Time to appeal your taxes? by Rose Law Group attorney, Evan Bolick

Appeals of Property Tax Values May Be Filed for Tax Year 2015
Evan Bolick

The Tax Year 2015 notices of value have been mailed out by almost all of Arizona’s county assessor offices, including Maricopa, Pinal and Pima Counties. All property owners have sixty days from the date such notices were mailed to file an administrative appeal of the valuation of the property. The clock for an administrative appeal is ticking.

Typically, there are three grounds for challenging the valuation of your property:

1)      Market Approach – If the recent non-distressed market purchase price of your property (or taxessurrounding properties) and/or recent appraisal value varies drastically from the valuation in your notice, then an appeal could be warranted.

2)      Income Approach – If your property produces income, and the valuation of the property does not reflect the true amount of revenue or income generated by the property, then you may have grounds for appeal.

3)      Reconstruction Approach – If it would cost less to rebuild a significantly similar structure on your property than the valuation of the property as stated in your notice, an appeal may be merited.

Your case will be even stronger if two or more of these factors exist.

Also, it is always worthwhile to make sure that the assessor’s office has properly classified your property (i.e., vacant, residential, agricultural, mixed use). An improper classification could possibly raise your tax bill.

If you believe your property has been overvalued for tax year 2015 (values can be found on your notice and the County Assessor’s website), please contact Evan Bolick to discuss a complimentary assessment at ebolick@roselawgroup.com.

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