2017 Tax Assessments: Appeal?

Many are wondering, is your new higher property assessed value a good thing or a bad thing? Will your taxes go up as a result?

Should you register an appeal to dispute the value increase?

My suspicion is that your 2017 taxes will probably go up. The costs to operate your municipality have probably gone up so the mill rate will probably increase…resulting in an increase in your taxes. But that’s just my guess.

For those thinking of selling this year, will a higher assessed value help convince buyers that your home is worth more? Assuming your 2017 taxes rise, by the time you sell, how much will a tax increase really cost you?

If you’re thinking of staying put for another year or more, if you were to appeal your higher assessment, what are the chances you’d win and even if you did win, how much would your taxes go down based on a lower assessed value? With any appeal there is the risk that you won’t win and that the review actually ends up causing the authority to increase your property value! How much would your appeal experts cost? Do you understand the implications of ‘appraisal tolerance’ and ‘roll quality measures’? Assessments may be deemed acceptable if they are within a reasonable range.

If you’d like to know the actual current market value of your property (what it may be able to sell for in today’s market), juts give us a call. That’s one of the free services we offer our clients.

Now let’s wish for a bit of warmth out there!