Fight property taxes: Should you appeal your property assessment in Aiken County, South Carolina?
Homeowners in Aiken County are fully familiar with the concern of property taxes; those that have actually spent their lives in areas where these taxes are typically high feel the impact more than most. The effect of these taxes can be even worse for those who have lived in their residential properties for a long time, as they have actually seen firsthand the taxes rise every year. The bad news is perhaps overpaying your home taxes and be totally uninformed. Here are some typical reasons people are overpaying their residential properties tax.
Is your Aiken County property over evaluated?
A high home evaluation is the primary factor that individuals appeal the dollar amount they are paying on their real estate tax. Oftentimes, people feel that the valuation put on their home does not show the market value ought to they attempt to offer it today. The easiest way to find this out is to call some regional realtors. They ought to be able to tell you the variety of values similar homes are selling for in your location. Keep in mind, the real market value of your home will not be realized till a sale is closed. When you receive your property assessment, you will be given a 30-day window in which to appeal any valuation. Otherwise, you will have to wait up until next year to appeal.
Can you get the actual value of your home?
It is most likely beneficial to contact a regional real estate representative or your assessor in Aiken County, South Carolina. If you feel your home has actually been significantly miscalculated, a professional appraisal could prove extremely economical in the long run
Most do not know you are not permitted to dispute your tax bill directly in South Carolina, but you can unquestionably file an appeal, bear in mind that despite how you feel about the expense, if you don’t pay, it can lead to the foreclosure of your home.
To effectively appeal, you will require to show at least 3 similar residential properties that have actually been evaluated at a lower assessment value. The closer these properties remain in size and place to yours, the greater the possibility of success you will have on appeal
Specific circumstances that may have actually reduced the value of your home
If there are extraordinary circumstances that directly result in the reduction of your residential property value and these are not reflected in your assessment, these are clear premises for appeal. Just supply proof of these circumstances, and the appeals process should be straightforward.
You have actually recently bought your property in Aiken County, South Carolina 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 show the amount your home has been valued at by the assessor, this is clear premises for appeal. If a professional evaluates your property much lower than that of the assessment, this is significant proof to support your petition. You can always request a brand-new appraisal although this will cost a few hundred dollars it could be worth it in the end. The good news is that you do not have to accept a high property assessment; you can always appeal and get them decreased in the process.
How do you appeal your real estate assessed value in Aiken County?
Every State has their own criteria for house assessed value appeals. One thing they all have in common; the only groungs that they will accept is that your property has actually been evaluated higher than itreal market value. As your Aiken County property taxes are determined basically by multiplying the evaluated value of your home by its areas set tax rate, you do not have any grounds to appeal the tax rate just the property assessment value. Your only opportunity of approach is to show your home is not worth the value the assessor believes.
On receiving your house assessment, your county will provide you a predetermined window in which to appeal. These can vary significantly from 30 to 90 days so your county appeal deadline is the first thing you want to determine. However, remember if you miss this due date there’s nothing you can do, and you will be required to wait a more year for a chance to appeal your real estate assessment!
The fastest and simplest way to file an appeal in Aiken County is to do so on the assessment website of your county, town or city. The fees connected with each request can vary based on the preliminary value of your real estate assessment value. The expense of an appeal varies could be as little as $10 to $100, depending on where you live.
The first step in the procedure is to ensure that your local tax assessor has included the right property information to start with. In some cases, facts on your home may be in error such as, homes have been lifted with basements that do not exist; such examples are wrong and might result in your home value being decreased immediately. The more information that you can gather regarding why you feel your home is overvalued, the more powerful your case for an appeal.
If there are no obvious problems with the information on your property, you will need to find details of comparable homes in your community that are assessed at a lower value. This will be the easiest method to prove your case. You will want to find 3 or 4 properties that are all the same size as yours, in the exact same area, whose value is much less lower than your property; this will be your grounds for appeal.
In some areas, you’ll be asked to go to a real estate appeal hearing, so if this does happen, don’t be intimidated. In general, these hearings are just contacted us to enable you to present the info you‘ve gathered in support of your claim. You will also be permitted to take a look at any false info that might be on file about your home. You must be prepared for this hearing and have all the data you‘ve collected about comparable homes and sales of comparable homes in Aiken County.
Be prepared 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 ready for such an argument because if you get to this point, the Assessor believes you are not deserving of a reduction in assessment and will want to win his/her case by elaborating on the facts to support their case. It’s is always essential to remember that there are no additional charges attached to filing an appeal; the worst result being that your real estate assessment value is the same.
Is it worth filing an appeal?
If you really feel that your home has been miscalculated, a successful appeal of your Aiken County real estate assessment could result in considerable cost savings. If there are just a couple of hundred dollars of potential cost savings, it might not deserve your time. You also need to consider that the hearing could be arranged throughout a workday, which might result in a loss of earnings. 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 minimize wage loss.
Real Estate Tax For 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?