How to Handle All Tax Appeal Matters

 

When a property owner feels that their municipality has overassessed their property, they need to file a tax appeal. The assessment process varies from state to state and from locality to locality. However, the basic process is usually governed by General Statutes SSSS12-117a and 12-119. These statutes are designed to ensure that taxpayers are afforded a prompt and impartial hearing when they need to appeal their assessments.

 

If you feel that you are overassessed, you should contact your local Board of Equalization and Review. This board is made up of the board of county commissioners. They will hear evidence from you and the legal counsel you have retained. Generally, you will have about a month to present your case and obtain a verdictwho will be able to handle all tax appeals.

 

In addition to the Board of Equalization and Review, you can also appeal your local property taxes to the State Board of Equalization and Review. You can do this through the Department of Revenue Services. Alternatively, you can seek a review of your state taxes by asking the court to do so.

 

In some cases, the IRS will let you dispute the decision informally. This can include requesting testimony and records. In other cases, you may be asked to enter into an installment agreement. Ultimately, these decisions are not final. It is in your best interest to hire a professional to represent you.

 

There are many reasons why you might want to appeal your taxes. For example, you might think your property was overassessed, you are paying too much in taxes, or your taxes are too high. Regardless of your reason for filing a tax appeal, it is important to use persuasive skills to convince the assessor to reduce or eliminate your taxes.

 

Appeals of property taxes are common in many cities. Most jurisdictions allow a tax appeal window of between 30 days and 90 days. Although there are some jurisdictions that extend this period, most will end it at the end of the year. Typically, the process consists of submitting a letter of representation and a Power of Attorney form. Lastly, the applicant must disclose all information related to the market value of the property.

 

For instance, you can compare the property to similar ones in the neighborhood. However, you will need to ensure that the sales of the comparable properties are supported by the current market values of your property. Also, you must avoid complaints about the politics or the taxes that the city has imposed.

 

In most jurisdictions, with the Internal Revenue Service you are required to provide evidence to support the valuation of your property. Depending on the jurisdiction, the evidence might include a sale of the property, a letter from the municipality, a survey, a copy of your lease, or other relevant documents.

 

A formal appeal process allows you to have time to present your case, but if you choose not to do so, you might be denied the right to a hearing. In some cases, you can even waive an oral hearing if you are a business owner. But, you are always encouraged to seek an attorney to assist you with your tax appeal. To get a general overview of the topic,view  here: https://en.wikipedia.org/wiki/Tax.