April 5th, 2011
Tax season is coming to a close. While many of us are focused on preparing our 1040’s, this is also the time of year to consider a property tax appeal. You should have recently received a property tax statement. With the recent decline in real estate values, it is prudent to examine your assessed value.
If you believe your property is overvalued by the county, you can informally request that the county assessor lower the assessed value for 2011 (which sets the basis for taxes payable in 2012). A good first step is to give the county assessor specific information regarding your property and compare basic facts about the property to the assessor’s record. If that does not work, or if you want to appeal the 2010 tax value (which is used for taxes payable in 2011) you may also file a petition in tax court. To begin the tax appeal process, you must file a petition by April 30, 2011.
If you believe that your property has been overvalued or have questions about the process, we would be happy to assist you.