Property Assessments Are In The Mail!

Well, it's property assessment time and you should be receiving yours in the mail any day now. Statewide, assessments were mailed out on Friday, except for Archulata County, which will be mailed a month later. Property assessments occur every two years and due to the recent economy, I'm sure many homeowners will have concerns and questions about their property assessment.

Here are some things an owner needs to keep in mind when opening and reviewing their property tax assessment:

• Owners can not protest their property taxes. You protest the property value.
• The valuation notice provides an explanation of how a homeowner can file a protest by the June 1st deadline. Usually by phone or mail, although some counties will allow fax, email or on line.
• The easiest to challenge are factual errors (square footage, number of rooms, whether a basement is finished or not).
• The hardest to challenge are home values, especially in a volatile market.
• Assessments are not based on the current market. Assessors use sales data from an 18-month period that ended with June 30, 2008. Sales data after June 30, 2008 can not be used in the appeal.
• The keys to a successful protest are appropriate and similar home comparisons. In other words, like properties. A protest based on the wrong comparable will not get you very far.
• If you need assistance, a call to your Realtor will provide you with more accurate help than some of the on line real estate sites.
• Remember... the current assessment will be for a period between January 1, 2007 and June 30, 2008.