Property tax dispute: Should you appeal your property assessment in Douglas County, Oregon?
Homeowners in Douglas County are totally aware of the concern of property taxes; those that have actually invested their lives in areas where these taxes are typically high feel the effect more than most. The impact of these taxes can be even worse for those who have resided in their properties for some time, as they have seen firsthand the taxes increase year after year. However the bad news is possibly overpaying your real estate tax and be entirely uninformed. Here are some typical factors people are overpaying their properties tax.
Is your Douglas County property over evaluated?
A high house assessment is the main factor that people appeal the dollar amount they are paying on their real estate tax. In a lot of cases, people feel that the appraisal placed on their residential property does not show the marketplace value must they try to sell it today. The simplest way to discover this out is to call some local real estate agents. They must be able to inform you the variety of worths equivalent properties are selling for in your area. Remember, the real market value of your property will not be known up until a sale is closed. When you receive your home 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 value of your property?
It is most likely worthwhile to contact a regional property representative or your assessor in Douglas County, Oregon. If you feel your property has been significantly misestimated, a professional appraisal might show extremely cost-efficient in the long run
Often people do not know you are not allowed to challenge your property tax bill in Oregon, however you can unquestionably submit an appeal, bear in mind that regardless of how you feel about the expense, if you do not pay, it can result in the foreclosure of your home.
To effectively appeal, you will need to reveal at least three equivalent homes that have actually been assessed at a lower assessed value. The closer these residential properties remain in size and place to yours, the higher the opportunity of success you will have on appeal
Specific circumstances that may have minimized the value of your residential property
If there are exceptional circumstances that directly result in the decrease of your property value and these are not reflected in your property assessment, these are clear grounds for appeal. Just provide evidence of these scenarios, and the appeals process ought to be straightforward.
You have just recently bought your home in Douglas County, Oregon for a lower value than the assessment value
If you have evidence 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 valued at by the assessor, this is clear premises for appeal. If an expert evaluates your home much lower than that of the assessment, this is substantial evidence to back 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 good news is that you do not have to accept a high property assessment; you can always appeal and get them reduced while doing so.
How do you contest your home assessment value in Douglas County?
Every State has their own requirements for house assessed value appeals. Something they all have in common; the only argument that they will accept is that your residential property has actually been evaluated higher than it deserves. As your Douglas County house taxes are computed 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 house assessment value. Your only opportunity of approach is to show your home is valued less than the value the assessor thinks.
Upon receiving your house assessed value, your county will give you a predetermined window in which to appeal. These can vary substantially 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 an additional year for a chance to appeal your real estate assessed value!
The fastest and easiest method to file an appeal in Douglas County is to do so on the assessment website of your county, town or city. The charges associated with each appeal can differ dependent on the preliminary value of your property assessment. The expense of an appeal differs 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 appropriate property details to start with. In some cases, facts on your home may be in error such as, homes have been raised with basements that do not exist; such examples are wrong and could lead to your home value being decreased instantly. The more information that you can gather as to why you feel your house is overvalued, the more powerful your case for an appeal.
If there are no obvious concerns with the information on your property, you will need to find details of similar homes in your community that have a lower assessment. This will be the simplest method to prove your case. You will want to find 3 or 4 homes 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 locations, you’ll be asked to go to a real estate appeal hearing, so if this does occur, do not be frightened. In general, these hearings are simply called to allow you to present the details you‘ve collected in support of your claim. You will likewise be enabled to take a look at any incorrect details that might be on file about your property. You ought to be ready for this hearing and have all the information you have actually gathered about similar homes and sales of comparable houses in Douglas 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 prepared 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 crucial to keep in mind that there are no additional penalties connected to submitting an appeal; the worst outcome being that your property assessment value is the same.
Is it worth filing an appeal?
If you genuinely feel that your home has been miscalculated, a successful appeal of your Douglas County real estate assessment might result in significant cost savings. If there are just a few hundred dollars of potential cost savings, it may not be worth your time. You also need to consider that the hearing could be arranged during a workday, which might result in 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 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?