property tax assessment

thisishishouseMarch 11, 2011

Are there any standards in what spaces are factored into property tax assessments? Is property tax simply a factor of square footage, or does the type/location play a factor too? Does it differ from state to state or community to community?

Assuming equal sizes and finishes, would a family/rec room finished over a garage be taxed differently than one in a basement, or attic?

Likewise, is there a taxation difference between a patio, a deck, a covered porch, screen porch, 3-season porch, enclosed sun room, etc?

Is an attached garage taxed differently than a detached garage? What about a barn or utility structure used as a garage?

Has anyone created or altered their designs based on potential tax impact?

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You should ask these questions of your local taxing authority. Many factors come into play and it depends on where you live.

    Bookmark   March 11, 2011 at 2:08PM
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Just about every tax assessor uses local rules.

Virginia has some state level guidance, but the localities (counties & cities) perform the actual assessments.

It is based on an average in an area, not a single value for a sale.

It is typically held slightly lagging (even though it is supposed to be 'market value') to avoid huge numbers of appeals.

Few would be wiling to sell for the assessed value, so appeals tend to not be very productive.

    Bookmark   March 11, 2011 at 3:57PM
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There is a fabulous nonprofit group here in Atlanta called the Fulton County Taxpayers Foundation. I found out about them by accident, and attended one of their classes last month. The class was taught by a former tax assessor, information they provided was very useful in regards to how taxes are formulated, how to appeal if you think your assessment is out of kilter, and how to gather your information for your appeal. Although their name is "Fulton County", the info they provided was valid statewide, and they welcomed anyone from any county in the state.

It was well worth two hours of a Saturday morning to attend, and the class was free.

See if you have a similar group nearby.

BTW, they had no political orientation or agenda that I could determine. They presented purely property tax related information.

Here is a link that might be useful: FCTF Fulton County Taxpayers Foundation

    Bookmark   March 14, 2011 at 11:30AM
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