property tax appeal

A property tax appeal is a process where a property owner challenges the assessed value of their property, which determines how much they pay in taxes. If a homeowner believes their property is overvalued—often due to market conditions or errors in assessment—they can file an appeal with their local tax authority. This involves providing evidence to support their claim, such as recent sales of similar properties or discrepancies in the assessment. If successful, the property's assessed value may be lowered, resulting in reduced taxes owed by the owner.