2023 Property Tax Appeals – Tips and Tricks
Be Clear, Be Concise and Be Kind
This seems to be the subject of the Month. We have had so many folks reach out to us about appealing their property taxes and in the meantime we have gone on a mission to learn all we could about what a successful appeal looks like.
There are 3 components to your property tax bill:
1) Assessment Rate from State Statute
2) Tax Rate (Mill Levy) based on Taxing Authorities in your Taxing District
3) Assessor’s Actual Property Value based on
Sales in the Study Period: July 1, 2020 – June 30, 2022
The only one you can appeal is the Assessor’s Actual Property Value. The Assessor’s office uses a Mass Appraisal Model which cannot differentiate details. We need to remember that in most cases it comes close but there are valuations that are not correct.
What can you do?
-visit your county website and get the process and any forms you need
-find comparables- solds to your home – remember APPLES to APPLES not APPLES to ORANGES
-when using the study period try to get homes sold as close to June 2022 as possible
-when writing your appeal remember to be concise, be clear and be kind (the sugary type)
-need help? Call Willie or Lizz
Tips:
-If you have an appraisal during the study period (as close to June 2022) that shows a lower value submit that with your appeal
-3 to 5 comparable sales
-Highlight what you don’t like about your house – remember big things: Bathroom count, finished square footage, etc
-If the county shared the comparables they used make sure to verify them
-townhomes and condos rarely are successful on appeal
Finally, the assessor will take your file and now do an individual appraisal on your home using the data and information you submitted and their own. Appeals can cause an inflated value as well so make sure you really feel like yours is overstated. Values that miss by 10K or less are most likely not worth the appeal. The window is closing most counties you have until June 8th some counties you have longer. This process is easy, don’t be intimidated.
Again, if you or anyone you know need some help, advice etc. we are here to help!