If a property owner believes their property is overvalued, what should they do?

When a property owner believes their property is overvalued, the appropriate course of action is to collect evidence and file an appeal. This allows the property owner to formally challenge the assessed value of their property based on factual data and persuasive reasons. The appeal process typically requires the owner to gather supporting documents, such as recent sales of comparable properties, photographs that may illustrate property issues, and any other relevant information that substantiates their claim of overvaluation.

Taking this approach is essential, as it provides a structured means to resolve the issue with the local assessing authority or board of review. By presenting clear and organized evidence, the property owner enhances their chances of a favorable outcome, possibly resulting in a reduction of the assessed value and, consequently, lower property taxes.

Simply ignoring the issue could lead to continued overpayment of taxes, while contacting the state government or requesting an immediate reassessment bypasses the established procedure for contesting property valuations. It's important for property owners to engage in the appeals process to ensure their property is assessed accurately and fairly.