How To Turn Your Lowered Chapel Hill Home Value Into Tax Relief
Is your Chapel Hill home over-assessed resulting in more taxes being paid? Although homes often are, you should be careful about challenging an assessment because it could be decided that it is actually too low. This would result in an increase in your tax liability. The prices of homes may be dropping, but that does not necessarily mean that your Chapel Hill home is over-assessed. There are a few tips that can help if you are planning to appeal an assessment on your home.
There are deadlines for filing an appeal of an assessment on your Chapel Hill home. They vary from one area to another and if you miss the deadline, you lose your appealing rights for that year. Therefore, you will need to make sure of this deadline.
Image courtesy of www.chapel-hill-nc.com
Finding out what your Chapel Hill home is worth is essential. While you may compare your home to other homes in the neighborhood, this generally will not matter to an assessor. An appraisal from an accredited professional will be what is needed if you will be going before a review board. The true value of the home is what an assessor will look at – not what your neighbor’s home is assessed for – when deciding if you are over-assessed. Your neighbor could be under-assessed.
Take a look at the property record information that you receive from the assessor. This could include errors. If a record lists more bedrooms or bathrooms than you actually have in your Chapel Hill home, this could result in the home being over-assessed.
If you are unsure of what you need to do, consider hiring an attorney. This is not absolutely necessary, but when going before a review board, if you feel that you need help, by all means hire an attorney. Make sure the attorney’s payment is based on whether or not you receive tax relief. Often they will charge a percentage of the savings received over several years.
Frequently a homeowner can work with the tax assessor’s office to find a resolution without the need to go before a review board. The tax assessor’s office can tell you what to do to appeal an assessment. If you feel that your Chapel Hill home is over-assessed, your local assessor’s office can be a beneficial source of information.
Related posts:
Follow Us!