Contest property taxes: Should you appeal your property assessment in Highland County, Ohio?
Homeowners in Highland County are fully familiar with the concern of property taxes; those that have actually invested their lives in locations where these taxes are traditionally high feel the impact more than the majority of. The impact of these taxes can be even worse for those who have resided in their homes for a long time, as they have actually witnessed firsthand the taxes increase every year. However the bad news is perhaps overpaying your property taxes and be completely unaware. Here are some typical reasons people are overpaying their homes tax.
Is your Highland County home over evaluated?
A high property assessment is the primary factor that people appeal the dollar amount they are paying on their real estate tax. In many cases, people feel that the assessment put on their property does not reflect the marketplace value should they attempt to offer it today. The most convenient way to discover this out is to contact some regional real estate agents. They need to be able to inform you the variety of worths equivalent homes are selling for in your location. Remember, the real market value of your property will not be realized till a sale is finally closed. When you receive your property assessed value, you will be offered a 30-day window in which to appeal any appraisal. Otherwise, you will need to wait until next year to appeal.
Can you get the real value of your home?
It is probably worthwhile to call a local real estate agent or your assessor in Highland County, Ohio. If you feel your property has been severely overvalued, a professional appraisal could prove extremely economical in the long run
Most do not realize you are not allowed to dispute your tax bill directly in Ohio, however you can undoubtedly submit an assessment appeal, keep in mind that regardless of how you feel about the costs, if you do not pay, it can result in the foreclosure of your home.
To successfully appeal, you will need to show a minimum of three comparable residential properties that have actually been evaluated at a lower assessed value. The closer these homes are in size and place to yours, the greater the opportunity of success you will have on appeal
Particular situations that may have actually lowered the value of your residential property
If there are exceptional circumstances that straight result in the decrease of your property value and these are not reflected in your house assessment, these are clear premises for appeal. Simply provide evidence of these scenarios, and the appeals process should be straightforward.
You have just recently purchased your home in Highland County, Ohio for much less than the assessed value
If you have evidence of the purchase price of your home or you possess a recent appraisal that does not reflect the amount your home has been assessed at by the assessor, this is clear premises for appeal. If an expert values your property much lower than that of the tax assessment, this is significant proof to back your appeal. 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 at the same time.
How do you contest your house assessed value in Highland County?
Every State has their own requirements for real estate assessment value appeals. One thing they all have in common; the only groungs that they will accept is that your residential property has been evaluated higher than it‘s worth. As your Highland County house taxes are computed basically by multiplying the assessed value of your house by its areas set tax rate, you do not have any premises to appeal the tax rate just the house assessed value. Your only opportunity of approach is to prove your house is less than the value the assessor believes.
Upon receiving your house assessment, your county will offer 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 deadline there’s absolutely nothing you can do, and you will be required to wait an additional year for an opportunity to appeal your house assessed value!
The fastest and simplest method to submit an appeal in Highland County is to do so on the website of your county, town or city. The costs associated with each appeal can differ depending on the initial value of your real estate assessment. The expense 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. In some cases, details may be in error such as, homes have actually been lifted with basements that do not exist; such examples are wrong and could result in your house value being decreased right away. The more information that you can gather regarding why you feel your house is overvalued, the stronger your case for an appeal.
If there are no recognizable issues with the information on your property, you will need to find information of equivalent homes in your community that are assessed at a lower value. This will be the most convenient way to prove your case. You will want to find 3 or 4 residential properties that are all the same size as yours, in the 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 occur, do not be intimidated. In general, these hearings are just contacted us to enable you to provide the info you‘ve collected in support of your claim. You will likewise be permitted to analyze any incorrect details that might be on file about your home. You should be prepared for this hearing and have all the information you‘ve collected about similar homes and sales of similar houses in Highland 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 stage, the Assessor believes you are not deserving of a reduction in assessment and will want to win his/her case by embellishing on the facts to support their position. 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 home has been misestimated, a successful appeal of your Highland County house assessment could result in substantial cost savings. If there are just a few hundred dollars of potential cost savings, it might not be worth your time. You also need to consider that the hearing could be set up throughout a workday, which may lead to a loss of incomes. 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 arrangements to possibly eliminate wage loss.
Are Property Taxes Fair?
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?