Property Tax Reduction

Did you know that, according to the US Census, currently the two richest counties in the nation include and border Washington DC?  Does that make sense???

Bottom line, if you are considering going before your city to get a property tax reduction, be prepared.  Your city is not eager to concede and give you or anyone else a reduction in their property taxes.  The savings can be tremendous for the property owner and are on going year after year.  As the economy continues to flounder, property values are dropping yet most owners assessed values are still unfairly going up.  .

Right or wrong your city doesn’t want to give you a property tax reduction… Lowering your property taxes is NOT to their benefit.  And the potential savings for the owners are significant. 

Click here to see if you have a case. 

There's a set protocol and procedure for property tax reductions.  It's all about knowing what the details are, and what objections your city will rise, before you go to them.  In general, you only have a few minutes to present your initial case at the appeal meetings.  After which the decision is made behind closed doors with little or no additional input from you. 

How would you handle these questions from either the appeal board or from the assessor:  

• "Would you sell your property today for the deflated value you're saying it's currently worth?"
• "You're currently assessed at 50% market value now.  Why should we give you a reduction?"
• "Are the comparable's you are using from distressed sellers?"    

See property tax reduction store. 

Lower Property Tax

Again, lowering property tax is all about presenting your appeal in a very specific manner.  You need to know how to get "deep" with comps (comparable recent sales).  Having a few comps you got of the internet will not be enough.  You need to know which ones to pick and how to debate the value adjustments with the comps you picked vs. the comps the city assessor has chosen.

You will need to not only discuss your appeal, but you will need to have it in writing as well, so the city officials can review your case later on.  The more detailed and professionally prepared the more likely you will win your property tax reduction. 

You want your presentation to be fool proof, almost "scandalous" for them to revoke.  Also, you want the city officials to believe you are serious and that you are NOT going away if they turn you down.  In other words, if they revoke your claim, you will take your tax appeal to the next level, and they will have to spend more time and money reviewing your appeal.  If you bring in an amateur presentation(or none at all), you risk being blown off, thinking that you will not bother to continue to appeal.  Whether or not you’re right or wrong; whether or not you’re paying too much in real estate taxes - they are protecting their interests and a tax system that is inefficient and antiquated..

Whatever your political stance, you still have the right to pay a just and fair amount of taxes.  It should still be the city's responsibility to operate within their means.   No one should pay more than what they really owe.  As the rest of Americans face corporate downsizing, the worst credit crisis since the Great Depression, etc. – shouldn’t the cities that are supposed to serve us share in the sacrifice?  City employees still enjoy some of the best benefits around (pensions after only 20 years of work, healthcare, job security, time off, etc).

As mentioned above, George Evers ebook (click on the link for more info) maybe of use for you.  He’s well regarded, and wrote a 200 + page guide, complete with training video, based on his 21 years of experience as an appraiser and real estate tax consultant. 

If you want help putting together a residentail professional appeal presentation click here. 

See our property tax reduction store. 

Click here to see if you have a case.

If you have a commercial property that you feel is over-assessed, we want to talk with you right now, please call us to discuss at 248-885-8797.  Residential click here.

 Other resources:  real estate taxes, property tax appeals