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Denied on Your Property Tax Protest? The Battle Isn't Finished Yet!
Did your attempt to protest your taxes result in a denial? As both a property owner and a real estate agent I am faced in a similar situation when contesting my recent assessment in June, only to have it rejected. But I'm not stopping there – I'm taking it a step further, and I encourage you to do the same. Dive into my article to discover how you can navigate this process and arm yourself with the knowledge to reclaim money from your property taxes and put it back where it rightfully belongs – in your pocket
For anyone who sent back the protest of property tax valuation back in June, make sure to locate in the mail of the Notice of Determination letter from your county. When I received my mail I found out that the assessors office denied all my request to alter the proposed new 2022 valuation for any of my properties. It felt like homeowners concerns were brushed aside, and we are just stuck with the financial burden of massive increase in property taxes.
Requesting to Review Assessor's Data:
If you want to take advantage of the 72-hour rule, you'll need to contact the assessor's office with a written request. This allows you to gain insight into the properties upon which the assessor based their valuation. This approach might swiftly disprove the assessment if any of the homes used in their report can be substituted with a more accurately priced, lower-value property.
Taking the First Step: Initiating the Appeal:
Reading the notice of determination, I researched the appeal to all homeowners that find themself in this same boat. First step is making time before September 15th to acquire all the necessary info to submit.
Selecting Strong Comparables:
Carefully identify three properties that were similar to your subject property in terms of bed-bath counts, style, and square footage. In most neighborhoods you will want to make sure the comparable sold homes are in the same neighborhood or within 1.5 mile radius. The time frame is critical in making sure that the homes that had sold within the 24 months leading up to June 30th 2022. The closer to the end of June, the better, as this timeframe held more weight in the eyes of the assessors.
Putting Together My Appeal: Overcoming old school print and mail Barriers:
Luckily I have access to a scanner and printer, which proved invaluable in this process. However, it struck me as odd that in this digital age, the appeal process heavily relied on physical documents. The requirement to print two copies of the appeal petition (front and back) and duplicate the same for supporting documents seemed outdated. Additionally, a third copy was needed for my records.
The Power of Supporting Information:
If you have supporting documents that could demonstrate your home's less appealing condition compared to a neighbor's home that sold after a complete remodel, these can be crucial. Maybe you've recently received a bid for necessary home improvements, such as new windows costing $30K. The objective here is to highlight that if the assessor is using a completely remodeled home as a basis, they should consider deductions if your property hasn't been updated in over five years. This strategy can help emphasize the potential differences and justifications for reevaluating the initial assessment.
Moving Forward: Appealing to the County Board:
I believe this is the stage where the assessor will invest more time and energy, as I understand that over half of the denied homeowners won't proceed to this step. Ensure your appeal is prepared and delivered by September 15th. Hopefully, this time around, I we will all receive a fair assessment after presenting compelling information. Please remember that even if I'm denied in this second round, there's a third and final round that we can discuss when or if that time comes about. Don't give up.
My passion for ensuring that I only pay my fair share has been intensified by the multitude of price hikes and the unprecedented inflation we're facing. I want to remind fellow Americans that the government is here to serve us, not the other way around. To those of you who find yourselves in a similar situation, I challenge you not to surrender but to take that extra step forward.
My dedication to ensuring that I pay only my fair share has been reinforced by the numerous price hikes and the unprecedented inflation that surrounds us. It's crucial to remember that we shouldn't bear the burden of excessive taxation to cover the costs of mismanaged government spending. Let's stand firm in paying what's rightfully due as a responsible citizens. If you need help gathering real estate data, I am here for you. Send me an email @ tylerw@coloradomasters.com
For anyone who sent back the protest of property tax valuation back in June, make sure to locate in the mail of the Notice of Determination letter from your county. When I received my mail I found out that the assessors office denied all my request to alter the proposed new 2022 valuation for any of my properties. It felt like homeowners concerns were brushed aside, and we are just stuck with the financial burden of massive increase in property taxes.
Requesting to Review Assessor's Data:
If you want to take advantage of the 72-hour rule, you'll need to contact the assessor's office with a written request. This allows you to gain insight into the properties upon which the assessor based their valuation. This approach might swiftly disprove the assessment if any of the homes used in their report can be substituted with a more accurately priced, lower-value property.
Taking the First Step: Initiating the Appeal:
Reading the notice of determination, I researched the appeal to all homeowners that find themself in this same boat. First step is making time before September 15th to acquire all the necessary info to submit.
Selecting Strong Comparables:
Carefully identify three properties that were similar to your subject property in terms of bed-bath counts, style, and square footage. In most neighborhoods you will want to make sure the comparable sold homes are in the same neighborhood or within 1.5 mile radius. The time frame is critical in making sure that the homes that had sold within the 24 months leading up to June 30th 2022. The closer to the end of June, the better, as this timeframe held more weight in the eyes of the assessors.
Putting Together My Appeal: Overcoming old school print and mail Barriers:
Luckily I have access to a scanner and printer, which proved invaluable in this process. However, it struck me as odd that in this digital age, the appeal process heavily relied on physical documents. The requirement to print two copies of the appeal petition (front and back) and duplicate the same for supporting documents seemed outdated. Additionally, a third copy was needed for my records.
The Power of Supporting Information:
If you have supporting documents that could demonstrate your home's less appealing condition compared to a neighbor's home that sold after a complete remodel, these can be crucial. Maybe you've recently received a bid for necessary home improvements, such as new windows costing $30K. The objective here is to highlight that if the assessor is using a completely remodeled home as a basis, they should consider deductions if your property hasn't been updated in over five years. This strategy can help emphasize the potential differences and justifications for reevaluating the initial assessment.
Moving Forward: Appealing to the County Board:
I believe this is the stage where the assessor will invest more time and energy, as I understand that over half of the denied homeowners won't proceed to this step. Ensure your appeal is prepared and delivered by September 15th. Hopefully, this time around, I we will all receive a fair assessment after presenting compelling information. Please remember that even if I'm denied in this second round, there's a third and final round that we can discuss when or if that time comes about. Don't give up.
My passion for ensuring that I only pay my fair share has been intensified by the multitude of price hikes and the unprecedented inflation we're facing. I want to remind fellow Americans that the government is here to serve us, not the other way around. To those of you who find yourselves in a similar situation, I challenge you not to surrender but to take that extra step forward.
My dedication to ensuring that I pay only my fair share has been reinforced by the numerous price hikes and the unprecedented inflation that surrounds us. It's crucial to remember that we shouldn't bear the burden of excessive taxation to cover the costs of mismanaged government spending. Let's stand firm in paying what's rightfully due as a responsible citizens. If you need help gathering real estate data, I am here for you. Send me an email @ tylerw@coloradomasters.com
