Hi, my name is Jared Hirt, and I am a partner here at Evans Fox. This installment of our monthly series is about property tax.
Many tax bills reflect an increase in the market value of homes. Market value is how much your home would sell for under normal conditions. Market value and assessed value are not always the same amount. The law requires that all homes in the same municipality be assessed at the same uniform percentage.
If you disagree with the market value reflected on your tax bill, you may request a formal review. There are two levels of formal review. The first step is an administrative review, which is commonly known as the grievance process. This step is handled at the municipal level. To initiate the grievance process, you need to submit form RP-524 to your local municipality explaining why you disagree with the assessed value. This must be submitted prior to the grievance day deadline, which for most municipalities is the 4th Tuesday in May; however, each municipality adopts a different day so please check with yours to confirm the deadline. You have the right to present statements and/or documentation in support of your grievance before the Board of Assessment Review. The Board will then issue a decision. If you are unhappy with the Board’s decision, you can pursue judicial review through the Court system.
We at Evans Fox are here to help you in both the administrative grievance process and through a subsequent court proceeding. We look forward to hearing from you and helping you