⭐️How to Protest Your Property Taxes, Build a Strong Case and Understanding Obsolescence. To build a strong case when protesting your property taxes, follow these steps:
1 Gather Evidence: Collect all relevant documents and evidence to support your case. This includes photos showing any issues or differences in your property, estimates for repairs or upgrades needed, and comparables of similar properties in your area.
2 Research Comparable Properties: Find similar properties in your neighborhood that have lower assessed values or similar issues. Use this information to demonstrate that your property is overvalued compared to others.
3 Understand the Assessment Process: Learn how your property was assessed and understand the factors that determine its value. This will help you identify any errors or discrepancies in the assessment.
4 Review Your Property Record Card: Check the details of your property record card for accuracy. Look for any mistakes in the description of your property that could affect its value. Example: square footage
5 Present Your Case: Prepare a clear and concise presentation of your evidence. Include photos, estimates, and comparables to support your argument. Be prepared to explain your case in detail to the assessor or review board.
6 Attend the Hearing: If your protest requires a hearing, make sure to attend and present your case in person. Be respectful and professional, and be prepared to answer any questions the assessor or review board may have.
7 Follow Up: After the hearing, follow up with the assessor or review board to ensure that your protest was considered and to inquire about the outcome. If your protest is successful, make sure to verify that the changes have been made to your property assessment.
⭐️ Here's a simplified explanation of the four main types of Obsolescence:⬇️
1 Functional Obsolescence: This happens when something in your home is no longer useful or wanted. For example, if your house has an outdated layout or lacks modern features like a dishwasher, it could be functionally obsolete. To protest this, you might need to provide photos showing the outdated features and estimates for upgrading to a more modern standard.
2 Economic Obsolescence: This occurs when outside factors lower your property's value. This could be things like a nearby factory closing or an increase in crime in the area. To protest this, you might need to provide evidence of the external factors causing the decline in value, such as news articles or reports from local authorities.
3 Physical Deterioration: This is just wear and tear over time, like a roof that's leaking or old plumbing that needs to be replaced. To protest this, you might need to provide photos of the damage and estimates for repair costs.
4 External Obsolescence: This is when factors outside your property affect its value, like if a highway is built nearby, making your backyard noisy and less desirable. To protest this, you might need to provide evidence of the external factor's impact on your property's value, such as noise level measurements or expert opinions.
          Valuing Newly Built Homes for Tax Protests
For new homes, finding defects to lower your taxes can be tough. Instead, focus on comparing your home to others in the area. If your home has cheaper materials like carpet instead of hardwood floors, you can argue that it's not worth as much as those with fancier upgrades.
To make your case, gather evidence like photos showing the differences, estimates for upgrading your home, and prices of similar homes with better features. This will help support your protest and improve your chances of getting a lower tax bill.
⭐️⭐️⭐️Don’t go in there without facts⭐️⭐️⭐️ #protestpropertytaxes