If you feel that your property tax assessment is too high, you have the right to appeal it. And remember, you are not alone, more than 60% of properties in the USA are said to be over-assessed for tax purposes alone. However, to win your appeal, you will need to provide strong evidence to support your case. In this article, we will discuss some tips on how to gather evidence for your property tax appeal.
Without the right evidence, your case will fall apart at the hearing, and the state will win. You may also be fined for the lack of evidence and face further trouble. If you are a commercial real estate business owner, it is crucial that you know how to gather evidence and what evidence is crucial for your case. Read on to find out all about it.
Steps to gather evidence for your property tax appeal
Follow these seven steps to get all the evidence you need for your property tax appeal.
Review your assessment notice
The first step in gathering evidence is to review your assessment notice. This document will give you an idea of how your property was assessed and what factors the assessor used to determine its value. Check for any errors or inaccuracies, such as incorrect property dimensions or the inclusion of features that do not exist.
Research comparable properties
Secondly, look into nearby properties that are comparable. Search for properties that are comparable to your own in terms of size, design, and age. You can acquire this information by visiting the office of your local property appraiser or real estate websites. List the properties you come across together with their estimated valuations.
Visit the assessor's office
Ask for a copy of your property's file when you visit the local assessor's office. This will include all the details, including the most recent upgrades or renovations, that the assessor utilized to figure out the worth of your home. Check the veracity of this material, and record any inconsistencies. Your local assessor's office is legally bound to give you your property's tax card to help you understand why and how you were taxed.
Take photos
Take pictures of your property's interior and outside. This will provide you with visual proof of any flaws or problems that can lower the value of your property, including an old roof or obsolete appliances. It is always best to hire professionals to get the photographs on your behalf so that the facts are concrete.
Hire an appraiser
Think about having your property appraised by a qualified specialist. This can give you a thorough appraisal of the value of your property, which you can use as support for your appeal. Make sure to pick an appraiser with local experience and a license.
An unbiased property assessment will also help you get a neutral report that covers all areas. A professional assessment provider will check the property inside out and provide a detailed report. They will also find you enough evidence to make your case.
Keep records
Keep track of any improvements or repairs you have made to your home since the last appraisal. These can include invoices for repairs, receipts for new appliances, and any other supporting evidence.
Prepare your case
It is time to prepare your case once you have acquired all of the proof. List every piece of evidence you have obtained and arrange it logically. You might also wish to provide a summary of your case, explaining why you think your evaluation is too high and what proof you have on your side.
The information you must gather before an appeal
When making a property tax appeal, it's important to gather evidence that supports your claim that your property is overvalued or over-assessed. Here are the pieces of information that you must gather before you file a formal appeal. Check out the list below.
Assessment notice
Review your property's assessment notice to ensure that there are no errors or inaccuracies in the assessed value of your property.
Comparable sales
Gather information on recent sales of similar properties in your area. This will help you determine if your property is overvalued or not.
Appraisal
Obtain a professional appraisal of your property from a licensed appraiser. The appraisal report should detail the value of your property based on various factors, such as the property's location, size, condition, and comparable sales in the area.
Property records
Obtain records of your property, such as the deed, property tax bills, and any other relevant documents. These records can provide insight into the history of your property and any changes that may affect its value.
Photos
Take photographs of your property, both inside and outside, to document any damage or issues that could affect the property's value.
Repair and maintenance records
Keep records of any repairs or maintenance done on your property, including invoices and receipts. This information can help support your claim that the property is not worth the assessed value.
Local market conditions
Research the current real estate market in your area, including local economic factors, recent sales trends, and changes in property values.
By gathering this evidence, you can make a strong case for a property tax appeal and increase your chances of success. It's important to organize and present your evidence in a clear and concise manner so that it is easy for the appeals board to understand your argument.
Hire Assetsoft for your property tax appeal work
In conclusion, gathering evidence for your property tax appeal requires diligence and attention to detail. By following these tips, you can build a strong case that will increase your chances of a successful appeal.
But when you run a commercial real estate business, there are multiple properties under your portfolio. It can be a daunting task to gather the evidence for all the properties and make valid appeals within the deadline. That is why it is always best to delegate some of the tasks and free up your valuable time. At Assetsoft, we have a team of experts who can help you.
Our service providers are experienced and offer their services at the most affordable rates. The best part about it is we will not charge you if we do not successfully reduce your assessment value. Exciting? It is time you gave us a call.