I have a townhouse that has plummeted in value over 100,000 dollars in four years. in the same time Kendal county has increased my property taxes from 2800 dollars annually to 5500 dollars annually. Everyone I talk to says I have no options. Can I sue them? Should I walk away from the property? Do I have any options here?
1 Answer from Attorneys
There is an appeal process in place to handle complaints where you believe the local township assessor has valued your property too high. The Kendall County Board of Review will hear your appeal but you have to provide EVIDENCE of value to show that the Assessor has valued your home unfairly high. Evidence may include a recent appraisal, comparable properties in your neighborhood which have either sold for values less per square foot of living space than your home is currently valued, or are being assessed at values less per square foot than your home. Or, if you purchased the home in the last couple of years for a price lower than the current value established by the Assessor, that may form a basis for appeal as well. The Board of Review is only open for a very limited period of time each year so you need to contact them to find out when, in particular, you can file your appeal.
Also, call your local township Assessor and have him or her explain to you how and why your home is valued the way it is. It may be that his/her records are incorrect in some way (i.e. wrong square footage of home, wrong number of bathrooms, fireplaces, etc.).
Also, make sure you are receiving the appropriate allowable exemptions on your property's taxbill too. As a homeowner occupying the home, you are entitled to a Homeowner's Exemption. If you are 65 or over, there are also Senior's Exemptions and Senior Freeze Exemptions which may apply as well. The Assessor can help you process those as well.