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Based in Historic Charleston and
serving South Carolina with proven experience in
appraising residential & commercial properties
throughout the state.
FOR MANY OWNERS PROPERTY VALUES HAVE RISEN
SIGNIFICANTLY IN RECENT YEARS, BUT THEIR TAX BILLS DON’T
ALWAYS HAVE TO DO THE SAME.
REVIEW YOUR PROPERTY TAX RECORDS REGULARLY.
YOU MAY BE PAYING MORE IN REAL ESTATE TAXES THAN YOU
SHOULD.
Simple data errors may result in an “over assessment”.
This happens more than most people realize. For tax
purposes, the County Assessor’s office bases property
values on recent sales of similar properties. In areas
such as historic districts or in neighborhoods described
as having properties where size, quality and condition
vary greatly, it is often difficult to collect accurate
information used to compare properties that have
recently sold with those that have not. Inaccurate
assumptions can be made which result in properties being
“over assessed”. Some tax bills then appear to be unfair
or “out of line” with truly comparable properties
located within the same neighborhood. South Carolina law
allows, and even encourages, property owners to review
their own property tax records annually and to file an
appeal of the value used by the local Assessor if the
data used is inaccurate, causing assessments to be
unfair or inequitable. An incorrect valuation WILL NOT
CORRECT ITSELF. A qualified person must bring the
mistake to the attention of the County Assessor and
argue the case for a reduction in value.
A successful appeal may
effectively lower your annual property tax bill for up
to five years. You can bring your claim for a
reduction in your assessment and thereby reduce your
taxes simply by filing an appeal. Successful appeals are
the result of gathering and submitting supporting data
to the assessor’s office. If the claim is properly
submitted and corrections are made to your property’s
tax records that support a lower assessment, then the
result is often a significantly lower annual property
tax bill for the property owner. A county-wide
reassessment by state law is typically conducted every
five years.
The odds are in your
favor for lowering your annual real estate taxes if
the proper argument with supporting data is presented.
Typically your opportunity to file an appeal is limited
to the first 60 days of each year (with the final day to
submit your initial claim being March 1). This rule is
expected to change with new laws now being considered by
the state legislature which will allow tax appeals to be
made for the current year up to 90 days AFTER tax bills
are mailed (which usually occurs around September 1). A
notable exception to this would be if you receive a
notice of an interim reassessment at some other time
during the year (because of a renovation, addition or
some other material change in the taxable value). In the
event of an interim reassessment, an owner in most cases
may have up to 90 days from the date of the notice to
file an objection. By law, deadlines are strictly
followed, but the rights of property owners to appeal
are also strictly protected.
Henry deSaussure
Copeland is an Insider turned Taxpayer Advocate who
knows how the Assessor’s Office works. He’s an
experienced appraiser who for ten years helped develop
the real estate appraisal data base used in Charleston
and other areas of South Carolina. His efforts more
accurately described historic buildings and real estate
markets located within downtown historic districts. He
also knows where the strengths and weaknesses are within
the system. This system was designed to value otherwise
unique and widely varied properties using a computer
assisted mass appraisal (CAMA) program -- a software
program used specifically by Assessors. He puts his
inside knowledge of the system and unique understanding
of the local market to work for clients to lower their
property taxes. Henry Copeland is a Certified General
Real Estate Appraiser and is licensed by the State of
South Carolina.
State laws relating to
property taxes in SC have changed significantly in
just the last year and more changes are expected to
follow. It is becoming even more important than ever
before to make sure that today’s values recorded by the
Assessor’s Office are accurate. These will become the
basis for the “capped values” that will be used under
legislation now pending as a result of constitutional
amendments approved by SC voters in 2006. If your
original value is too high as a result of incorrect data
or a faulty appraisal, then your property’s assessed
value under a cap may also be too high.
The property owner’s
own knowledge about their property is valuable and
should not be overlooked when checking the accuracy of a
property’s assessment. The Assessor relies heavily on
the information they have gathered on thousands of
properties over many years. Despite the information they
have already collected, the Assessor’s files are not the
only source for data that should be used to develop tax
related appraisals. A property owner is often the best
source of information about the current condition of a
specific property.
An initial consultation
is free. A no-cost and no-commitment review of your
property records can be arranged just to see if you
might have grounds for an appeal. Only if you should
decide to file an appeal and want to be represented by
Henry Copeland would any fee be payable. Rates are based
on the size and complexity of the property which is
being appealed, but typically is only a small fraction
of the amount of tax savings that you may realize if
your appeal is successful in reducing your assessment.
The vast majority of appeals are settled in the initial
stages, often in favor of the property owner. The merits
of an appeal should be clear before it is initiated
which is exactly why a no-cost consultation and review
is the best place to start.
Contact
Henry Copeland at Real Estate Tax Associates to
start the process today!
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