Property tax appeal: Should you appeal your property’s assessed value in Calhoun County, South Carolina?
House owners in Calhoun County are completely familiar with the burden of real estate tax; those that have actually invested their lives in locations where these taxes are traditionally high feel the impact more than most. The impact of these taxes can be even worse for those who have lived in their properties for some time, as they have actually witnessed firsthand the taxes increase year after year. But the bad news is possibly overpaying your property taxes and be totally uninformed. Here are some typical factors individuals are overpaying their residential properties tax.
Is your Calhoun County home over evaluated?
A high property assessment is the primary factor that people appeal the dollar amount they are paying on their property taxes. In many cases, individuals feel that the evaluation placed on their residential property does not show the marketplace value must they attempt to offer it today. The simplest method to discover this out is to contact some regional realtors. They ought to have the ability to tell you the series of worths similar residential properties are selling for in your location. Remember, the real value of your property will not be realized till a sale is closed. When you receive your house valuation, you will be offered a 30-day window in which to appeal any assessment. Otherwise, you will have to wait until next year to appeal.
Can you get the actual market value of your home?
It is probably beneficial to get in touch with a regional realty representative or your assessor in Calhoun County, South Carolina. If you feel your property has actually been significantly overvalued, a professional evaluation might prove very cost-effective in the long run
Often people do not know you are not permitted to dispute your property tax bill directly in South Carolina, but you can unquestionably submit an appeal, bear in mind that regardless of 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 need to show at least 3 similar homes that have been assessed at a lower value. The closer these properties are in size and area to yours, the greater the chance of success you will have on appeal
Particular circumstances that may have lowered the value of your home
If there are extraordinary scenarios that straight result in the decrease of your home value and these are not shown in your property assessment, these are clear grounds for appeal. Simply supply proof of these situations, and the appeals process should be straightforward.
You have just recently purchased your home in Calhoun County, South Carolina for much less than the assessed value
If you have proof of the purchase price of your home or you have a recent appraisal that does not reflect the dollar amount your home has actually been assessed at by the assessor, this is clear grounds for appeal. If an expert evaluates your property much lower than that of the assessed value, this is substantial proof to support your appeal. You can always order a new appraisal even though this will cost a few hundred dollars it could be worth it in the end. The bright side is that you do not need to accept a high real estate assessment; you can always appeal and get them decreased while doing so.
How do you appeal your property assessment value in Calhoun County?
Every State has their own requirements for real estate assessment appeals. Something they all have in common; the only groungs that they will accept is that your home has actually been assessed higher than it deserves. As your Calhoun County house taxes are determined 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 house assessment value. Your only avenue of approach is to prove your house is not worth the value the assessor thinks.
Upon receiving your house assessed value, your county will provide you a predetermined window in which to appeal. These can differ considerably 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 due date there’s absolutely nothing you can do, and you will be required to wait a further year for an opportunity to appeal your house assessment!
The fastest and simplest way to submit an appeal in Calhoun County is to do so on the assessment website of your county, town or city. The fees connected with each request can differ depending on the initial value of your house assessed value. The cost 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 make sure that your regional tax assessor has included the correct property information to start with. In many cases, details may be in error such as, houses have actually been raised with basements that do not exist; such examples are wrong and could result in your house value being reduced immediately. The more details that you can gather as to why you feel your house is misestimated, the stronger your case for an appeal.
If there are no clear problems with the details on your property, you will need to find details of comparable homes in your neighborhood that have a lower assessment. This will be the simplest method to prove your case. You will want to discover three or four residential properties that are all the same size as yours, in the exact same location, whose value is much less lower than your property; this will be your grounds for appeal.
In some areas, you’ll be asked to participate in a property appeal hearing, so if this does happen, don’t be intimidated. In general, these hearings are simply called to enable you to present the info you‘ve collected in support of your claim. You will also be allowed to examine any false details that may be on file about your property. You ought to be prepared for this hearing and have all the information you have actually gathered about comparable houses and sales of comparable houses in Calhoun County.
Be prepared for the tax assessor to argue his or her counter-argument. One of the most popular ones here is that your home in question is more modern 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 value and will want to win his/her case by elaborating on the facts to support their position. It’s is always essential to keep in mind that there are no additional charges connected to submitting an appeal; the worst outcome being that your real estate assessment value is the same.
Is it worth submitting an appeal?
If you genuinely feel that your home has been miscalculated, a successful appeal of your Calhoun County real estate assessment could result in substantial savings. If there are just a few hundred dollars of potential cost savings, it may 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 reduce wage loss.
Non-Payment of Property Taxes - Consequences to be Faced
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?