According to the National Taxpayers Union, up to 60% of property in the United States are over-assessed. Because of these high assessments, property owners are likely to pay higher tax bills. And while property owners are able to contest their assessments annually, less than 5% actually do so.
Tax rolls review period
In New Orleans, residents have until August 20 to contest property tax assessments online. St. Tammany property owners have until August 31. This means that property owners are able to review tax assessments and contest their tax assessment if they are not in agreement with the current value.
Who should contest their values?
If your property value has declined, you should consider contesting your property assessments. Also, if the value on your property does not actually reflect what you can sell the property for at this time, you should also consider contesting the assessment.
What should you bring?
If this applies to your situation, you should submit an appraisal of your property, builder’s estimate or any document that can prove that your assessed value is not correct. One thing you must keep in mind is the Tax Assessor’s office does not set the tax rates, but only assesses the value of the property. Therefore if you don’t agree with the tax rates, you should not contest your assessment on this basis.
For more information, visit http://nolaassessor.com/ for the New Orleans area and http://www.stassessor.org/ in the St. Tammany area.