Understanding Property Tax Appeals
Do you feel that your property taxes are higher than they should be? You may be right, and there is something you can do about it.
Property values are determined very subjectively. If you think your assessment is excessive, you have the right to challenge it. An expert presentation of the true physical and economic condition of your property by someone with a working knowledge of the tax-assessment system can often result in decreased taxes.
All property is assessed in cycles. To appeal a scheduled re-assessment, you must file an appeal. However, you may file an "out-of-cycle" appeal if needed. If you are successful in that "out-of-cycle" appeal, the taxes will be reduced for the following years remaining in the cycle.
Once you have filed an appeal, you have the right to personally present your case to the assessor assigned to your property. The county supervisor of assessments then renders a decision either to lower your assessment or leave it unchanged. If your tax assessment is not lowered, you may then appeal the decision to the Property Tax Assessment Appeals Board. If you do not get relief there, then you may litigate.
The grounds for any appeal must be based on the fair market value of the property. This takes into consideration sales of comparable properties, the condition of your property, replacement costs, income, expenses, and other details. Although the best results are often achieved with older or worn properties, even highly maintained properties should be regularly evaluated for appeal. The results can often be just as dramatic.
R&C Tax Services can help you make the most of your appeal.
You work hard for your success, and you know the importance of making the most of every opportunity to stay competitive in the cut-throat world of business. The last thing you need to do is throw away your hard-earned profits and precious time on unnecessary property tax expenditures.
Recovery & Compliance Tax Services provides complete ad valorem tax services. Careful evaluation of a company’s property portfolio and current tax burden by licensed professionals will typically reveal opportunities to lower administrative cost and tax burden while increasing overall property management efficiency.
The property tax system is complex and political. Why attempt to unravel the intricacies of the constantly changing world of property tax law when your time can be better spent developing your business? R&C Tax Services has over 20 years of extensive network development which provides us access to compliance and regulatory resources that ensure maximum results. Our national knowledge base of laws and regulations along with our expertise and specialization in ad valorem tax valuations and negotiations allows us to recover savings that most companies miss.
Having developed a reputation for expertise, vigilance, and aggressiveness, R&C Tax Services will keep your company in compliance while continuously monitoring tax valuation, abatement, and exemption opportunities that result in the lowest ad valorem tax burden.