Lower Your Property Tax | How To Win An Appeal
July 28th, 2009 Subscribe To Our Feed
If you want to appeal your property taxes you need the definitive guide to Property Values and Adjustments to use for quantifying difference in square footage, age of comparable properties, location, comparing what one has that the other lacks such as a deck or number of garages … and over 20 other adjustment categories in order to Win your Real Estate Property Tax Reduction Appeal.
The terms “Property and House Market Value” and “Property Tax Assessment” are completely different numbers and concepts.
It’s up to you to determine if your real estate property taxes are fair, or otherwise.
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Get the sales ratio for the municipality. The description may be different from one municipality to another. Sales ratio may also be called director’s ratio, the common level of 100% of true value, the average ratio, assessment level, RAR (residential assessment ratio), the equalization rate or similar.
Divide the assessed value on your notice by the sales ratio to find the “perceived” market value that the tax assessor thinks your home is worth. This is the actual value the tax assessor placed on your home and is the value you’ll need to compare against comparable sold homes.
Find a local real estate broker and obtain figures for properties that have been sold that are comparable to yours in size and location. You’ll need to have photocopies of sold homes from Multiple Listing Service since this has buyer-oriented features you can use to prove your case. This information is not found on automated sites and because you need to make adjustments for difference in age, new roof, updated kitchen, bath, patios/decks, fireplace, vaulted ceilings, oak floors and other positive features – by which you adjust the value of your home lower – you need this resource.
Reduce Your Tax & Win Your Property Tax Appeal … cut your learning curve using this guaranteed resource: property tax appeal professional itemized work book and forms!
County officials will not advise you of the typical dollar adjustments to take advantage of.
County officials generally do not offer up property tax help or exact advice for you to win your appeal.
The basics of a tax appeal are the same in every state of the union. You need to find comparable homes that sold for less than what the assessor thinks your home is worth.
Grab your guide to reducing your tax now.
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