Each year, from January through March, the property is assessed for property tax purposes. Generally, the preferred method of local governments is the ad valorem tax assessment. This is the method used to determine the tax for the coming year on the value of your property.

Property Valuations Have Declined

This year values have come down and in some areas significantly. Often, the county assessment of your properties value will not reflect current market realities, resulting in a bigger tax bite. If you believe the assessed value is too high, you have the right to appeal the assessor’s valuation. The appeal procedure varies by county. In some cases appeals can be resolved with a letter to your local assessor. If you are not happy with the appeal decision you may want a professional appraiser for another opinion to strengthen your appeal. 

  When Should You Appeal

The most important thing to understand is that the window of opportunity for an appeal can be less than one month or as much as six months. If you think your home is now overvalued and you want to make the case to lower your taxes you must act quickly.

If you believe the assessor's estimate of your property value is incorrect you may ask someone in the assessor's office

• How does the assessor value property?
• How do you gather information about your property and similar property?
• How does the appeals process work and what are the deadlines?

You can appeal when you can prove at least one of the following:

1. Items that affect value are incorrectly stated on your property record (i.e. wrong square footage).

2. The Full Cash Value (estimated market value) is too high when compared with similar properties in your neighborhood which have recently sold.

3. The income producing capability of the property demonstrates that the estimated market value is excessive.

4. An independent appraisal is significantly lower than the county estimate will help bolster your case.

The Appeals Process

1. File a Petition for Review of Valuation with the assessor's office. The assessor will assign someone to review your petition.

2. A review will be made and may include a physical inspection of the property. If you are not happy with the decision, you still have recourse.

3. If you are not satisfied with the assessor's decision, you may schedule a meeting with the assessor. A decision will be rendered.

4. If the decision is still not satisfactory you can file your appeal with the Board of Equalization

5. Their function is to make sure that your assessment was made a fair comparison to similar and surrounding properties. This procedure is formal and you may be represented by a registered tax agent, a real estate broker or attorney.

6. If you are still not satisfied with the evaluation you may take this to the Superior Court in your county or if it is a small tax you may use the small claims courts. Its reasonable to consult with an attorney to be sure you are representing yourself competently.

Given that homes in some areas have dropped between 10-20%, it is worth a review. Taxes are down due in part to the real estate correction and so counties will be looking to keep the tax base as high as possible.

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