How to Challenge Your Property Tax Assessment?

Never be hesitant to fight back if you got an excessively large property tax bill. Here’s how to appeal your tax assessment and properly contest it.

Taxing authorities have two options for increasing tax income. The first is to increase tax rates. Each municipal entity often has its own tax rate, which is added together and combined to create one tax bill. (The fees charged by the county government, school districts, community institutions, and county hospitals may vary.)

The county appraisal district can enhance income even without raising rates by increasing values. It will evaluate what it believes your home’s market worth ought to be. Some states have a cap on how much a personal home’s value, or homestead, can increase from the year before. The appraisal will be adjusted to bring the assessed value into line if the new market value exceeds that ceiling.

Pay close attention to your evaluation note. Take note of your home’s evaluated or assessed worth as well as the market value. Keep in mind the amount of time you have to submit a protest. Make time to gather the evidence you will need to support your appeal.

Look for your property on the county tax appraisal website and submit a protest form there. Alternately, fill out the form that was included in your mailing. You might have the choice to upload supporting documentation, such similar sales, when you submit a protest notice online. In certain counties, an appraiser can examine your online protest and present a compromise value without ever meeting you in person.

Check all that apply, depending on your research, on the protest form for reasons why you think your home is overpriced, such as “surpasses market value,” “value uneven compared to other homes,” and “description is wrong.”

Ask a real estate agent to give you sales information from your neighbourhood during the previous year if you think the home’s market value is excessively high or not similar to other houses. Concentrate on homes that resemble yours the most. Show them your closing statement if you recently purchased the property for less than the county appraisal. Submit a lower private or professional appraisal if you have one.

File for a correction if the square footage in the county assessment is significantly incorrect. Send images and a qualified estimate of the repair costs if your home has damage that lowers its value, such as foundation or roof issues.

The county will probably set up two hearings: one for you to present your case, and one for you to formally object before a board.

There are reputable tax protest companies available. These companies will represent you before the county after receiving all of your property details and accompanying documents. Typically, the firm is only compensated if it is successful in lowering the valuation and ensuing taxes. Typically, the fee is calculated as a percentage of the savings.