Many homeowners assume that if their property Assessment Value is reduced, their property tax bill should automatically be lower than the previous year. Unfortunately, it’s not always that simple.

Property taxes are calculated using two main factors:

• Your property’s Assessment Value or Taxable Value
• The tax rates set by local taxing authorities

Even if your Assessment Value is successfully lowered through a Property Tax Grievance, tax rates themselves may increase from year to year. Because of this, comparing one year’s property tax bill directly to another may not accurately reflect the savings generated by a property tax reduction.

However, one thing remains true: lowering your Assessment Value helps protect you from paying even more in property taxes than you otherwise would have.

Filing a Property Tax Grievance helps ensure that your taxes are based on a fair Assessment Value and can lead to significant long-term savings over time.