The DeKalb County property tax related annual notice of assessment arrives in the mail every year with its apparently inevitable annual increase. While you can just accept it by budgeting for the expected annual increase in the final tax bill, you can also see it as an opportunity for tax reduction.
When you take the time to review the annual assessment, discuss the possibility of an appeal with a tax consultant, and file the appeal, you can reveal and revel in the significant savings. Keep in mind, too, that these savings will likely apply to the applicable taxable year and for the succeeding years.
What You Will Gain
When successful an appeal against the DeKalb County property tax assessment can generate thousands of dollars in tax savings every year. This is because property taxes are considered as controllable expenses since these can be appealed and reduced for the current and succeeding years.
Think about it: If you can engage in sophisticated income tax planning with an eye toward managing income taxes, then you can certainly also give the same attention to property taxes. Keep in mind that both income and property taxes can make a substantial impact on your bottom line, thus, the equal attention to keep both at a minimum is essential. You will find that a reduced assessment is akin to “found money” that will give a boost to your finances.
Why Valuations Increase
You may be wondering why your property’s valuation increases year after year even when there appear to be no significant changes in its appearance, among other factors. The DeKalb County property tax assessor usually considers new construction, renovation, and demolition as well as error correction (e.g., a building that was left unrecorded) as factors for a change in property valuation. Also, the general state of the local economy and real estate sale prices are considered.
Why Appeal Even With No Changes in Valuation
Even when the annual notice of assessment does not reveal any change in valuation, you should not miss a chance to make an appeal. You may still have an opportunity for property tax reduction in the current tax year, or future tax years. If your value is frozen due to an appeal and values are increasing in your market, you can see the frozen value as tax savings.
Ask an experienced tax consultant with expert knowledge about the specific provisions of the DeKalb County property tax code. With the information, you can make a more informed decision regarding your options for filing the appeal including the grounds for it.
Of course, filing the appeal will have its monetary costs. But rest assured that these are modest costs that will be outweighed by the monetary benefits that will come from a successful appeal.
Just remember that for your tax assessment appeal to have a favorable conclusion, you must hire the best tax consultant in the area. The tax consultant should know the nuances and subtleties of the law as well as a working relationship with the employees involved in the appeals process.
Your luck – nay, your foresight and preparation - in finding the right person for the job can mean the difference between winning and losing your DeKalb County property tax appeal. Get on the task as soon as possible since you should file an appeal on or before the deadline or else you will lose the opportunity.
