"Every market is different" as the NAR image campaign commercial advises the public. In some markets, the values of homes have come down by 20-30% or even more. As a homeowner, have you compared the current value of your home to its tax assessment? It could be costing you money.
Each state determines when owners can challenge their property tax assessment and it may not be until the spring but it might be a good idea to start putting together the information that would justify lowering them.
Some states require you go before a review board and others might allow you to first talk to someone in the assessor's office. If you can do it amicably without the indepeneent review, it might save time. If you don't get the results you're hoping for, ask for an appearance before the review board.
Arrive early for your appointment, sign in and pay attendtion to the people who present their cases before you get your turn. You'll learn things to avoid such as statements that cannot be substantiated and critical attacks on the system or process. You'll see how calm, prepared presentations have a way of getting good results.
The board will consider a mistake in the square footage or other material fact which could be grounds for an adjustment. Have proof to justify it such as an appraisal and photos.
Most of the time, taxpayers will depend on sales of homes similar in size, condition and locaiton that have been made in the past three to six months to justify your position for a lower assessment value. Your real estate professional can provide the comparables that really are similar based on their experience in the marketplace.
Realize that the tax assessor's office will have a representative to present comparables also and you need to know why the ones you present are better. They have access to most of the sales through MLS but probably won't have firshand knowledge of special circumstances or have the same understanding that REALTORS have.
Be polite and humble to the review members; they're taxpayers who don't work for the assessor's office and will be deciding your challenge. Don't let personalities come into play. Don't be dressed like you're going to a funeral or to the beach. Your objective is to get your taxes lowered.
Homeowners can certainly hire a representative to make the challenge but if you do your homework and are prepared, you can be successful on your own. It will be very satisfying to get your assessment lowered which will directly impact your property taxes.
Contact your real estate professional for comparables and their advice.