Property taxes can be a pain in the neck, especially when you own several buildings. It can be challenging to keep track of which building goes with what tax bill and how much they owe. Even worse, if you don't pay these levies on time, you will have to pay a penalty. Real estate tax attorneys understand property tax laws and can sort your issues. Keep reading to know when to hire these attorneys.
1. You Have A Dispute Over an Appraisal
Before your estate is taxed, it needs to be appraised. An appraiser will value it depending on the current market trends. However, if you have issues with the assessment, you can file a lawsuit and have it revalued. This may be necessary, especially if your tax is billed based on a previous evaluation or the real estate market has experienced a significant downturn.
An estate tax attorney can get the balance right. They understand the intricacies of tax laws and can help you receive a fair appraisal. If you believe your valuation is incorrect, they'll file an appeal and have your case heard by an impartial judge. And because they know the current market trends and how they affect property values and tax bills, they'll tell you which of your buildings goes with which bill, how much you owe, and when you need to make payments. The best attorney can also get you discounts on your taxes, saving you money.
2. Authorities Want to Audit Your Estate
Tax authorities may want to audit your estate for various reasons. It could be to find out if you're submitting the correct amount of taxes or calculate what you owe in back taxes.
A property tax attorney can prepare you for an audit. They'll help you gather all the necessary documents, such as your state and federal returns, property tax records, and your will. They'll also defend you during this process, and answer all your questions. Apart from that, these lawyers can keep you from future tax audits by ensuring your will is up-to-date, you're making timely payments on all debts, and you've filed all the necessary documents with the appropriate agencies.
3. You Need a Relief
If you owe the tax authorities some balances, you can contest or negotiate for a relief. This may not be easy because you may have to prove why you can't pay your taxes and find out if you're eligible for the relief. Fortunately, a real estate tax attorney can help you get a relief. They'll negotiate with the tax authorities on your behalf and help you get the best possible agreement.
If you have issues with your property taxes, hire a real estate tax lawyer. These attorneys are experienced in this field and know how to handle tax issues professionally.
