How to Save Your House from Tax Sale
Obtain a copy of the assessment., Study your property tax assessment., Analyze whether the value is inflated., Compare the value to comparable neighboring homes., Appeal the tax assessment.
Step-by-Step Guide
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Step 1: Obtain a copy of the assessment.
You should go to your county assessor’s office and request a copy of the assessment on your home.
You can usually get a copy.
At a minimum, you should be able to view it at the office.You have a limited amount of time to object to an assessment.
Accordingly, you probably have to begin the appeal process before you get a notice of a tax sale for delinquent taxes.
If you know that you can’t make your property tax payments, then you should work on objecting to the assessment as soon as possible. -
Step 2: Study your property tax assessment.
Once you receive your assessment, you should study it carefully.
There may be structural errors which you can challenge.
For example, check the following information:the lot size dimension of rooms number and type of fixtures in the home notations about improvements made on the home , You can also object to a tax assessment if you think the assessor has valued the home too high.To check whether you have a valid argument, consider the following:
How much you paid for the home.
You might have paid $150,000 just last year.
The value of the home should not have risen too much.
If you see the home valued at $200,000, then the price could be inflated.
Whether you made improvements.
If you haven’t made any improvements to the property, then the value shouldn’t spike suddenly.
Whether property values have been declining.
Appraisers might not value the property every year.
Instead, they might only value it every two or three years.
If the real estate market has suddenly gone south, then your property’s value might have declined as well. , You should be able to check the tax bill for other homes in your neighborhood.
Make sure to check properties that have roughly the same square footage as yours and are about the same age.If you see that your bill is wildly out of line with the bill for comparable properties, then you have a strong case for challenging the tax assessment.
Also consider how your house might differ from these homes.
For example, your house might be in a less desirable location.
You could point this out and argue that your valuation should be lower than these other houses. , Your assessment letter should tell you how to appeal.The process differs depending on location, so read your letter closely and call the assessor if you have questions.
Generally, you must write an appeal letter or fill out forms and submit them to the appropriate board.
You should involve a lawyer if you need help.
See Appeal Property Taxes for more information. -
Step 3: Analyze whether the value is inflated.
-
Step 4: Compare the value to comparable neighboring homes.
-
Step 5: Appeal the tax assessment.
Detailed Guide
You should go to your county assessor’s office and request a copy of the assessment on your home.
You can usually get a copy.
At a minimum, you should be able to view it at the office.You have a limited amount of time to object to an assessment.
Accordingly, you probably have to begin the appeal process before you get a notice of a tax sale for delinquent taxes.
If you know that you can’t make your property tax payments, then you should work on objecting to the assessment as soon as possible.
Once you receive your assessment, you should study it carefully.
There may be structural errors which you can challenge.
For example, check the following information:the lot size dimension of rooms number and type of fixtures in the home notations about improvements made on the home , You can also object to a tax assessment if you think the assessor has valued the home too high.To check whether you have a valid argument, consider the following:
How much you paid for the home.
You might have paid $150,000 just last year.
The value of the home should not have risen too much.
If you see the home valued at $200,000, then the price could be inflated.
Whether you made improvements.
If you haven’t made any improvements to the property, then the value shouldn’t spike suddenly.
Whether property values have been declining.
Appraisers might not value the property every year.
Instead, they might only value it every two or three years.
If the real estate market has suddenly gone south, then your property’s value might have declined as well. , You should be able to check the tax bill for other homes in your neighborhood.
Make sure to check properties that have roughly the same square footage as yours and are about the same age.If you see that your bill is wildly out of line with the bill for comparable properties, then you have a strong case for challenging the tax assessment.
Also consider how your house might differ from these homes.
For example, your house might be in a less desirable location.
You could point this out and argue that your valuation should be lower than these other houses. , Your assessment letter should tell you how to appeal.The process differs depending on location, so read your letter closely and call the assessor if you have questions.
Generally, you must write an appeal letter or fill out forms and submit them to the appropriate board.
You should involve a lawyer if you need help.
See Appeal Property Taxes for more information.
About the Author
Andrew Reynolds
Specializes in breaking down complex DIY projects topics into simple steps.
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