The following are some common questions asked by homeowners of Fair Tax Assessment, Inc. and its area representatives.

 

What is “assessed value”?

Assessed value is the price placed on land and buildings by the government for use in levying property taxes.  The assessed value of a property is rarely the same as the appraised or market value.

 

How am I notified of my property’s value?

In most states, a value change notice is mailed to you each time the property is revalued for tax purposes.  The change notice typically will show both the previous and new values for the real estate.

 

Are property taxes the same as millage rate?

There are multiple terms for property taxes.  The most common are property tax, millage rate, mill rate, and ad valorem tax.

 

Do you guarantee that your service will lower my taxes?

No, Fair Tax Assessment, Inc. is a homeowner education company.  We provide our clients with the tools and information necessary to appeal an unfair property tax assessment.

 

Should I continue to pay my current property taxes while an appeal is in process?

Yes, even if you are certain your future payments will be lowered, you should continue to pay your property taxes to avoid penalties and liens.  It should be noted that in most states appeals occur six months or more prior to the period relevant for the property tax assessment detailed in the most recent value change notice.

 

Can I appeal the property tax assessment for condominiums, investment homes, manufactured homes, second homes, and land?

Yes, Fair Tax Assessment, Inc. can typically provide a Tax Assessment Analysis for all of the above types of real estate. The most difficult of the above to determine a fair market value for is raw land.

 

Can I do this myself?

Yes, a homeowner can attempt to complete the research necessary to file a property tax assessment appeal on their own, however without years of experience valuing homes they are likely at a competitive disadvantage to the property appraisers employed by the government.

 

Do you sell my information?

No, any information provided to Fair Tax Assessment, Inc. will only be used for purposes of the project we are hired to complete on your behalf.

 

Does appealing my property tax assessment lower the value of my property?

No, there is no correlation between a property’s tax assessed value and the value the property will generate from a willing buyer in the residential real estate market.    Historically, tax assessed values have trailed market values in the incorporation of information that effects value.  Market values are used by the government to establish tax values.  Not the reverse. 

 

I pay my property taxes along with my mortgage; will appealing my property tax assessment effect my monthly payment?

No adjustment will immediately occur to your monthly payment.  However, if your property tax assessment appeal is successful, the amount of your payment will change to reflect your new, reduced property tax liability.

 

If I submitted an appeal last year should I use your service again this year?

If the information provided by Fair Tax Assessment, Inc. assisted you with your appeal and you believe your property tax assessment is still not in line with the market value, it may be in your best interest to order another Tax Assessment Analysis report.

 

Will you file the appeal paperwork?

No, Fair Tax Assessment, Inc. provides you with the tools and information to file an appeal.  We do not facilitate the appeal.  However, our field representatives and the resource center in our website can likely guide you in the right direction.

Fair Tax Assessment, Inc. periodically updates this section of our website to contain questions asked by our customers that we feel will benefit others.  If you have a question you would like us to consider for inclusion on this page, please email it to question@fairtaxassessment.com.