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Has Your Property Tax Assessment Increased Recently

Memorial Villages Property Tax Appeal on a Desk with a GavelSometimes a Memorial Villages property tax assessment notice can give us quite a shock. A lot of property owners see significant increases in their property tax bills due to home value increases, boundary shifts, and other changes. There is, however, something you can do about an unfair property assessment increase. A significant increase can be sufficient grounds for objecting to it, especially when compared to other properties in your area.

Objecting to a property assessment increase is more common than you think. About 20 to 40% of property owners can lower their property tax bills by objecting to their property assessment, saving themselves a lot of money in the process. Here are some tips on how to object to a property assessment increase and possibly lower your upcoming property tax bill.

Step 1: Gather Evidence

If you think your tax assessment has increased by mistake, your first step will be to contact your tax assessor and have them explain how they determined your property’s value. The increase could have been caused by the assessor erroneously inputting the incorrect square footage or the wrong number of bedrooms for your property. In case the reason for the increase is not that evident, you might need to do additional research. Look for comparable properties in your area that have recently been sold. If these properties sold for a lot less than your property assessment, it could be solid grounds for your objection. Be sure to check your local laws and regulations.

Step 2: Look Up the Appeals Process

Objecting to a property assessment looks different from one county to the next. For this reason, you need to look up the appeals procedure for your specific location. The county website or the tax assessor’s website is likely to contain this information. You can also download the needed forms for your appeal from their sites. Pay particular attention to dates or timeframes. In most places, you have to file an appeal within 90 days, but in some counties, that number can be as low as 30 days. Also, some counties accept appeals only within a very specific window of time. It helps to follow the procedure to the letter for more efficient use of your time as well as to increase your chances of success.

Step 3: File and Argue Your Case

Once your documents and evidence are prepared, you can then file your appeal with the county. Again, make sure you are careful to follow the process as stated in the county or tax assessor’s website. Be sure to pay the filing fee through an approved method. When this is done, you should then receive a notification for when the hearing on your appeal has been scheduled. It is mandatory that you attend the hearing, or that you send a representative if you cannot go in person. The county won’t consider your appeal if you miss the hearing. Bring complete documents and required copies. You will be given a chance to argue your case and, if you are successful, you can have your property assessment adjusted to reflect a more accurate current value.

Objecting to property assessment increases is one of the ways rental property owners keep their expenses under control. Even if it is common, it still takes a lot of time. Add to that the many steps you have to follow to the letter to increase your chances of success. The Memorial Villages property management professionals of Real Property Management Affiliates are ready to help you maximize your rental income. We offer many valuable services to rental property owners like you that can help you keep your costs down and the rental income flowing in. Contact us online or call 713-539-5765 today!

We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.