write an application to the chairman of your municipality for reduce of your property tax
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bro in English or in hindi
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Taxes are still one of the certainties in life (it’s nice to know some things haven’t changed since the 18th century), but the same can’t be said for the amount of taxes paid. Thanks to the property tax appeal process, valuation amounts are never set in stone—as long as you take full advantage of your right to challenge an unfair assessment.
The appeal process kicks off with a simple property tax assessment appeal letter. Below is what you need to know about why you might need an appeal, completing and submitting these letters, how to ensure you don’t make the mistake of missing important appeal deadlines, and a sample property tax appeal letter you can use as a reference.
7 Reasons To Submit a Property Tax Appeal Letter
It all starts when you open a valuation notice from the assessor and see a property valuation amount that you believe is too high. Here you have two options: 1) You can pay the too-high tax bill because you think you don’t have time to stage an appeal. (For a simple way to overcome that challenge, keep reading.) 2) You can appeal the valuation and possibly lower your tax bill.
But what are some underlying reasons for that high valuation? To help answer this question, you can request an itemized list of property—called work papers—the assessor used to determine your valuation. You may find that the assessor’s valuation is fair and no appeal is necessary. However, you may find mistakes or disagree with some of the criteria the assessor used to determine your valuation. In the latter case, the following are a few scenarios you may identify during your review of the list.
1. Your valuation includes business personal property you no longer own.
Within the last year, you may have:
Sold assets
Discarded assets
Moved assets to a different location
Notably, you still own the assets you moved, but they should not be included in the valuation for their original locale; instead, the moved assets should be assessed as part of the other location’s valuation.
How do the actions above impact your valuation? Consider this example: A few months prior to your valuation, 10 employees broke their laptops. So you bought 10 new laptops to replace the old ones. In your valuation, the assessor noted your purchase of the new laptops, but also included the discarded laptops. Thus, your valuation would be higher as you are being assessed for property you no longer own.
2. Your valuation includes assets or real property owned by someone else.
You shouldn’t be on the line for personal property you possess but don’t own. Leasing is a prime example. Assume you have a large copy machine you’ve leased for the office—the copier is in your possession, but it’s owned by the company you leased it from. That leasing company is likely responsible for paying taxes on the copier, not you.
Similarly, for real property, the assessor’s records may not be updated to reflect a change in ownership of a location. It may show you’re still the owner of record and, therefore, still responsible for the taxes. A property tax assessment appeal letter can help bring this issue to the assessor’s attention.
3. The assessor valued the same property twice.
Called a double assessment, the assessor may have valued the same real or personal property twice—meaning you could be on the line for twice the correct amount. This costly issue sometimes occurs due to a clerical error in the taxpayer name or address. For example, you may be sent a valuation notice under the names John W. Smith and Johnny Smith, or for 1523 W. Main and 1523 West Main.
4. The assessor under-depreciated your assets.
The more depreciated an item is, the less value it has—and the less you owe come tax time. However, there is room for interpretation, which can lead to some of your personal property being less depreciated than you would want. This may be due to the assessor not having a clear understanding of your assets.
For example, on your tax return, you may have used an ambiguous term to describe your property—e.g., “cash register.” The assessor didn’t know whether the item was a classic register you might find in a small diner or a high-tech point-of-sale system modern bars use. The former version would retain its value from year to year because of its age, while the latter version would likely depreciate heavily from year to year. Assuming the assessor valued it as a classic register—when you actually had a modern register—you would owe more taxes on that asset.