KNOW YOUR RIGHTS: TIPS
FOR CONTESTING YOUR TAX ASSESSMENT
So you received your most recent property tax assessment.
Whoa.
It’s much higher than you would have ever anticipated.
It looks like you’ll have to fork over that extra cash, right?
Well, not exactly. Before you make that hefty payment, consider challenging
your tax assessment. « CHECK
YOUR PROPERTY VALUE »
Keep in mind that a property tax assessment is
made every three years and is simply an estimate of your property
based on the value of the other homes in Bradley Hills Grove,
Burning Tree, Longwood and Bradley Manor. It’s
based on what Montgomery County assessors think your home would sell
for, so don’t confuse assessments with appraisals, which are
conducted for mortgage lending and home buying protection purposes.
When
assessments are made, there are many factors that aren’t
taken into account. For instance, leaky pipes, older electrical wiring
and an aged roof could be offered in a challenge. Here are a few
basic things you as a homeowner can do to keep your assessment closer
to reality. They are:
• Verify the basic facts for your property
are correct: square footage, number of bathrooms,
number of bedrooms, etc. You’d
be surprised how inaccuracies can show up on your assessment.
• Compare other assessments and
recent sales in Bradley Hills Grove,
Burning Tree, Longwood and Bradley Manor.
• Stick to the facts. Find out when your assessment
was made. It could have happened just before or after a sales wave
took place in Bradley Hills Grove,
Burning Tree, Longwood and Bradley Manor. The bottom
line is facts are stronger than emotion in this process, so try not
to get emotional about it.
• If you want to appeal, you can invite a
local assessor to your home to show him/her what physical characteristics
detract from the value of your property, such as that leaky basement
or damaged roof.
• Visit the Maryland
State Department of Assessments and Taxation website for
a complete list of steps to guide you through the appeals process.
• Don’t
be discouraged or give up if you lose the first round. Many
people that go to the second round find they are successful.
For more information about the appeals process, you can also
contact the local assessment office in Montgomery County at 240-314-4510
or contact me directly at 301-530-HOME (4663) or via e-mail at
jane@thefairweatherreport.com.
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