TAX APPEAL AND ASSESSMENTS

By
Real Estate Agent with CENTURY 21 AAA NORTH

It has been evident that property values have been falling while property taxes have been rising. There are 80% percent increase in property tax challenges over last year. The property owners are entitled to appeal their taxes before a tribunal. If the decision was made and propety taxes were revised the property owner gets a refund with interest. There are a lot of documents that need to be prepared to support property owner' case. Following are some steps that might help owners to gain a favorite decision:

1- Speak to a neighborhood expert in real estate

2- Ask the expert to appear on your behalf before the tribunal with your presence

3-schedule appointment early so you give your agent time to prepare.

4-Ask if your agent can help you to prepare some documentations make your case, following are some docs that are recommended to make your case:

A. CMA(COMPS)properties sold recently within the same criteria.(recommended to use different data bases)

B. It is recommended to use recent appraisal for the subject property.

C. It is recommended to use COMPS from CITY/TWP website.

D. Obtain a letter of authorization from the owner.

E. letter of conclusion finalizing all numbers to show TAXABLE VALUE VERSES PROPERTY VALUE

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