Did you get hit with a big tax bill this year that you weren’t expecting? If so, you are not alone. Changes in the tax laws and the housing market have had homeowners’ tax bills going up and down all over the place lately. The Gwinnett County tax assessor has to take all of these things and more into consideration when determining your bill. Let’s take a look at what things can cause tax bills to go up, and what you can do about it.
What Increases Property Taxes in Gwinnet County?
So the tax assessor’s bill hit you a bit hard this year. If your tax bill went up, it means one of two things: either the tax rate went up (something you should have been able to vote on as a county resident), or your property value went up. The second is far more likely, but what does that mean?
Every year, the tax assessor takes a look at all the properties in the county. They use old data from when the house was last sold, data about houses selling in your area right now, and information about your house’s current state, to determine how much you could list it on the market for if you wanted to sell it. This number is the house’s value, and it’s the number that your property tax is based on.
If this number went up from the last year, many things could have happened. Did you recently do any improvements to your home? For example, if you added a fence, screened in the porch, added a second bathroom, finished the basement, and so on, this could all make the value go up. Keep in mind that if you have an older home, tax assessors often assume that you have updated the appliances to modern versions – even if you have not.
Another thing that may have happened is that comparable houses around you may have started selling for more than they used to. Perhaps several of your neighbors recently got great deals when they sold their homes, and this has made it seem like homes in your area could sell for higher amounts.
Another thing that could have happened is that the area itself improved. The crime rate went down, the school rating went up, a new park was installed, a new tax break was enacted that encouraged people to move to the area, and so on. This make the area more desirable, which means you could sell a house there for more.
If you live in an upscale area where people want to live, your property tax bill will be higher. If the community you live in has some rapid growth over a year, and suddenly it seems like there are more people moving in than there are houses for sale, that’s a sign that your Gwinnett County tax assessor will be looing at.
On the other hand, if you live in an area where the community is declining, your property value could go down, so keep that in mind as well. Having a high property tax may not be great for your wallet, but it can be a symptom of good things. Living in a growing community with lots of amenities and good schools may be worth the extra tax bill.
What Can You Do About a High Tax Bill?
If you believe that your home has been overvalued, you can appeal the bill. You have to do this quickly, because the deadline for appeals is 45 days after receiving the bill. The first step is to send a letter to the Gwinnett County tax assessor letting them know that you intend to appeal.
At that point, they will assign you a case number, and give you a date for a hearing. You have until that hearing to put together a very convincing argument as to why your home should be valued less. You’ll need market data from homes that have sold nearby recently, you’ll need information about the state of your home, you’ll need information about the area you live in, and you’ll need information about your lot (the land your house sits on). The hearing board will ask you questions about the local market and other legal things, so you have to be very prepared. You may get up to a full year to do all this research, or your hearing could be within the month.
If your appeal is denied, you can choose to appeal again. However, if you go through a second hearing and are still denied, you must pay the bill. If you do get your appeal approved, the Gwinnett County tax assessor may not change the value of your home for the following two years.
Working With a Professional
There are no penalties to appealing your tax bill and being denied. However, your wallet will still feel the pain. If you want to give yourself the best chance at success with an appeal, the best thing to do is to work with a professional.
At Fair Assessments, we have 20 years of experience helping our clients save money on their property tax bill. Over 80% of our clients have their appeal approved. What we do is make the process easy for you. We file the appeals letter, do all the research regarding your home’s true value, and prepare your argument for you for the hearing. Then we attend the hearing with you to assist you with the questions.
We may also be able to help you save even more by finding exemptions you weren’t aware you qualified for.
Working with us has the potential to save you thousands, or even hundreds of thousands, on your personal property tax bill. Our fees are based on your home’s value, and are all under $600. For a small percentage of what you could save, you’ll have the best chance at success when you work with us.
To learn more about your tax bill and the appeals process, contact us at info@Fair-Assessments.com.
