For many property owners, both residential and commercial, the value of property can be hard to understand. That is, you want your property to be high in value when it's time to sell it, so you get fair market price for it. Yet, you don't want to have a taxable value that's too high. That translates into high taxation that's simply not necessary. The Board of Assessment appeals are a tool you can use to ask for a revision to a recent assessment.
Many have questions about what happens during this process and what their options are. Here are some key questions to consider.
Should You File an Appeal for Your Assessment?
If you view the assessment as incorrect for any reason, it's important to determine if it is worth pursuing a change. The process can be long and, in some cases, the fees can be high. For that reason, it's a good idea to only move forward with the Board of Assessment appeal if doing so seems financially beneficial.
Will a Board of Assessment Appeal Actually Work?
The Cobb County and Gwinnett County appeals boards are both fair organizations in most cases. That means it is possible for you to get fair treatment when filing an appeal. However, for that to happen, you need to be sure you've provided accurate, factual, and detailed information about why you think that it is not right.
How Long Do You Have to File an Appeal for Property Assessments?
That's the key – you do not have a lot of time. You have just 45 days to file an appeal. This period starts right away based on the date on the Annual Notice of Assessment you received. Keep in mind this is not the date you received that notice, but the date it was issued.
Why Did Your Assessment Increase So Much?
There are many factors that play a role in why a property's assessed value will increase. In some situations, it is because the value of property in your area has gone up so much. In other cases, your property may have seen a significant increase in value thanks to adding on to it. There are many factors that can increase, and sometimes decrease, the value of your home. If you're unsure of why, reach out to the Board for more insight.
Board of Assessment appeals are not always a simple process. That's why it can be so important to hire a professional to help you navigate the process with fewer risks. In Cobb County and Gwinnett County, our team at Fair Assessments can help you. We work to help you save money on the property you own. Reach out to us to learn more.