Contest property taxes: Should you appeal your property’s assessed value in Anderson County, South Carolina?
Homeowners in Anderson County are totally aware of the concern of property taxes; those that have invested their lives in areas where these taxes are generally high feel the effect more than a lot of. The effect of these taxes can be even worse for those who have resided in their homes for some time, as they have actually seen firsthand the taxes increase year after year. The bad news is possibly overpaying your residential property taxes and be entirely uninformed. Here are some common factors individuals are overpaying their properties tax.
Is your Anderson County home over evaluated?
A high home evaluation is the main reason that individuals appeal the amount they are paying on their property taxes. In many cases, individuals feel that the valuation put on their home does not reflect the market value should they try to sell it today. The simplest method to find this out is to call some local real estate agents. They must have the ability to tell you the range of values comparable residential properties are selling for in your area. Keep in mind, the real value of your home will not be realized till a sale is finally closed. When you receive your home valuation, you will be given a 30-day window in which to appeal any assessment. Otherwise, you will have to wait till next year to appeal.
Can you get the real market value of your home?
It is most likely worthwhile to call a regional realty representative or your assessor in Anderson County, South Carolina. If you feel your property has been badly miscalculated, a professional evaluation might prove really cost-effective in the long run
Most do not know you are not allowed to challenge your real estate tax bill directly in South Carolina, however you can undoubtedly submit an appeal, keep in mind that no matter how you feel about the expense, if you don’t pay, it can result in the foreclosure of your home.
To effectively appeal, you will need to show at least 3 similar properties that have actually been assessed at a lower assessed value. The closer these homes are in size and location to yours, the greater the opportunity of success you will have on appeal
Specific circumstances that may have actually minimized the value of your home
If there are extraordinary scenarios that straight lead to the reduction of your home value and these are not accounted for in your house assessment, these are clear grounds for appeal. Simply provide evidence of these scenarios, and the appeals procedure ought to be straightforward.
You have just recently bought your property in Anderson County, South Carolina for less than the assessment value
If you have proof of the purchase price of your home or you possess a recent appraisal that does not reflect the amount your house has actually been valued at by the assessor, this is clear premises for appeal. If an expert evaluates your residential property much lower than that of the assessed value, this is considerable proof to support your appeal. You can always order a new appraisal despite the fact that this will cost a couple of hundred dollars it could be worth it in the end. The bright side is that you do not have to accept a high real estate assessment; you can always appeal and get them lowered in the process.
How do you appeal your house assessment in Anderson County?
Every State has their own requirements for real estate assessed value appeals. One thing they all have in common; the only argument that they will accept is that your residential property has been evaluated higher than it‘s worth. As your Anderson County house taxes are computed basically by multiplying the assessed value of your house 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 show your home is not worth the value the assessor believes.
Upon 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, keep in mind if you miss this deadline there’s absolutely nothing you can do, and you will be forced to wait an additional year for a chance to appeal your home assessed value!
The fastest and simplest way to file an appeal in Anderson County is to do so on the website of your county, town or city. The fees connected with each request can vary based on the initial value of your house assessed 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 process is to ensure that your local tax assessor has included the correct home details to start with. In some cases, information may be incorrect such as, homes have actually been raised with basements that don’t exist; such examples are wrong and could lead to your house value being reduced immediately. The more information that you can gather as to why you feel your home is misestimated, the stronger your case for an appeal.
If there are no obvious problems with the info on your property, you will need to find details of comparable homes in your neighborhood that have a lower assessment. This will be the most convenient way to prove your case. You will want to discover three or 4 residential 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 premises for appeal.
In some areas, you’ll be asked to go to a property appeal hearing, so if this does occur, do not be frightened. In general, these hearings are just contacted us to permit you to present the info you‘ve collected in support of your claim. You will also be permitted to analyze any false info that may be on file about your home. You should be prepared for this hearing and have all the information you‘ve collected about comparable homes and sales of similar homes in Anderson 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 concern is more contemporary than the ones you’re comparing it to. Be ready for such an argument because if you get to this stage, 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 position. It’s is always important to bear in mind that there are no additional penalties attached to submitting an appeal; the worst outcome being that your property assessment value is the same.
Is it worth submitting an appeal?
If you truly feel that your home has actually been misestimated, an effective appeal of your Anderson County real estate assessment value might lead to considerable cost savings. If there are only a few hundred dollars of potential savings, it may not deserve your time. You also need to consider that the hearing could be scheduled during 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 possibly eliminate wage loss.
Non-Payment of Property Taxes - Consequences to be Faced
The property taxes are the largest bills that are received every year. Property taxes are paid in order to fund the local government for necessary programs such as schools, and for maintaining roads in the locality in which we live in. What if the bills are too high and one cannot afford to pay the tax this year?
First thing to be done is to look into the assessor of taxes' valuation of the home. Whatever is determined by the assessor of taxes will have to be paid as property tax. However if you think that your home has been valued more than the required amount, you can make an appeal to reconsider the valuation. If the appeal is in your favor then you will need to pay only the lower and newer valuation for your home. This will bring down your tax bills greatly.
Next, see to that if there are exemptions you are not taking. In many places, there is a homestead exemption that can be taken on your primary home. This will definitely reduce your bills. However if you own more that one property, then you will be able to take the homestead exemption only on you main residence. This homestead exemption can be taken at the local tax office if they are permitted. There is also a hardship exemption but it is offered on a yearly basis.
Also you need to request for a plan of payment for all you properties. Most of the local offices will give you the plan of payment that allows you to pay the taxes over a period of time. In some places, you can pay the taxes in installments until you have completely paid the taxes without needing to make a request for a plan of payment. This can be done to prevent tax foreclosure of your property. Once your property is tax foreclosed then it is not possible for a plan payment to be set up.
If the property taxes are not paid on the due dates it will lead to accrue penalties and interest will start to build up on the unpaid balances even though you have a payment plan. If the taxes are not paid a long period even after the extended time then your property will be tax foreclosed. Different states handle these foreclosures differently. However in all states there is particular point at which the property is seized. Then they sell it off to the local government to in order to pay the delinquent tax. Mostly the government will work with these tax payers to ensure that the properties are not seized.