Property tax dispute: Should you appeal your property’s assessed value in Bedford County, Pennsylvania?
House owners in Bedford County are totally familiar with the concern of property taxes; those that have actually invested their lives in locations where these taxes are generally high feel the effect more than most. The effect of these taxes can be even worse for those who have resided in their homes for some time, as they have experienced firsthand the taxes increase year after year. The bad news is maybe overpaying your residential property taxes and be totally uninformed. Here are some typical factors people are overpaying their residential properties tax.
Is your Bedford County house over assessed?
A high property valuation is the main reason that individuals appeal the dollar amount they are paying on their property taxes. In a lot of cases, individuals feel that the valuation put on their home does not show the market value must they try to sell it today. The most convenient way to discover this out is to contact some regional real estate agents. They must be able to inform you the series of values comparable homes are selling for in your area. Keep in mind, the actual value of your residential property will not be known until a sale is finally closed. When you receive your property valuation, you will be offered a 30-day window in which to appeal any valuation. Otherwise, you will need to wait up until next year to appeal.
Can you get the actual market value of your property?
It is probably beneficial to contact a local property representative or your assessor in Bedford County, Pennsylvania. If you feel your property has actually been significantly misestimated, an expert evaluation might prove very affordable in the long run
Many do not know you are not allowed to challenge your property tax bill in Pennsylvania, but you can unquestionably file an assessed value appeal, keep in mind that no matter how you feel about the bill, if you don’t pay, it can result in the foreclosure of your house.
To successfully appeal, you will require to reveal a minimum of three comparable residential properties that have been assessed at a lower assessment value. The closer these homes remain in size and place to yours, the greater the possibility of success you will have on appeal
Specific circumstances that may have minimized the value of your residential property
If there are extraordinary circumstances that straight lead to the decrease of your home value and these are not reflected in your house assessment, these are clear premises for appeal. Simply supply proof of these scenarios, and the appeals process should be straightforward.
You have recently bought your property in Bedford County, Pennsylvania for a lower value than the assessed value
If you have evidence of the purchase price of your home or you have a recent appraisal that does not reflect the amount your house has been valued at by the assessor, this is clear premises for appeal. If a professional values your home much lower than that of the assessed value, this is significant proof to back your petition. You can always order a brand-new appraisal despite the fact that this will cost a few hundred dollars it could be worth it in the end. Fortunately is that you do not have to accept a high real estate assessment; you can always appeal and get them reduced in the process.
How do you appeal your house assessed value in Bedford County?
Every State has their own requirements for home assessment value appeals. One thing they all have in common; the only argument that they will accept is that your property has been assessed higher than it deserves. As your Bedford County property taxes are calculated basically by multiplying the assessed value of your home by its locations set tax rate, you do not have any grounds to appeal the tax rate just the property assessed value. Your only avenue of approach is to prove your house is less than the value the assessor believes.
Upon receiving your home assessment, your county will offer you a predetermined window in which to appeal. These can differ significantly from 30 to 90 days so your county appeal deadline is the first thing you want to determine. However, keep in mind if you miss this deadline there’s nothing you can do, and you will be required to wait a more year for a chance to appeal your property assessment value!
The fastest and most convenient way to submit an appeal in Bedford County is to do so on the assessment website of your county, town or city. The charges related to each request can differ depending on the preliminary value of your home assessed value. The cost of an appeal differs could be as little as $10 to $100, depending on where you live.
The first step in the process is to guarantee that your local tax assessor has included the right home details to start with. Sometimes, information may be in error such as, homes have actually been lifted with basements that do not exist; such examples are wrong and might cause your home value being decreased instantly. The more information that you can gather regarding why you feel your home is misestimated, the more powerful your case for an appeal.
If there are no recognizable issues with the information on your property, you will need to discover information of equivalent homes in your neighborhood that are assessed at a lower value. This will be the simplest method to prove your case. You will want to discover 3 or four houses that are all the same size as yours, in the same location, whose value is much less lower than your property; this will be your grounds for appeal.
In some locations, you’ll be asked to participate in a real estate appeal hearing, so if this does happen, do not be intimidated. In general, these hearings are just contacted us to enable you to provide the information you have actually collected in support of your claim. You will also be permitted to examine any false information that may be on file about your home. You need to be prepared for this hearing and have all the data you‘ve collected about comparable houses and sales of similar homes in Bedford County.
Be ready for the tax assessor to argue his/her counter-argument. One of the most popular ones here is that your home in question is more modern-day than the ones you’re comparing it to. Be prepared for such an argument because if you get to this stage, the Assessor believes you are not deserving of a reduction in value and will want to win his/her case by embellishing on the facts to support their case. It’s is always important to bear in mind that there are no additional charges connected to submitting an appeal; the worst result being that your house assessment value is the same.
Is it worth submitting an appeal?
If you genuinely feel that your house has been miscalculated, a successful appeal of your Bedford County house assessment value might lead to considerable savings. If there are just a few hundred dollars of prospective cost savings, it might not deserve your time. You also need to consider that the hearing could be scheduled during a workday, which may result in a loss of revenues. Find out as soon as possible when the hearings take place, and will it be a teleconference or in-person hearing. This way you can make the appropriate arrangements to reduce wage loss.
Pay Your Property Tax Or Lose Your Property
We have many obligations to face in life. And, one of these obligations is to pay different taxes like income tax, property tax and many others. Since we have many obligations and not just these taxes, we sometimes take paying taxes for granted. This will cause a very big problem to non-payers.
Not being able to pay your taxes, (property taxes in particular) may lead to the following problems:
You may lose your property or house. Unpaid property tax leading to delinquent property tax may lead to losing your property. However, there are still second chances given. So, if ever you are given more time to pay your delinquent property tax, find a solution for this right away or you may really end up losing your property. You may only be given two years to settle your unpaid taxes.
If it happens that your property is forwarded to the county treasury, more interests and fees will be added. There will be a collection of four percent administration fee and one percent interest per month.
Your property may be forfeited. This means you still have one year to settle your delinquent tax or you may lose your property altogether or have it foreclosed. Foreclosed properties mean you will not be able to get it back as it will be auctioned off to recover the pending dues.
Before all these problems occur, you should make an effort to settle all pending property taxes. Surely, you do not want to end up losing your property, do you?