A Property Tax Appeal Could Save You Money

A Property Tax Appeal Could Save You Money.

If you are a homeowner, you can pretty much count on getting an annual property tax bill. But did you know you can appeal your property taxes?

Property tax amounts depend on a variety of things.

First and foremost is the assessed value of your home and the land it sits on. This value is determined by a local taxing authority, such as a county assessor, and it can vary annually.

The assessed value is then used to calculate taxes based on the budget needs of a variety of taxing districts such as cities, counties and school districts.

When you get your tax bill you should look at it closely and compare it to previous assessments. You have the right to appeal an assessment and you might want to consider doing just that, especially if there has been a big increase.

Before challenging your assessment, you’ll need to familiarize yourself with the appeal process, paying close attention to any deadlines and requirements. You’ll also need to gather and organize your evidence, which could include comparable home values in your area and evidence of any mistakes made by the assessor in home size or improvements.

Rather than doing all this work yourself, you might consider consulting an expert - such as a lawyer or tax advisor - who can help you through the process.

If all this sounds difficult, it can be, but it can potentially save you a substantial amount of money if you can prove your tax bill was figured to be too high