Tuesday, February 10, 2009
Are your property taxes too high?
German Village, along with the rest of the city, recently received property taxes for 2008, payable in 2009. For many, taxes went up considerably on the backs of higher rates and new assessment values.
The Franklin County Auditor bases real estate taxes on a valuation assessment that is meant to mirror the fair market value of a given home. But what happens when the housing market goes down and "fair market value" becomes harder to pin than the tail on the donkey? Fortunately, there is recourse for any residents who feel they are being unfairly taxed, but you'll want to act quickly.
Residents who wish to appeal their tax amount based on what they feel is an unfair valuation of their property may fill out a formal complaint via the Franklin County Auditor's office. The form can be found at this link here, and must be properly filled out and turned in by March 31st, 2009.
Since the auditor's office bases their valuations on current market value, you may be able to bolster your argument by providing recent sales surrounding your home. The auditor's website (linked above) has an excellent search tool you can use to find the most recent selling price of a property. So, if you had noticed some of your neighbors' homes selling this past year, look up their addresses and see if you can put some facts in front of you. If you have a strong argument, the county may re-evaluate your home, and you could end up saving a lot of money.
Have you ever gone though the complaint process? Let us know your story and any tips or lessons you learned in the comments section.
The Franklin County Auditor bases real estate taxes on a valuation assessment that is meant to mirror the fair market value of a given home. But what happens when the housing market goes down and "fair market value" becomes harder to pin than the tail on the donkey? Fortunately, there is recourse for any residents who feel they are being unfairly taxed, but you'll want to act quickly.
Residents who wish to appeal their tax amount based on what they feel is an unfair valuation of their property may fill out a formal complaint via the Franklin County Auditor's office. The form can be found at this link here, and must be properly filled out and turned in by March 31st, 2009.
Since the auditor's office bases their valuations on current market value, you may be able to bolster your argument by providing recent sales surrounding your home. The auditor's website (linked above) has an excellent search tool you can use to find the most recent selling price of a property. So, if you had noticed some of your neighbors' homes selling this past year, look up their addresses and see if you can put some facts in front of you. If you have a strong argument, the county may re-evaluate your home, and you could end up saving a lot of money.
Have you ever gone though the complaint process? Let us know your story and any tips or lessons you learned in the comments section.
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