When Connecticut home values go up, it is great news for home sellers. However, it is not such great news when the tax bill comes due. Real estate law gives you an opportunity to make an appeal.
Is the increase reasonable?
You have between 30 and 90 days to appeal an assessment. Rather than putting the issue on the back burner, take action immediately. The first question to ask yourself is whether the increase makes sense.
If the homes on your side of the tracks did not increase in value as much as the homes on the other side, you may have grounds for an appeal. Every year, around 20% to 40% of homeowners successfully challenge the tax increases.
Did you exhaust all money-saving options?
Working with a legal professional may be helpful when trying to make your appeal. For example, a real estate law attorney may tell you if you are taking advantage of all the exemptions you can use. You might also check your property’s listing in the county records to verify that it shows the right square footage and description. If it does not, you do not need to file an appeal but simply request that the clerk correct the error.
Do you need an appraisal?
Sometimes, even homes on the same street have different values. Depending on the problems with your property, it may fetch a much lower price on the open market than your neighbor’s home. An appraisal can document if there are problems, which would then affect the assessment. Ask the appraiser to complete two copies so that you can use one for your property tax appeal.