Today the property assessment function is much different than in previous years. Not only is the assessment now based on the current value of your property, but also , starting in 2009 this value is changed every four years. It is up to the property owner to produce a reasonable case as to why their property value is too high. This is where a consultant can assist you in the preparation of this information.
Facts to Consider:
I can give you two alternatives on how to prepare for your assessment appeal.
As your consultant, I will give you an honest opinion on whether your assessment is accurate in order that you do not waste your time and efforts. Many property assessments are accurately done. There are also many assessments that need to be adjusted. A fair estimate would be 20% to 30% of the properties need this adjustment. However, many property owners do not question their property assessment and thus continue to pay higher taxes for many years.
A recent client of mine had been paying taxes on an inaccurate square footage due to an incorrect calculation of the second floor area of their house. This error existed for approximately 5 years. The assessment was reduced by approximately 15%. This amounted to $500.00 in taxes or $2,500 over the five years that the assessment was incorrect. Do not take for granted that the value is correct, everything should be reviewed before accepting your value.
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