Free Home Value Report Search For Homes

Expert Tips for Home Buyers & Sellers

Our mission at The Gresh Group is to be your best resource for real estate advice. Whether you are a buyer, seller, or investor, our team of professionals can answer any questions you might have about real estate. Subscribe to this blog to get the latest news on local market trends and receive expert tips for buying or selling a home.

Wednesday, March 4, 2015

Is Your Tax Assessment too High?

Selling your home? Get a free home value report
Buying a home? Search all homes for sale  
Northern Virginia Real Estate Agent
Spring is right around the corner, and you know what that means: Tax Season. If you haven't gotten it already, the county will be sending out a property tax assessment for the property you own. They will tell you how much they think the property is worth, so they can tax you accordingly.

Is this the same thing as an appraisal? No. An appraisal is done by the bank, and is a detailed single property valuation. Assessments are based on large numbers of sales that are analyzed to determine values for large groups of similar properties. With an appraisal, you want to get the highest figure possible to increase the sale price of your home.

For a property tax assessment, you want the number to be as low as possible, so you don't have to pay as much in taxes. The reality is that these assessments could be inaccurate, and you might be getting taxed more than you should be.

If you think your property tax assessment is wrong, whether it's too high or too low, give us a call. We can help you go through your options, which can include filing an appeal against the county's assessment. Any appeal has to be done in a timely manner.  We look forward to hearing from you soon!