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Today I will be covering a topic that most home owners or land owners in Albuquerque will be familiar with. I will be discussing property taxes and what you can do if you believe that your home is being valued too high.
This property tax notice is a precursor to the property tax bill that you will be receiving later on in November. This notice tells you what the value of your home is at the county level. The value of your home will be directly correlated to the amount of taxes that you owe on the property. Your property tax bill will likely not be ready until November, but right now is a good time to look at the notice you have received.
You should pay close attention to what the estimated value of your home is because if it seems too high, now would be your chance to go and protest your bill. You have 30 days to protest the valuation of your home after receiving the notice.
Keep in mind that your property taxes are only allowed to rise by 3% each year unless you've bought your home or the property in the past year.
There are lots of companies that can help you protest your taxes, and one of them here in Albuquerque is Double Eagle Property Tax Consultants. If you choose to use them, all you have to do is fill out their forms and they will do the rest for you.
If you choose to protest the taxes on your own, you will have to provide evidence to the county assessor in the form of comparable properties with their correlating values. We can help you to provide this evidence and also help to pinpoint a more appropriate value for your home.
Property values in New Mexico do not always match what your property is actually worth. If your property is valued at lower than what you believe it to be worth, then don't worry because that means you will be paying less in taxes on your property. The main thing to worry about that could cost you is if the county assessor values your home far beyond what it is worth.
If you would like to protest your property value and need some comparable data or advice, please be sure to contact me and I would be glad to provide you with advice and assistance.
As always, if you are looking to buy or sell in Albuquerque, then please do not hesitate to contact me and I would be more than happy to provide you with assistance. Call or email today to set up a time for us to speak!
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