Protesting Property Tax Amount
Hello all,
I assume this is a timely topic, since I just got my 2004 tax bill in the mail yesterday. I have heard of people protesting the amount of property taxes they must pay, and getting the amount reduced.
Has anyone ever been through this process who can provide some tips? I assume every municipality will differ, but would I need to do my own research on comp values, or does the County Collector's office handle everything? How much can i expect to have my taxes reduced? $100, $500, 50% ? Also, if anyone can discuss the "hot buttons" to bring up when negotiating with the County Collector's Office, that would be ideal.
Thanks in advance.
A few thoughts:
In my county we submit a written appeal and then if our appeal is not granted or we are not happy with the decision the assessor makes, we get a hearing.
From here you'll need to present your case on why the assessment is incorrect. Realtor BPO's, apprasials, your own comps, are all helpful. Photos of disrepair, etc too.
The other side of this is you should really look at whether your tax assessment is high or if you are just trying to lower your taxes. If you ever have any plans to sell your property, you should keep your tax assessment high. With the craze of the internet, every idiot buyer looks at the tax assessment to determine what the house is worth. The higher the assessment the higher buyers will pay. Of course if the assessment is factually high, then you may want to appeal.
GOOD LUCK