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How to Protest Your Home’s Property Tax Assessment

Monday, August 25th, 2008

This is how You See Your House

Your Banker See

Your Tax Assessor See

As unbelieveable as it seems, some area’s of the country are raising property tax assessments, as foreclosures rise and sales prices fall. And, while we all are aware that death and taxes are certain…we certainly don’t have to pay more than we owe.

If your home is assessed for more than you feel it is worth. You owe it to yourself to contest your assessment and it is your legal right to do so.

First, verify that all the property information on the assessment is correct:

Are the measurements of your property accurate? Accessments are based on a price per square foot basis, so make sure you aren’t paying for a larger lot or home than you own.
Verify the accuracy of the number of buildings shown on the assessment roll.
Are you being assessed for any improvements you DON’T have, such as central heat and air, garages, fireplaces, basement, bathrooms, etc.
Is the stated age of the structure correct? If not, the depreciation may be incorrect.

Second, you need to do some research and provide key information at your assessment hearing. Generally, you will need to show…

Sales information about comparable properties in your neighborhood. You can obtain this information from a realtor, your tax office or websites such as Zillow.com (Note: Zillow is a national database and their information should be verified with a local source.)
Make adjustments for special features such as pools, tennis courts, lot sizes, etc. and note age if you have one of these features, too. A 20 year old tennis court should be accesssed for less than an new one, for example.
Check the condition of the property and take pictures of any problems that would require repair before you sell.
Gather bids on the costs to make the repairs and deduct the amount from the comparable properties.
If you don’t want to do the research, hire a licensed appraiser to do the work. An actual appraisal is inexpensive. One that is less than 3 months old works the best, if you need to argue your position.

If after doing research, you believe your assessments are too high, schedule an appointment to appeal the valuation. Pay attention to the deadlines. If you miss the deadline, you will be stuck paying the higher tax.

Appealing your tax assessment is your legal right. You deserve to be treated with respect and the tax offices’ job is to work with you, not against you. With a little preparation and patience, you can get your tax bill lowered.

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