Most people do not think about their property taxes except for when they get their assessment letter and when they make their payment. Quite often, they simply trust that the tax assessor has done a proper job with the assessment and that the property has been valued properly. However, it is important to realize that this is not always the case. In fact, there can be times when the value for the property is off by quite a bit whether it is a commercial business or a residence.
When the value for the property is higher than it should be, it means that you are going to be paying quite a bit more in property taxes. Naturally, you do not want to spend more in taxes than you should, so you must familiarize yourself with what types of factors are included when valuing the property.How Is the Property Valued?
First, you have to realize that the value of the property is going to be calculated differently based on the type of property it is. If you have a commercial property, meaning that the property has the potential to make money for you, the assessors will base the value on the amount of money that the property could make. This is not always accurate on their part.
When it comes to a residential piece of property, there are many factors to consider. First, they are going to use the location of the property. Different areas and neighborhoods will have higher values, naturally. They are also going to be considering the size of the property and the number of rooms it offers, as well as the property’s age and condition. All of these will affect the value.
In addition, the overall value of the market can play a role. Make sure that you check out the value of comparable residences in the area that sold during the period when the assessor valued your home. They were valuing your home for tax purposes at that time, so the current values of properties are not as important as the home values during that period. They can change over time.
In some cases, the Fulton County tax assessor’s office will have staff that visit properties to help them determine the value. The appraisers often work for the county, but in some cases, they will instead be contractors who are working on behalf of the county. They do not always go into the property, even though they might look around the outside of the property to get a better sense of the condition. Still, this does not always tell the entire story, and it could cause them to have an incorrect valuation for your property.
When you get your assessment letter in the mail, it is very important that you take the time to go through the information and check it for accuracy. In some cases, it might be quite simple to have fixed if you can spot an egregious error.
If you find that there is a problem, make sure that you submit your review by the date indicated on the assessment letter. It can take some time to hear back from them about the review, so try not to worry too much during that time. If they find that they were wrong, they will then provide you with a new value for your property. If you have done your research, then it is likely to be in your favor. However, it is always possible that they found an error that does not work out in your benefit, so be aware.
Other times, they might not agree with your findings. This does not mean that all is lost, of course. You can still file an appeal, although this process tends to take even longer. If you are going to file an appeal, or if you are still considering a review, you will find that it tends to be a very good idea to start working with a professional who can help.
Getting Some Assistance
A professional property tax consultant can help you in a number of ways. First, they can make sure that you are actually paying an incorrect amount on your property taxes. If they are experienced, and they believe that the value of your property is not right, it tends to mean that there is a better chance the Fulton County tax assessor will agree. Simply put, they make sure it is worth your time to file a review or appeal.
In addition, they can make the process much easier. You have other things that you have to worry about, and you want to make sure that you are meeting all of the guidelines and deadlines that are required when it comes to the reviews and appeals. They handle all of the hard work for you, so you can focus on other aspects of your life, or business in the case of a commercial property appeal.
Of course, this does not mean that all of the property tax professionals working in the area are going to be worth your time and money. You need to be careful about who you choose to work with. Make sure that you choose someone who has experience in your location, and who has worked with properties like yours before. For example, some companies are only experienced with residential properties, and they may not be able to offer much help with a commercial property. The opposite could be true, as well. You need to find someone who can help you.
They need to have plenty of experience, good reviews, and it is helpful if they have worked in a tax assessor’s office in the past. It gives them a better idea of what the assessors are looking for and considering when they are valuing properties. Take your time and find a professional who can help to guide you through the process of appealing your property taxes, and you might just find that you could save quite a bit.
