A detailed tour of the Property Tax Appeal Process
You can now appeal to get a reduced tax bill. Yes, you read it correctly! Your tax bills can be reduced, no matter at what value they have been imposed. You can appeal against the “assessed value” of your property to reduce the tax rates. Let us have a look at the detailed description of step to step Georgetown Tax Protests Process.
1. Go through your assessment letter thoroughly: The district local assesses your property’s tax value time and again. This time, when the new assessment letter arrives in your mail, make sure to go through the letter thoroughly. If you think that your property has been assessed at a value much lower than it should be, apply for protest as soon as possible. This is suggested because the ime limit for challenging the evaluation is stipulated within 30 days of your receiving the assessment letter.
2. Make a decision whether appealing for tax evaluation is worthy of your time or not: You must make a decision concerning whether or not you must appeal for re-evaluation of your property or not. Generally, these processes are time-consuming and require a lot of effort. However, you can always take help from an attorney to make a process slightly convenient and less time-consuming.
3. Verify each data: Make sure to check the data taken into consideration while assessing the value of your property. Check for the number of rooms or bathrooms calculated and area that your property occupies. For example, check if your property is marked for 0.5 acres instead of 5.0 acres, this will make a huge difference in the assessment value. By pointing out the errors in the listing process, you already have a benefit of winning the case.
4. Make a list of some comparable properties: Take help from your real estate agent to make a list of at least three to five properties that have been recently sold. In the real estate lingo, these properties are referred to as “comps”. Check for the comps that are similar to the size and designing of your property in the locality. Once you have found out about these properties, look for their assessed value. There are very high chances of finding out comps that are assessed at a lower value than that of your property. You can simply make use of this data to appeal for your case.
5. Make your case: Now that you have done the research that was required for the appealing process, contact the district assessment office to receive a formal review of the same. You must pay undivided attention to all the deadlines and the way the procedures are being carried out. There might be a requirement of filling out certain forms and providing specific information that will support your cause. The review process generally takes time depending on the number of cases that your municipality has to deal with. You need to be patient and wait for a few minutes at least to get the final evaluated tax rate.