A property tax bill is something that many homeowners wish they could challenge in order to avoid paying a large amount of cash to the county every year.
Here are some examples of the top three assessment mistakes and what you can do if you think your property tax bill has fallen victim.
While many people end up having to pay their full bill, there are certain situations where mistakes are made and a bill challenge can be successful. Knowing the possible errors that can be made and how to confirm them is important.
YOUR ASSESSMENT DOESN’T MATCH THE SALES PRICE
This mistake is quite common when it comes to recently purchased homes. Homeowners may discover discrepancies between what they purchased the home for and what the assessed value is of the property.
By meeting with a property tax consultant and discussing the details of the home purchase, you may be eligible for a lower property tax payment. This comes into play if your transaction total is lower than the assessment you receive in the mail.
Note that this option is void on all sales of homes that have been purchased out of foreclosure.
INCORRECT LAND VALUE ASSESSMENT
Sometimes the county may fail to reassess your land with current land comparables. This means that your land may actually be worth less than the property tax bill states due to value lost in your area.
If you feel that your property taxes are suffering from this error, a real estate tax expert can help you uncover recent land sales that are similar to your property. If these sales work in your favor as evidence that the land is valued less than the tax bill, you could save your family some money this tax season.
THE LIVING AREA OF YOUR HOME IS NOT CORRECT
Homes that are higher than one story are notorious for not having the correct living area within the county records. Having your home measured and fully appraised is a great way to determine if your home’s area is in correct standing with the county.
HOW CAN YOU FIND OUT ABOUT PROPERTY TAX MISTAKES?
By working with a property tax consultant, you can gain a true understanding of your local county procedures for property assessments, you will soon discover you have a knack for knowing when something is wrong with your bill.
Once you have determined an issue you can perform further market research by speaking with local real estate agents, checking the value of surrounding homes on sites like Zillow, or simply searching the public records on your home’s history.
THE HEGWOOD GROUP HELPS YOU UNCOVER AND PROTEST ASSESSMENT ERRORS
If you believe that your property bill is so high due to error on behalf of your county assessor, don’t wait another year to pay a higher bill.
The Hegwood Group is a team of experienced property tax consultants that can help you navigate your way through the appeals process and any questions you may have about your projected payment.
Contact us today and find out how we can help you reduce your property taxes.