Each year, the tax assessor drives around looking at every property in the county. They take note of the buildings on each lot and any changes since the previous year. Property tax is supposed to help pay for police, firemen, roads, and other items the county provides for the people who live there. They assess the value of your home and charge property tax based on that. Unfortunately, sometimes the amount you get charged is wrong. You have the right to appeal the tax bill. Contact a property tax consultant to go over your bill and start the appeal process. Here are a few valid reasons for an appeal.
If the market value of your home is less than what it is assessed at, you need to appeal the tax bill. When housing prices are high, you should expect to pay higher property taxes. However, when the market drops, your taxes should too. Your assessed value for tax purposes should always be less than the market value of your home. A property tax consultant will look at your home, where it is located, and the current trends in the market to ascertain if you have been taxed appropriately or not.
Sometimes the assessor does not have any new data on the property. If you had a building demolished, or the buildings were damaged in a storm the assessor may not know that the buildings are not usable or still there. Generally, this happens when the visual inspection took place and then there was a change before the taxes were figured. You need to appeal the bill so you are not paying more than you should. Of course, be prepared for a higher bill next year if everything is repaired and restored.
Breaks and Exemptions
A portion of the value of your home is exempt from being taxed if you are living on the property. In addition, you may be eligible for certain tax breaks and exemptions due to your age, military status, or some type of upgrade you had done to your home. A tax consultant will be up to date on all tax breaks and exemptions and be able to file an appeal if the assessor did not take your exemptions into consideration when preparing the bill.
There is a deadline for when you can file an appeal for your property tax bill. When you first receive the bill, go over it carefully and contact a professional if you feel you have been overcharged.