We built a new house last summer and have yet to have our house assessed for property taxes. How do they do this - do they have a right to enter our property or look at our appraisal to see how many bathrooms, etc. we have?
2007-02-13 03:15:34 · 2 answers · asked by JenEstes 5 in Business & Finance ➔ Renting & Real Estate
They will probably assess based on fair market value. So, your tax will be the applicable tax rate (e.g. $1) of $100 multiplied by the fair market value.....
2007-02-13 05:04:29 · answer #1 · answered by boston857 5 · 0⤊ 0⤋
Most states make it your obligation to go into the assessor's office and report all improvements to your property for taxation purposes the assessor then takes the information and appraises the property for taxation purposes using other properties surrounding yours and their mill levy formulas. If you do not report your improvements the law requires them to guess at what you have and in most cases it will be a higher evaluation than if you report it. Most counties now require the assessor to have staff that are licensed appraiser or have had some kind of designation or studies in appraisals. If you do not like the result of your evaluation you can then protest the evaluation when they send you the evaluation which usually comes before the actual tax bill.
Buena Suerte
2007-02-13 11:40:09 · answer #2 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋