Get tax refund as property value is less

Guest

Hi there,

I'm new to this forum and hope some of you can give me an answer to this.

We're looking to refinance our property so that we payback out credit card debts and some other personal debts. The appraisal of out property came back today. Well, our appraisal came back around $50k less than what they have it assessed for our property taxes for 2008. We paid our taxes according to that in December 2008. Can we get a refund for this over-payment?

sara · Posted: Thu Sep 10, 2009 3:58 am Post subject:

Hi Jessy,

As far as I know, there is a deadline for appealing the valuation and assessment of your property each year. You need to check out whether or not you've crossed that deadline. If you've crossed that deadline, then you do not have the right to appeal for refunds. You can contact your tax collector's office to check out the appeal procedures and the deadline.

Take care.

gmakerley · Posted: Thu Sep 10, 2009 7:55 am Post subject:

please don't forget that taxing authorities assess property periodically in order to set their tax bases. because it is a periodic process, they cannot keep pace with escalating values nor with declining values. the taxes you paid were based on the assessment at the time the tax bills were generated, and the particular mill rate in place at that time also.

as sara noted, you may certainly seek an opportunity to appeal to that taxing authority. i am of the opinion that your appeal may be viewed unfavorably, however.

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