal
Homeowners should be aware that, as a tax payment, they have the right to file an appeal for the current tax year assessment. The first step of the appeal process begins with a written notification to the local counting officer. Taxpayers have forty-five days from the date of notification to file their appeal. If homeowners did not receive any notice, they must request a reevaluation by May 10 of the appraisal year or 45 days after the date of the lien invoice.
Once you decide to file a tax appeal, you must gather the evidence to support your case. Evidence may be in the form of sale of the property in question, listing prices, sales of comparable properties, and tax assessment prepared by the authorized appraiser. Once the appeal is filed, the board of evaluators reviews your request. If the board determines that your property is overvalued, the authority sends a new notice stating the change in appraised value.
It is recommended that homeowners seek the help of experts when they really want to file a property tax appeal. Skilled attorneys help homeowners save time and strengthen their claim by presenting proper evidence. Another benefit of hiring experts is that they have complete knowledge of the local market, good control of tax laws, and they work with total professionalism and leave no coins to win the case.
