Although many associate the spring with tax season, the summer is the time when you will get your 2016 Notice of Proposed Value for your real estate property.
While property taxes aren’t something that requires days of work to analyze, it is best to set aside a little time to go over your taxes and figure out whether you need property tax assistance from a professional.
Here are some of the steps you should complete when you receive your Notice of Proposed Value.
Step One: Analyze the Assessment and Property Information
For many, this year’s proposed property value notice might be the first time you’ve seen such a document. Or, you might have a ton of experience with property tax forms. Either way, the first step you need to take is analyzing the assessment.
Reviewing the entire assessment is essential to verify the information provided is correct. You’ll also want to check on figures like the total land area and the square footage of the property.
Step Two: File a Written Appeal if Necessary
You might find that your taxes appear to be correct as far as value and basic data are concerned. In those circumstances, all you need to do is make sure you pay your taxes on time, so you’re not charged penalties and fees.
On the other hand, if you think there’s a mistake on your taxes – you might not agree with the appraisal district’s calculations – you’ll want to file a property tax appeal. You’ll usually need to get the appeal sent in before 30 days elapse from the date of your property tax notice.
Tip: The deadline for filing an appeal is 30 days after filing your notice, but depending on when your notice of proposed value was dated it could also be May 31. Be aware of this date, so you don’t file late and find you’re ineligible for a property tax appeal.
Step Three: Put Together Your Appeal
You may wish to work with a company specializing in filing property tax appeals in your community or region, particularly if you’ve never before filed an appeal for property taxes. One of the tasks you’ll need to complete – or your property tax attorney will complete – is an examination of all the similar properties in your community.
You’ll need to examine sales of similar properties to gather statistics on the average sale prices. You may have grounds for an appeal if you can prove that similar properties were assessed at lower values than your property.
Work with Hegwood Group on Your Property Tax Appeal
You probably already wear many hats. You shouldn’t have to spend hours of your time learning about your property taxes and filing an appeal because the professional property tax consultants at Hegwood Group are ready to assist you.
Trust the experts to handle your property tax appeal. Contact Hegwood Group today for a consultation.