Property Tax Assessment Appeals
If you purchased your home in southern California within the past 2 1/2 years, you're probably paying to much in property taxes. Don't assume that the Tax Assessor is going to show you any mercy by automatically lowering your property taxes because it does not benefit the county coffers for them to receive less money from you, the taxpayer.
Most counties have an appeals process in place and it would behoove the savvy homeowner to look into it. My office is located in Orange County so I will give you a quick outline on the procedure here in Orange County:
Step 1- Call the Assessor and request an Assessment Appeals Application. They may suggest that you apply for an informal review, and may suggest that it's possible that your tax can be reduced at this point with no further action required. However, it's more likely that you will be given a hearing date, see step 3 below.
Step 2 - Complete the Application and mail it back to the address on the application.
Step 3 - You will be given a hearing date before an Assessment Appeals Board. This board usually consists of 3 individuals who can be an Appraiser, Attorney, Real Estate Broker, or a CPA.
Step 4 - At the hearing, your evidence is presented to the board to prove that your property is valued less than what is has been assessed. Your evidence, at a minimum should be three (3) comparable sales that are similar to your property and must meet the "90 Day Rule" (90 days before or after your assessment date, the closer the better). A professionally prepared, independent appraisal from a licensed appraiser would go a long way in this situation because a full appraisal would answer all of the questions they may, or may not, ask. Study your appraisal because all of the answers will be there at your fingertips. If you so desire, you can invite your Appraiser to attend the hearing with you.
Step 5 - You will be notified of the Board's findings, which can not be appealed, except of course to Superior Court.
Most localities determine your property tax burden based on an ad valorem assessment of the property's value. Sometimes, as a property owner, you get an unwanted surprise in the mail telling you your taxes are going up, and sometimes it may seem as though your assessment is too high.
Often, matters like this can be resolved with a phone call. However, if after discussing your assessment with your local taxing authority you still feel as though your property was overvalued, a professional, independent, third-party appraiser is often your best bet in proving your case. That's where we come in.
There are as many different procedures for appealing assessments as there are property taxing districts, so it's important to enlist the help of a professional appraisal firm that's experienced and trained in the ins and outs of your particular jurisdiction.
Sometimes, you will have a hearing on your assessment appeal and will need for the appraiser you've hired to testify on your behalf. Be assured that at ARROW APPRAISALS INC., we are able to professionally and persuasively testify at appeal hearings. Browse our website to learn more about our qualifications, expertise and services offered.
|
