Good Indication that a Property Tax Appeal Maybe Necessary

Business Articles | January 4, 2009

Learn what is a good intention that property tax appeal may be neccessary.

It is often difficult to determine the indication of needing to file a property tax appeal, but there are signs.

The following are a few good indications that a property tax appeal is necessary:

One indication is when the description of the property does not match. An example of such an error is a town home being labeled as a single family home.
Another indication is when similar homes in the area sell for less than the assessed value. Incidentally, most states, including Indiana, use market value or some variation of market value to determine the assessed value.
Still yet, another indication of a need for property tax appeal is changes in the environment. Change in environment includes rezoning, heavy traffic, drainage problems, building of new industry, freeways, or toxic waste in the neighborhood.
Another indicating factor is the condition of the property. If the property is environmental obscene. The obscenity includes the roof needing replacement, inefficient heating, structural cracking, deterioration, and/or chronic defects.

It is important to not that every year is not an assessed year, but that does not preclude you from filing a property tax appeal.

It is equally important to note that any time an economy is plagued with foreclosures, short sales, and homeowners seeking bail out of homeownership are all good intentions that your property tax bill need a review and may be an appeal.

Written by Serena Brown

http://www.taylorbrownrealestatetalks.com

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR

Education is the key to my continued success in this business because not only do I educate myself to keep up with the latest trends in the market ie short sales, REO, etc, I help my clients do the same. I provide comprehensive information on properties that allow my clients sufficient information for them to know if the transaction will be profitable. I also have a network of insurance agents, contractors, mortgage broker, CPAs, lawyers, appraisers, inspectors ... all important team members for both the homeowner and investor, alike. I have even found time to rally on the behalf of homeowners against unfair property taxes.