Commercial property tax appeals are something that all commercial property owners should attempt every tax season. The county assessor is only human. Mistakes happen, and you could be eligible for lower property tax payments in the future.
Unfortunately, the property tax appeal process is much more complicated than simply filing your appeal and waiting on results. Thorough reviews, evidence, and (potentially) multiple hearings all go into the tax appeal process.
Attempting these steps with a DIY attitude and zero experience could result in you leaving thousands of dollars on the table.
Here’s some insight into what makes a property tax appeal so complex and why you should always work with a property tax consultant during your argument against high taxes.
Filing Your Appeal Moves Quickly
As we’ve mentioned before, filing your appeal is never as simple as just filing. If you feel that your property taxes are too high, you will want to thoroughly review your latest valuation notice.
This document lets you know what the latest assessed value is for your property. Keep in mind that once you receive this document, you have 30 days to determine that the assessor overvalued your property.
This means that as a first-time DIY appealer, you’ll have to move quickly to identify:
- Comparable properties in your area
- Conditions on your property that could lead to a reduction
- Inequitable taxes for your property
Once you’ve gathered your evidence, (which we’ll go into detail on below) and arrived at your opinion of value, it’s finally time to submit your appeal to the correct county office.
You Must Prove the Assessor Over-Assessed Your Property
A successful property tax appeal requires sufficient evidence of the county’s overassessment of your property’s value. Supporting evidence is the crux of your appeal argument. Therefore, you want to make sure you’ve covered all of the elements that could result in lower property taxes.
What is Acceptable Supporting Evidence?
- Damage and deferred maintenance to your property are rarely anything an assessor’s office looks into.
- Providing this evidence is extremely effective.
- Quotes for repairs that were needed prior to the county’s original assessment
- Sales comparables of similar properties in your area that recently sold
You purchased the property recently (within 2 years) and your assessed value is significantly higher than what you paid. Texas is a non-disclosure state, so the county would not have access to your final sales price, making it easier for them to mistakenly over-assess your property value.
How Can a Property Tax Consultant Help in the First Steps of an Appeal?
Taking the first steps of a property tax appeal can be tedious without prior experience. A property tax consultant will know the ins and outs of your county’s appeal process and help you arrive at an accurate opinion of value well before the 30-day property tax deadline.
We will help you obtain all necessary documents, review your property tax information, and unveil every way you could possibly save money on your next property tax payments.
Reviewing Tax Assessor Evidence Can Be Tedious
Upon filing your appeal and around a month before your first hearing, your assessor will send you a packet that contains all of the information they used to lead up to their final assessment of your property.
At this point, you’ll have to once again, review your evidence, compare your evidence to the packet you’ve received, and create a rebuttal that proves your case is worthy of a proper tax reduction.
This process takes a lot of time without experience, and a property tax consultant can not only help you save this time but can also provide you with the right rebuttal approach that they’ve witnessed in successful appeals similar to yours in the past.
Appeal Your Commercial Property Tax Professionally With The Hegwood Group
If you are a commercial property owner that knows you paid too much in property taxes this past season, it’s time to prepare for next year’s successful appeal.
The property tax consultants of the Hegwood Group can help you navigate your appeal and save you lots of time throughout the preparatory steps of the process.
Reach out to us today to schedule your free consultation!
