How to Successfully Appeal Your Property Tax Assessment
You all must have started receiving the dreaded property assessment notices from the county. I just addressed a question about appealing a property tax assessment in our neighborhood WhatsApp group, and I figured it’s an appropriate topic for this week’s Mortgage Update. I’ve successfully appealed our property taxes three times, each time managing to get the assessed value lowered. Here’s a detailed guide on how I approached it:
- Check for Errors in County Records:
- County records often have incorrect information about your home’s square footage. Do not rely on online estimates from sites like Zillow, as listing agents sometimes include basement areas in the total square footage.
- Provide Accurate Square Footage:
- I included a property sketch from my last professional appraisal, which accurately showed the square footage of my home.
- Identify Comparable Sales:
- Look for recent sales of homes that are similar in size, quality, and age.
- Highlight Differences in Features:
- Point out that higher-priced homes in the neighborhood often have newer construction or additional features such as a pool or higher-quality finishes.
- Use County Assessments of Similar Properties:
- Include assessments of properties that are similar in size, have the same floor plan, and were built by the same builder. Ensure these homes are of comparable quality and age to yours.
- Base Appeal on Recent Sales and Assessments:
- Ground your appeal in recent sales data and the county’s assessment of similar homes to make a compelling case.
- Be Reasonable with Your Request:
- When requesting a reduction, be reasonable. Avoid asking for a dramatic reduction, as a moderate request is more likely to be successful.
- Ensure Comparability:
- Make sure you are comparing apples to apples. The homes you use as comparables should genuinely reflect the characteristics and value of your own home.
Additional Tips:
- Gather Solid Evidence: Documentation is key. Gather as much solid evidence as possible to support your appeal, including appraisals, sales data, and photographs.
- Prepare a Clear Argument: Be prepared to clearly present your argument and back it up with evidence. Organize your documents logically and be ready to explain your comparisons and reasoning.
- Stay Calm and Professional: During the appeal process, stay calm and professional. Present your case clearly and politely to the assessor or appeal board.
By following these steps, you’ll have a stronger case for lowering your property tax assessment. There are companies that will do this for you for a fee; some charge a flat fee, while others take a percentage of the first year’s tax reduction. Good luck!
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Blog post date: Thursday, June 20, 2024
