Appeal your property tax: how to tell if your property tax is overassessed?

(Resources From web)

Tell-tale signs include:

• Errors in the description of your property on the tax bill.

• Compatible homes in the area that have sold for less than your appraised value.

• Neighbors with lower assessments on similar houses. Some homes retain the same assessed value for years and assessed values often don’t rise in step with market values or home sale prices.

• Value reducers in your home or area, including drainage problems, easements, re-zoning, heavy traffic, nearby railroad tracks, freeways, industry or toxic waste.

• Depreciation factors, including age, the quality of materials, inefficient heating, structural cracks, deterioration, or chronic defects.

The AHA’s kit is a good deal because it’s an informative package that is free. NTU’s costs $7, but likewise remains a bargain from an independent non-commercial source. However, your local jurisdiction has all the information you need to appeal your property tax assessment and it’s a good bet that information and the process is free.

Watch out for private, sometimes questionable property tax reduction operations charging larger fees and promises. Avoid official-looking mailings and email come-ons that offer to do the work for you — for a fee — with “guarantees.” Some are out right scams appealing to your sense of dread at going it alone. They want only your money and have no plans to appeal your property tax assessment.

In any event, you can wait until your assessment arrives or visit your property tax assessor’s office to examine your account.