Both residential and commercial property owners in Pennsylvania and New Jersey are subject to paying property taxes. These taxes go towards funding schools, their respective municipality, and the county. When deciding how much each property owner should pay in taxes, an assessment is done to determine the value of the property. If a property is sold for a different amount than what it is actually valued at, the taxes may fluctuate. After an assessment is completed, both the property owner and the taxing district have the opportunity to request an appeal. If you choose to request an appeal of your property taxes, you should consult with a qualified attorney. Friedman Schuman Layser has over 40 years of experience assisting clients who wish to request an appeal. Contact our firm today to schedule a consultation with our tax assessment appeal attorneys to discuss your legal matter.
How do I appeal an assessment?
Property taxes are determined based on the fair market value of the property. There are a lot of factors taken into consideration when determining market value, including the property’s “highest and best use,” as well as comparable homes in the same area. Property taxes are determined by multiplying the property’s market value by the county’s predetermined ratio. That number is then multiplied by the millage rate to determine exactly how much money the property owner is taxed. Courts may be required to examine evidence of the “assessment-to-market-value ratios” in comparison with other properties in the neighborhood. This serves to ensure the uniformity requirement is met, meaning that all properties in the district need to be assessed at a similar ratio.
When a property is sold for more than its actual worth, property taxes may increase. When a property owner’s yearly taxes are determined, he or she has an opportunity to appeal the assessment. State assessment laws allow both the taxing district and the property owner to request an appeal if they so desire. Often, property owners request an appeal if they believe the taxes are too high. Conversely, the taxing district can request an appeal if they believe the taxes are too low. When either party requests an appeal, the court handling the matter can determine what the property’s market value was at the time the appeal was filed versus the common level ratio from the previous year. This will help them determine the appropriate tax amount.
Keep in mind, bringing legal action against a municipality may not be easy. Additionally, tax law in Pennsylvania and New Jersey can quickly become confusing, especially if the property owner is not familiar with the process. It is important to retain the services of an experienced attorney for a legal matter of this complexity.
Contact our Montgomery County tax assessment appeal attorneys
If you believe that your tax assessment is incorrect, you may want to consider an appeal. Before deciding to appeal, it is essential that you consult with an experienced tax assessment appeals attorney. The attorneys at Friedman Schuman Layser work diligently for their clients. Our firm is ready to help you through the appeals process and obtain your true tax liability. Contact Friedman Schuman Layser today to schedule a consultation.
