Appealing Your Real Estate Tax Assessment in St. Louis
As housing prices continue to rise in St. Louis, Missouri, many homeowners are finding themselves facing higher real estate tax assessments. While rising property taxes can put a strain on your budget, there is a glimmer of hope. Did you know that you have the right to appeal your property tax assessment? In this blog post, we'll review the process of appealing your assessment, ensuring that you have the knowledge and tools to potentially reduce your real estate tax burden.
Before you call your local municipality, it's important to understand the foundation of the appeal process and whether making one is right for you. When appealing your real estate tax assessment, you're essentially challenging the value that the assessor has assigned to your property. If you believe that your assessment is too high or inaccurate, an appeal can provide an opportunity to correct it.
Preparation is Key
1. Understand the timeline
In St. Louis City, the 2023 deadline for filing an appeal is June 23rd and in St. Louis County it’s the second Monday in July (July 10th). Each municipality has its own process and timeline for an appeal so be sure to follow the links above to get clarity.
2. Gather evidence
Before you make your case, gather evidence that supports your claim. This could include recent sales data of similar properties in your neighborhood, documentation of any property defects or damages, and relevant appraisals or assessments from certified professionals. The goal is to provide compelling evidence that justifies a reduction in your property's assessed value. If your property is worth more than the assessment it may be best to lay low.
3. Review your assessment
Carefully review your property tax assessment for any errors or inconsistencies. Check if the assessor has accurately listed the details of your property, such as the square footage, number of bedrooms, and other pertinent features. Mistakes can happen, and rectifying them can make a significant difference in your appeal.
4. Consult professionals
If you feel overwhelmed or unsure about the process, consider seeking advice from professionals, such as real estate agents, tax consultants, or attorneys who specialize in property tax appeals. They can provide valuable insights and guidance tailored to your specific situation.
Documents to Have
When attending your appeal hearing, make sure to have the following documents with you:
Property tax assessment notice: This is the official document you received from the assessor's office detailing your property's assessed value and tax obligations.
Evidence to support your case: Bring all the relevant documentation you gathered during the preparation stage. This includes recent sales data, appraisals, property defect reports, and any other relevant records.
Any additional supporting documents: If your property is in need of significant improvements or repairs, or especially outdated be sure to bring photos and estimates to substantiate your claims. If the assessor has overestimated the condition of your property you may be able to prove its value is less than their assessment. Keep in mind that drawing attention to code violations may result in getting more attention from the city than you want.
Conclusion
While appealing your property tax assessment in St. Louis can be a viable option to potentially reduce your tax burden, it's important to note that it may not be the right choice for everyone. The appeal process can be time-consuming and may not always yield the desired outcome. It's crucial to carefully evaluate your situation and consider the potential benefits and drawbacks before proceeding.
Remember, appealing your assessment requires thorough preparation, attention to detail, and the willingness to navigate the bureaucracy. If you feel confident that your assessment is incorrect or unfairly high, gathering the necessary evidence and following the steps outlined in this guide can increase your chances of success.
However, if you're unsure or have limited time and resources, consulting with professionals who specialize in property tax appeals can provide invaluable guidance. They have the expertise and experience to navigate the intricacies of the process, ensuring that your appeal is handled efficiently and effectively.
As compensation, these professionals usually charge a percentage of the savings they secure for you.
Ultimately, the decision to appeal your property tax assessment rests in your hands. With the right preparation and determination, you may be able to achieve a fair and reasonable outcome, potentially alleviating some of the financial burden associated with rising property taxes.
