How to Lower your Property Tax

In July and August you will be receiving your property valuation notice. This notice declares what the county assessor determines is the market value of your home as of January 1st. Your property taxes will be based on this valuation. If you disagree with the result of the valuation, you only have until September 15th to send an appeal. While you cannot appeal how much you will be taxed, you can disagree with what they claim your home is worth.

Here are the steps to submitting an appeal:

Step #1: Determine the value of your property

Examine the county's valuation and look for obvious errors. Is the square footage accurate? What about the lot size? Errors will alter the appraised value of your property. If there are no errors, it is good to review your valuation with a Real Estate Professional. They can help determine if the valuation accurately reflects the market value of your home.

Step #2: Make an Appeal
For Salt Lake County appeals use this form: BE-01.2010 Appeal Form  You have until September 15th to submit the form by mail or in person to the Board of Equalization located at 2001 South State Street #N3300, Salt Lake City, UT 84190. If you have questions about filling out this form this website will help: How to Appeal

Step# 3: Gather Evidence
If the assessment is incorrect there are 3 forms of evidence you can use to prove the true value:
     1. A professional appraisal (within 12 to 18 months of January 1st)
     2. Your closing papers if you recently purchased or refinanced the property.
     3. Comparables. Recent sales of similar properties in your area. Your Realtor will be able to provide you with a list of comparables.

If you have not received your Valuation for this year you can get it here (you'll need your parcel number): Where's My Valuation?
For any additional questions or to review the market value of your home send me an e-mail or give me a call.