Property owners will soon receive notice of the assessed values of their real property for property tax purposes but again will have only a small window of opportunity to challenge them.
As with most other assets, the economy has negatively affected real property values. However, the assessed valuation of real property as determined and used by county assessors for real estate tax purposes may not necessarily portray actual current value of the property. With county directors of equalization mailing assessment notices no later than March 1 and any appeals due no later than March 18, now is a good time to review your real property holdings to determine if you are paying too much real estate tax.
Davenport Evans is well versed in assisting clients with challenging the assessed valuation of their real estate. The process has two phases. During the first, we conduct a physical examination of the property, review applicable records regarding its historical assessed valuation, and confer with appropriate company officials, local county assessors and officials, and certain professional real estate brokers. If necessary, we would visit comparable properties or obtain assessment and valuation information regarding those properties. The analysis will provide you with our recommendation as to whether to contest your assessed valuation.
The second phase arises only if you decide to appeal the assessed valuation. Davenport Evans will handle and direct the appeal process, including the initial filing of the appeal, necessary presentations at scheduled hearings, and, if necessary, the appeal of any decision to appropriate state hearing officers or courts.
Again, there is only a narrow timeframe within which the analysis and appeal can occur. Dan Donohue and Brendan Reilly are available to discuss assessed valuation issues and any other real estate related matters.