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Each year, property taxes in the U.S. rise more and more, but over the last few years the resale value of homes and commercial property has dropped significantly. With the ever increasing amounts owed in real estate taxes, it is no surprise most people are looking for a way to lessen their tax burden. When a property tax assessment is implemented, the goal is to determine the market value of the property for taxation purposes. The assessor will look at the property and the exterior of any buildings on the property to assist in determining the value of your property. This system is inherently flawed, especially in places like Allegheny County (Pennsylvania), where the assessments are only done once every three years. As we have all seen, many things can change in the housing market in three years time, resulting in inflated values assigned to your real estate. When inflated values are assigned to your home, the amount of property taxes you owe is higher than it should be. Fortunately, there is an appeals process that is in place for each county to provide you with the chance to argue the assessed value of your property. Through the assessment appeals process, you may be able to have the assessment adjusted, if you can provide enough evidence to show that your residential or commercial real estate is worth less in the market than the amount assigned shows. To accomplish this, you will need to be able to show a current appraisal, documentation of what other comparable homes in your area have sold for, or other evidence that proves the value listed on your assessment is inflated or otherwise incorrect. Most counties have property tax exemptions that can lower your tax bill. Allegheny County, for example, has a Homestead exclusion, a Homeowner Tax Relief Act and a Senior Citizen Property Tax Relief Program that can provide significant savings on your residential property taxes each year. After you have received your property tax assessment, you will have a set amount of time to appeal the assessment. In most counties, the deadline will be in February or March. In Allegheny County, you must submit your assessment appeal form by February 10th for the City of Pittsburgh and Mt. Oliver. When appealing the property tax assessment of a commercial, industrial or residential property, the details are instrumental in winning the appeal. Many people think that they can appeal without the help of a lawyer, only to be disappointed. An experienced attorney will be able to show that the fair market value is lower than the assessment based on the property features, selling prices of similar properties and the best use of the property in question. An experienced Pennsylvania real estate tax attorney will diligently research and leave no stone unturned in gathering evidence to show that the fair market value assigned to your home during the assessment is accurate. Attorney Blaine Jones has extensive experience in helping homeowners receive a fair market value on their Pennsylvania property tax assessment appeal, and is ready to help you save money and protect the long-term value of your home.
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