As a property owner, you have the right to protest your property tax assessment. While many people don’t file appeals, those that do can see their real estate taxes reduced significantly.

Generally, you have 45 days from the date of your property’s assessment (or ER or RAR as it may be called in Georgia) to file an appeal with the county assessor. This time frame can vary slightly from state to state, so make sure you review your local rules and regulations carefully.

A common reason to file a property tax assessment appeal is based on overvaluation, or an incorrect comparison of the property with similar properties in your area. Having access to comparable property data is crucial for this purpose, and it’s often worth the effort to hire third-party professionals to help you gather this information. The more data you can present, the better your chances of having a successful property tax assessment appeal. Read more https://www.4brothersbuyhouses.com/we-buy-houses-in-falls-church-va/

Another common reason to file an assessment appeal is a change in your property’s classification or exemption. These can be a result of things like local economic trends, natural disasters or changes in government policy. Keeping an eye on local news can reveal these events, and it’s important to stay up-to-date on changes in the laws that affect your property type. This is where a real estate attorney can come in handy, as they are well-versed in these laws and the changes that could impact your current or future assessment.

In some states, homeowners have as little as 25 days from the date their assessment notice was sent to file an appeal with the local board of appeals. This is why it’s imperative to act quickly and seek assistance as soon as you discover that your property’s assessed value differs from your perception of its fair market value.

Some property owners choose to handle their assessment appeals on their own, but this can be a time-consuming and difficult process. Others opt to hire a third-party professional who can take care of the entire process for them, typically for a fee.

The most common reasons to file a property tax assessment appeal are due to overvaluation or incorrect comparison of the property with similar properties in the area. Regardless of your motivation, it’s important to remember that filing an appeal can have significant consequences for the property owner, so be sure to take the appropriate steps to protect yourself and your investment.

While the odds of winning a property tax assessment appeal aren’t great, they can be worth the time and effort to contest your property tax assessment. Having an experienced real estate attorney by your side can ensure that your assessment is accurate and that you don’t overpay for your home or commercial property.

Real estate developer Tyler Oswood from Cedar Rapids, IA, agrees: “If you feel that your property is overvalued, it’s definitely worth the effort to do an appeal.” This article was provided by and edited by The Atlanta Journal-Constitution.