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Has Your Property Tax Assessment Increased Recently?

Frisco Property Tax Appeal on a Desk with a GavelIf you just now got astounded when you opened your Frisco property tax assessment notice, you’re not alone. It is not unusual for property owners to see notable increases in their property tax bills on grounds of home value increases, boundary shifts, and other changes. The exciting news is there are things you can do with regards to an unfair property assessment increase. If the increase is considerably huge, this may give you the basis for objecting to it, precisely if it seems out of line with other properties in your area.

Conceding that objecting to a property assessment increase may seem alarming and nerve-racking, it’s more typically common than you assume. Close to 20% to 40% of property owners can successfully lower their property tax bills by objecting to their property assessment, saving a lot of money in the process. In the sections that follow, we’ll go into how to object to a property assessment increase and hopefully bring down your property tax bill for the forthcoming year.

Step 1: Gather Evidence

If you suppose your tax assessment has increased by mistake, your first course of action will be to contact your tax assessor and have them explain how they determined your property’s value. The increase may be inadvertently caused by something as simple as an assessor inputting the incorrect square footage or the wrong number of bedrooms for your property. If the justification for the increase isn’t very obvious, you will need to carry out further additional fact-finding or research. It would help greatly if you tried to discover a few comparable properties that were recently sold in your area. If they sold for a lot less than your property assessment, that can possibly be solid grounds for your objection. Be sure to check your local laws and regulations.

Step 2: Look Up the Appeals Process

Objecting to a property assessment may look considerably different from county to county. Precisely why, you’ll need to look up the appeals procedure for your exact location. You can know this information on the county website or the tax assessor’s website in most cases. You may even be able to download the forms needed to file an appeal from their sites. Pay particular attention to dates or timeframes. You need to file an appeal within 90 days in lots of places, despite the fact that the number can go down as low as 30 days in other counties. In addition, many locations accept appeals within a very specific window of time. To make it a point you are using your time efficiently and to increase your chances of success, be sure to follow the procedure exactly as it is written.

Step 3: File and Argue Your Case

If you have the documents prepared and have included your evidence, it’s time to file your appeal with the county. Again, make sure to follow the process as outlined on the county or tax assessor’s website. You may have to pay a small filing fee; be certain to do so by using an approved method. You should then be sent a notification if a hearing on your appeal has been scheduled. Remember to attend the hearing, or if you can’t go in person, have a representative go in your place. Your appeal won’t be considered if you don’t show up for the hearing. Keep any required documents and copies; you’ll have your time to argue your case and, if lucky, you’ll have your property assessment adjusted to more accurately reflect the current value.

Objecting to your property assessment increase can help rental property owners keep their expenses under control. Although it does take time, and there are many steps involved that you need to know and follow absolutely to increase your chances of success. If you’d yearn to have Frisco property management professionals by your side to assist you to maximize your rental income, call Real Property Management Legend. We offer lots of valuable services to rental property owners like you that can help you keep your costs down and the rental income richly flowing in. Contact us online or call 214-227-2404 today!

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