Do you Understand the Tax Grievance Process?

Filing a property tax grievance can be a confusing thing to do, but it offers great rewards if you get the right help. Here are some of the things to know about the process, and that Property Tax Adjusters, Ltd. can do for you.

Getting an Assessment

The assessment is a vital port of the property tax grievance process. However, it’s not the assessor that will set your property taxes. The job of the assessor is to figure out the market value of your property through comparable sales, which is actually similar to an appraiser. Just as an appraiser will not set the amount of money you can get when you refinance your mortgage, the assessor doesn’t set your property taxes.

The market value must first be established before the property taxes can be calculated. Once this has been done, the UPV set by the state will be used to set the assessed value of your property. Once this is done, the municipality will determine the amount of taxes due on the property.

The Grievance

When tax day comes and you get your assessment, you have the right to file a grievance. You can make four separate claims for a grievance, which include when your property hasn’t been properly classified. For example, if it’s showing up as a commercial property, but it’s a residential property.

Typically, a property tax grievance is filed due to an unequal assessment. This happens when other homeowners, with similar homes, have received a lower assessment. Filing an Unequal Assessment claim allows you to argue that the market value of your property is higher than it should be. If your claim is proven, it could mean a lower tax bill now and in the future.

Meeting the Deadlines

Another big part of the property tax grievance process are the deadlines. You have to file your grievance before the deadline from your municipality. The grievance must include two documents, which are the RP-524 and the Complaint on Real Property Assessment. You will also need a letter of support, which should address your reason for filing a grievance. It should also state the relief you are seeking. Even if your grievance isn’t successful at first, you have the option to appeal.

Filing a property tax grievance is a process, and it can be a bit difficult to understand. However, with a little help, you may be able to get your tax bill lowered. Speaking with a property tax firm is the best way to find out if you have grounds for a grievance, and to get the process started.

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Testimonials

“I have saved on my own real estate taxes for many years. As well, any clients I have referred have also saved on their taxes and advised they were very happy with the service and results received from Property Tax Adjusters. It is without hesitation that I refer interested persons, friends and clients alike, to Property Tax Adjusters for assistance on reducing their taxes.”
Herbert G. Pitkowsky, Esq.