Should You Fight Your Tax Assessment?

Attention homeowners in the Madison, Wisconsin area! It’s that time of year again – property tax assessment season.

If you’ve received notice of a reassessment, you may be feeling overwhelmed by the new number. But before you panic, it’s important to understand what your assessment means and whether or not it’s worth fighting.

Your assessment is the value that an assessor has placed on your property, which determines your portion of the local property tax levy. If your assessed value goes up, your property taxes will likely follow suit. However, this isn’t always cause for alarm.

For instance, over the past five years, my assessed value has gone up by 30%, but my taxes have only increased by 17%. Even with a few school referendums in our area during that time, it’s possible to have a significant increase in assessed value without a proportional increase in taxes.

If you believe that your assessed value is inaccurate, you have the right to appeal the assessment. To do so, you’ll need to provide evidence that supports your claim, such as recent sales of similar homes in your area or an independent appraisal of your property.

Check Your Home Value: https://hmbt.co/xzyGZY