High Property Taxes? The Process to Appeal Your Assessment
When property taxes are sent out many St. Louis homeowners are shocked to see their bill. What is charged for property taxes can change each year. A drastic increase in price can put some St. Louis homeowners into financial distress. They may not have enough money put back and they do not agree with the amount that is being charged.
If you feel your property taxes are incorrect, there is an appeal process for a property tax assessment. Read on to determine if this is the right path for you.
The Assessment
A property tax assessment is performed by a professional tax assessor. The tax assessor has the duty of evaluating St. Louis properties to see what their current value is. With many areas having an abundance of houses, properties are typically evaluated every one to three years. This assessment is what the government will base the property taxes on for the home.
When there is a large increase in a property tax bill it is likely the St. Louis house is assessing at a higher value. While it is not fun to pay more in property taxes, it is good news for any St. Louis homeowners who are looking to sell. An increased assessed value could mean the house is worth more on the market.
The Appeal
Most property tax bills have the process of how to appeal in the letter. If there is no information or the letter has been thrown away it is okay. Using the internet and a quick search will provide the same information. Searching by county and assessment appeals should bring up the information needed to start the process.
When the property tax bill comes and it seems like it will be too high, it is best to dispute it right away. There will be a certain date at which a dispute will no longer be reviewed. Once this date is past, the St. Louis homeowner will have to pay the higher bill. In this instance, the homeowner must wait until the next year to dispute the assessment.
The Information to Include
While a St. Louis homeowner may not see that their house has changed in value, or they know they have not completed any work to change the assessment, it takes more than their opinion to change the assessment. There has to be evidence of why the St. Louis house is worth less than the assessed value. Using an estimated assessment will not count for this purpose.
There must be concrete evidence that states the house’s true value. A recent inspection or evaluation where the property was found to be worth a certain amount or if the home has been refinanced could work as proof of the house’s true value. Without evidence, the appeal will likely be denied.
If stuck with a high property tax bill that just does not seem right, homeowners should consider making an appeal. There are options for homeowners who are unable to pay their taxes, regardless of a change. Contacting the tax office and requesting assistance can help.
However, the rise in a property tax bill is great for a St. Louis homeowner who wishes to sell. A house that is assessed at more can ask more for a purchase price.