Help Fighting Property Taxes?

Question

I am fighting my taxes. This question may sound stupid, but what exactly does the assessed value mean on my property tax bill? If you can define it.

Answer 1

The assessed value is the value placed on your house by the tax assessor - your property tax is calculated on that. It might or might not be what the house is supposedly worth if you went to sell it.

Answer 2

Do NOT assume that you are being overtaxed based purely upon assessed valuation. As an example, if YOU are assessed at 120% of current market value, you have NO complaint if other properties in the taxation municipality are similarly assessed. Assessment valuations are meaningless unless compared against the assessments of similar properties in the taxation district.

Answer 3

particular, you are able to combat the appraised value. property taxes are often based off of appraisal value, no longer what you paid for the homestead. verify out your recent property tax invoice, it probable shows the appraisal value. Many counties have an appraisal district website. try finding it (google mycounty appraisal district) and finding up your private homestead. it is going to coach your private homestead's appraised value. There probable is a type you should undergo protest the appraisal. If there's a "kinds" tab on the web site, click on it and seek for some thing like Protest, or different comparable type. in case you are able to no longer locate the right type, call your appraisal district.

Answer 4

Thats what your town or city feels it's worth if sold. You can ask a real estate agent to give you a price as to the worth and if it's much different, you may want to appeal the assessment.