Property tax assessment appeal: Should you appeal your property assessment in San Juan County, Utah?
House owners in San Juan County are totally familiar with the problem of property taxes; those that have spent their lives in locations where these taxes are typically high feel the impact more than a lot of. The effect of these taxes can be even worse for those who have actually lived in their homes for a long time, as they have actually witnessed firsthand the taxes rise every year. The bad news is perhaps overpaying your home taxes and be completely unaware. Here are some common factors individuals are overpaying their homes tax.
Is your San Juan County home over evaluated?
A high home assessment is the primary factor that people appeal the amount they are paying on their property taxes. In many cases, people feel that the assessment put on their home does not show the marketplace value should they attempt to sell it today. The easiest method to find this out is to call some local real estate agents. They need to be able to inform you the range of worths equivalent properties are selling for in your area. Remember, the actual market value of your property will not be known until a sale is closed. When you receive your house assessed value, you will be given a 30-day window in which to appeal any evaluation. Otherwise, you will need to wait till next year to appeal.
Can you get the real market value of your home?
It is most likely worthwhile to get in touch with a regional real estate representative or your assessor in San Juan County, Utah. If you feel your home has been badly overvalued, a professional assessment might show very affordable in the long run
Many do not know you are not allowed to contest your real estate tax bill directly in Utah, however you can certainly lodge an assessed value appeal, remember that regardless of how you feel about the expense, if you don’t pay, it can result in the foreclosure of your house.
To successfully appeal, you will need to reveal a minimum of 3 comparable properties that have actually been assessed at a lower assessment value. The closer these homes are in size and location to yours, the higher the opportunity of success you will have on appeal
Particular situations that may have minimized the value of your home
If there are exceptional circumstances that directly result in the reduction of your home value and these are not accounted for in your evaluation, these are clear premises for appeal. Simply offer evidence of these scenarios, and the appeals process should be straightforward.
You have just recently bought your residential property in San Juan County, Utah for lower market value than the assessment value
If you have evidence of the purchase price of your home or you have a current appraisal that does not show the dollar amount your house has 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 assessment, this is considerable proof to back your appeal. You can always request a new appraisal although this will cost a couple of hundred dollars it could be worth it in the end. The good news 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 property assessment value in San Juan County?
Every State has their own criteria for home assessment value appeals. Something they all have in common; the only groungs that they will accept is that your residential property has actually been evaluated higher than itreal market value. As your San Juan County home taxes are determined basically by multiplying the evaluated 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 home is valued less than the value the assessor thinks.
On receiving your home assessed value, your county will give 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 absolutely nothing you can do, and you will be forced to wait an additional year for an opportunity to appeal your real estate assessed value!
The fastest and simplest way to submit an appeal in San Juan County is to do so on the website of your county, town or city. The costs associated with each request can differ based on the initial value of your house assessment value. The cost of an appeal varies could be as little as $10 to $100, depending upon where you live.
The first step in the procedure is to ensure that your local tax assessor has included the appropriate home information to start with. Sometimes, 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 lead to your house value being decreased right away. The more details that you can gather as to why you feel your house is overvalued, the more powerful your case for an assessment appeal.
If there are no recognizable issues with the info on your property, you will need to discover information of equivalent 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 3 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 own; this will be your premises for appeal.
In some locations, you’ll be asked to participate in a property appeal hearing, so if this does take place, don’t be frightened. In general, these hearings are simply called to allow you to provide the information you have actually gathered in support of your claim. You will likewise be allowed to take a look at any incorrect information that might be on file about your property. You need to be prepared for this hearing and have all the data you have actually collected about comparable houses and sales of similar homes in San Juan 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 point, 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 crucial to bear in mind that there are no additional charges attached to filing an appeal; the worst result being that your home assessment is the same.
Is it worth submitting an appeal?
If you really feel that your house has been miscalculated, an effective appeal of your San Juan County real estate assessed value could result in considerable savings. If there are just a couple of hundred dollars of prospective savings, it might not be worth your time. You also need to consider that the hearing could be arranged during a workday, which may lead to 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 possibly eliminate wage loss.
Pay Your Property Tax Or Lose Your Property
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.