Property Tax Abatement Process Help Needed

From: Jacqueline.D.Richardson@Hitchcock.ORG (Jacqueline D. Richardson)
Subject: Property Tax Abatement Process Help Needed
Date: 08 Dec 98 14:56:48 EST

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Just received my property tax bill and noticed that the assessment has
increased by $12,500.  I called the Tax Assessor to find out why since we
hadn't been notified and apparently when we bought the property in July they
noticed an error in the land valuation and corrected it.


First he suggested that maybe he could get the increase in taxes reversed for
this year since it was sprung on us like this, but then during the course of
our conversation he suggested that we forget that option and that I stop in and
fill out the tax abatement forms to try to get my taxes lowered on a permanent
basis.  He asked that I bring in all my income and expense info as well as any
money we had invested in the property (4 family building) since we bought it
and any we planned to invest in the future in repair-type things.  He said that
once he analyzed the numbers he would go inspect the building.  He also said
that I didn't need to get any comparable properties which I thought was odd.  I
believe this guy is new in this office so its not like he knows the town inside
and out.


Now it's been my  observation from others that have gone through this process
that it is a waste of time as they never seem to get their taxes lowered. 
Therefore, I need some guidance through this process if I decide to do it.  Am
I better off telling him what we have invested in it since we bought it (like
the new furnace) or is that going to bring the value up (purchase price plus
improvements) in his eyes.  


Also, this is really a nice apartment building compared to the average one in
town - can they raise my taxes????  Taxes in this town are extremely high and I
don't want them going any higher.


Any insight into this process would be greatly appreciated.


Jackie

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