How To Start Property Tax Assessment Law

Each year, taxes of the property in the U.S. rise more and more, but in the last few years, the resale value of commercial property and homes has dropped significantly. With the ever-increasing amounts owed in real estate taxes, there is no doubt that most people want a way to lessen their tax burden.

When a property tax assessment is executed, the aim is to regulate the market value of the property for taxation purposes. The assessor will want to look at the property and the exterior of any buildings on the property to assist in the determination of the value of your property. This system inherently flaws, especially in places like Allegheny County (Pennsylvania), where the assessment work is only done once every three years. As we have all witnessed, a lot of things can change in the housing market in three years’ time, which results in inflated values assigned to your real estate. When inflated values are applied to your property, the amount of property taxes you owe is higher than it has to be.

Luckily, there is a process of appeals which is in place for each county to offer you with the chance to argue the evaluated value of your property. Through the process of assessment appeals, you will be able to have the assessment adjusted if you can show enough evidence to declare that your commercial or residential real estate is worthless in the market than the amount assigned shows.

For the accomplishment, you will need to be able to show documentation of what other comparable homes in your area have sold for, current appraisal, or other evidence that proves the value listed on your assessment is inflated or otherwise incorrect.

Most regions have property tax exemptions which can lower your tax bill. For instance, the Allegheny County has a Homestead exclusion, a Homeowner Tax Relief Act and a Senior Citizen Property Tax Relief Program which provide significant savings on your residential property taxes each year.

Once you have received your property tax assessment, you can have a set amount of time to appeal the evaluation. In the majority of the counties, the deadline will be in February or March. In Allegheny County, you need to submit your assessment appeal form by February 10th for the City of Pittsburgh and Mt. Oliver.

At the time of appealing the property tax assessment of a residential, commercial, or industrial property, the details are instrumental in winning the appeal. A lot of people think that they can appeal without seeking the help of a lawyer, only to be disappointed. A professional and experienced attorney will be able to show that the fair market value is lower than the assessment based on the property features, selling prices of similar properties and the best use of the property in question.

An experienced property tax attorney in Pennsylvania will diligently research and leave no stone unturned in collecting evidence to show that the fair market value applied to your home during the assessment is accurate.

Author’s Bio:

Emelia works for property Dealers in Pennsylvania. If anyone is looking to buy a house in Pennsylvania, then she can find the best property for you. She is quite active on any platforms. To know more about her just follow her on Facebook | Twitter.