How do they get my tax value?

Real Estate Agent with Keller Williams Classic Realty NW 40199800

Are you starting to notice a difference between the tax value on your home and the current market value?  It's becoming something you should keep an eye on.  It's important to know that tax values are based off the previous year.  For example:  Your 2008 tax value was set in January of 2007.  With this declining market, you'll notice that the fair market value of your home today can be quite a bit lower than the value on your 2008 tax statement.  The question should be, was it accurate for when they set the tax?

A couple things you should know.

1.  You can appeal your assessment.  You need to submit your appeal to the county assessor by April 30 for the current year.  Unfortunatly, if you're reading this now you're running out of time.  Like I said, this is something you'll want to keep an eye on in the future, so think ahead to next year. 

2.  You'll want to be sure that you've collected all the data needed to prove that the value they put on your home is inaccurate.  Go to the counties website, or call or email me and I can explain better how they get their numbers.  I can also help you pull the numbers.

3.  Don't be afraid to ask questions!  People hardly ever think to question these things.  With prices as out of whack as they've been in many areas of the NW metro, it not hard to believe that their numbers may be a bit off.  They actually only physically visit a property about every 5 years.  A lot can happen in that amount of time.

Well, I hope this was helpful.  Feel free to leave me a comment!



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