Residential & Commercial Assessment Appeals
Property taxes are a significant expense for both business and residential property owners. The amount of property tax you pay each year is based on the assessed value of the property. If that assessment comes in at a value that you feel is fair based on current market conditions, there is nothing else you need to do – other than pay the taxes, of course. But what if you feel the assessment is out of line? Filing an assessment appeal will trigger a second look at your property’s value, and Rinaldi & Poveromo can help you with this process.
Residential Assessment Appeals
For the average homeowner who carries a mortgage, it’s pretty easy to forget about property taxes. Chances are a portion of your monthly mortgage payment is placed into escrow to pay for property taxes. That doesn’t mean you aren’t paying the taxes, of course; it just means that you can forget about them because you don’t write a separate check.
It’s wise to pay attention to your tax assessment each year to ensure the amount is appropriate and you aren’t paying more than necessary. Take note of the assessed value that you receive from your local government agency and compare it to what you feel your property’s value would be on the open market. Does the value seem fair? If not, consider a real estate tax appeal to hopefully bring down that assessed value number into a more appropriate range. Assessment appeals can be time-consuming and a bit complex, so consider reaching out to Rinaldi & Poveromo for assistance.
Commercial Assessment Appeals
While it’s smart for the typical homeowner to monitor their property value assessment, it might be even more important for business owners to do so. This is because commercial property is often going to be worth more than residential space, and the taxes involved could be higher as a result. So, if your commercial property assessment comes in too high, you might be spending far more on taxes than you should.
Is a property assessment appeal worth your time and effort as a business owner? If the assessment comes in higher than what you feel is fair market value, the answer is yes. You aren’t just going to pay these taxes once, after all – you are going to pay tax on this real estate year after year for as long as you own the property and run the business. Going through a real estate tax appeal might be a headache you don’t want to deal with at the moment but protecting your company’s bottom line makes it worth it.
Speaking of dealing with this headache, you can always turn the task over to Rinaldi & Poveromo to make sure fighting your assessment doesn’t take up too much of your valuable time. Of course, we have far more to offer than just saving you time – we’ll be bringing our tremendous experience to the table when you retain our services. If you have never dealt with assessment appeals, lean on our knowledge to fight for a successful outcome.
Reach Out to Rinaldi & Poveromo Today
For commercial and residential property owners in Central and Northeastern Pennsylvania, assessment appeals can be an important part of managing expenses. Property tax assessments are not always out of line with the market, but you should keep track of your valuation and take action if something seems off. Contact Rinaldi & Poveromo for a free consultation and to learn more about our services.