Hanover Property Tax Assessment Appeals Attorney
Some of the most common ad valorem taxes imposed are real property taxes and personal property taxes. While not paid at the federal level, in nearly every state and local jurisdiction in the United States, a tax is charged to the owner or user of property based upon some valuation of that property. Although the rates may appear low, if applied to the fair market value of the property without reduction, these resulting taxes can be significant for both homeowners and businesses. For businesses owning significant personal property, failure to properly categorize, depreciate, and claim exemptions for this property can result in a significant overpayment. Many taxpayers are not aware of available procedural rules limiting increases in assessed values and available exemptions. Worse yet, taxing authorities are quick to try to raise tax rates in times of budget shortfalls and use methodologies that can frequently result in an overvaluation of real estate and personal property. Crepeau Mourges has the experience you need to ensure that you are minimizing the taxes related to owning real estate and personal property.
Common Issues for Real and Personal Property Taxes
Value-based taxes, such as real property taxes and personal property taxes, are one of the main ways that state and local governments raise revenue for needed government services. The framework of these taxes varies from place to place, but there are generally a few main factors involved: valuation, classification, available exemptions and phase-ins, and tax rates. Depending upon the location of the property, there may be a state tax, a county tax, or even a city or town tax. These taxes are sometimes expressed in percentage rates and, other times, are expressed as millage rates. Different jurisdictions impose different exemptions based on the type or use of property, the type of owner of the property, the maximum increase permitted from year-to-year, different rates of depreciation, and other factors. Furthermore, different jurisdictions have different methodologies for the valuation of real property and when new valuations can occur. Finally, depending upon the jurisdiction and type of property, tax assessments are subject to different administrative appeals and litigation paths at different time intervals. Crepeau Mourges is well-versed in the various statutory and administrative frameworks and has helped many property owners to qualify for exemptions and to minimize assessments by advocating in both administrative appeals and litigation.
Example: Real Property Taxes in Maryland
In Maryland, real property tax rates range from just under one percent in some counties to over two percent in Baltimore City. (Personal property taxes are assessed at a different rate, typically much higher than real property taxes.) Assessments are typically made on a triennial basis and are subject to appeal when re-assessed unless an in-cycle appeal is filed in the interim or a basis for re-assessment exists (e.g., recent sale, construction, or change in zoning). Assessments are typically made by mass appraisal and are made at fair market value. Fair market value is usually determined by examining recent comparable sales or by applying a capitalization rate to the income of a commercial property. Property owners must affirmatively raise and renew the application of exemptions, such as used by a government or non-profit entity or for other statutorily recognized reasons. To challenge an assessment, the owner of real property must appeal to the Supervisor of Assessments, then to the applicable Property Tax Assessment Appeals Board, and then to the Maryland Tax Court.
How Our Focus and Experience Can Benefit You
While there are many issues that property owners face in this area, Crepeau Mourges is prepared to provide needed insight. We can help you to plan for and identify available exemptions and explain how additional taxes may phase in over time. We can explain the classification of real and personal property, how different rates may apply, and how depreciation and other techniques can be used to minimize annual taxes. Crepeau Mourges can explain the administrative options available in the event that a property tas assessment is made or if conditions warrant making an in-cycle appeal. Finally, if administrative appeals or litigation benefit a client from a cost-benefit perspective, we will zealously advocate by presenting evidence on valuation, the availability of exemptions, and by using expert witnesses to bolster your case.
The attorneys of Crepeau Mourges set themselves apart from others in this field by combining advanced knowledge of real estate economics, the finer points of valuations and appraisals, and the ability to litigate vigorously for our clients. We have significantly reduced clients’ yearly taxes by planning, applying for, and preserving exemptions and by successfully litigating for the reduction in assessments. Call Crepeau Mourges today to find out more about how we can help you to minimize your tax exposure. Alternative fee arrangements, including flat fees and contingent fees, are available.
5 Reasons To Appeal Your Assessment
Are you unhappy with your property tax assessment and in need of help from a Hanover, MD property tax assessment appeals attorney to appeal your case? If you believe that your assessment is incorrect or too high, then you may want to consider filing an appeal. An experienced property tax assessment appeals attorney can help you understand the process, evaluate your case, and represent your best interests in court. Here are five reasons why hiring an attorney can be beneficial when appealing a property tax assessment; if you want help with an appeal contact an attorney at Crepeau Mourges today!
1) You Think the Assessed Value Is Inaccurate
One of the main reasons to consider a property tax assessment appeals attorney is if you feel that your assessed value is inaccurate. Assessed values are based on market value, and if you feel that yours is too high, it can lead to higher taxes and lower returns. When appealing your assessment, your attorney will look at factors such as the condition of your property, the local market conditions, and how comparable properties have been assessed in the past. Your attorney can make a case to the county tax assessor that your assessed value should be lowered. This could lead to significantly lower taxes and more money in your pocket.
2) The Property Taxes Are Too High
If you believe your property taxes are too high, a Hanover property tax assessment appeals attorney can help. Property taxes are based on the assessed value of the property and the tax rate established by the state. While the assessed value is determined by the county assessor, there can be discrepancies that can result in over payment of taxes. If you feel that your property tax bill is too high, an appeals attorney can help you determine if it is indeed the case. In most cases, a property tax appeal attorney will review all relevant documents related to the assessment, including deed records, sale prices of comparable properties, and other factors that influence the assessed value. With their knowledge of local taxation laws and regulations, they can make a case for you that your property taxes are too high.
3) You Believe the Property Classification Is Incorrect
Every jurisdiction sets its own criteria for how properties should be classified, and it’s possible that yours is being assessed in the wrong category. You may be able to get a reduction in your tax bill if you’re able to prove that the classification is wrong. Your attorney can look into the details of your local tax rules and determine whether or not the classification is accurate. They can then help you build a case that demonstrates why your property should be taxed in a different way. With the right argument, you could be eligible for a lower assessment, which could result in a significant decrease in your overall tax bill.
4) The Tax Bill Was Not Sent to the Current Owner
If you’re a new homeowner, it’s important to remember that you are ultimately responsible for any property taxes due on the property. If you fail to receive a tax bill for whatever reason, it is still your responsibility to stay on top of the payments. It can be incredibly frustrating if the tax bill was sent to the wrong address or never sent out at all. However, the good news is that you can appeal your assessment in this situation. An experienced property tax assessment appeals attorney will be able to help you prove that you did not receive the tax bill. This could reduce the amount of taxes you owe and even prevent any late fees from being added.
5) You Receive a Notice of Sale for Delinquent Taxes
No one wants to receive a Notice of Sale for delinquent taxes. It’s a scary and intimidating prospect that can leave you feeling helpless and overwhelmed. If you receive such a notice, it’s important to know that help is available. The Notice of Sale for delinquent taxes is issued when a property owner has failed to pay their taxes on time. Depending on the state or county where you reside, the delinquency period could be anywhere from 90 days to over a year. Once the notice is sent, the government will give you a certain amount of time to make arrangements to pay the taxes in full, otherwise they will take legal action and put your property up for auction. When facing such a daunting situation, it’s important to turn to a qualified professional for assistance. An experienced Hanover property tax assessment appeals attorney can help you navigate the legal complexities of your situation and provide the best possible outcome; contact one today at Crepeau Mourges.