On average, people pay about $2,300 on their property taxes. Everyone's situation is different, so it is important that you get to know how much your property is worth and what implications that has on the amount of tax that you pay. It's very common to find that you don't agree with the amount of property taxes that your home has been assessed for.
When this happens, you will want to look into a property tax appeal so that you can adjust the price and correct the mistake or oversight. With this in mind, here are a few things you need to know about addressing a property tax dispute.
Why are property tax appeals so useful?
Always remember that you are well within your rights to appeal your property tax, no matter the discrepancy or reason. Don't feel that you are making a fuss because there are plenty of reasons for getting an appeal -- including the following:
- You may have been overcharged. It's simply not fair to have to pay more money out of pocket than you owe. Errors happen, and it is sometimes up to you to correct that error by correctly filing an appeal.
- It's important to get to know your home's true value. When you get your property tax assessment, one of the best points of value is the fact you now know how much your home is likely worth. This information is useful to you since your house is your biggest investment.
- You can potentially keep more money in your pocket. By successfully filing and winning a property tax appeal, you will ultimately save money that can be used on other repairs around the house.
How can I handle my property tax appeal correctly?
First and foremost, you need to consider the discrepancy and figure out if filing an appeal is worth your time or not. Do your research and consider hiring an accountant and tax lawyer so that you can put together an appeal that lays out the evidence point by point. You will file an official appeals form and will likely have a hearing scheduled at your area's tax assessor's office.
While you are at it, you can also see if you are eligible for any sort of exemptions or write-offs that may not have been calculated or considered.
Take the time to use these strategies so that you are able to get the most out of your property tax appeal.
To learn more about property tax appeals, contact a real estate lawyer.