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Show VALUE FORUM realizing the worth of your possessions Real Property Taxes By Dexter D. MacBride, ASA Executive Vice President AmericanSociety of Appraisers How can you be sure your residential property taxes are fair; what should you do if you are convinced they are not fair? You should know: (1) Total U.S. property assessments assess-ments now produce annually over $50 billions for government govern-ment use. (2) By 1984 there will be some 100 million separate parcels of real estate. (3) The valuation problem (for ad valorem tax appraisers) ap-praisers) is staggering. (4) Equalization of assessments; currency of assessments; gathering, processing, analyzing, analy-zing, documenting the mass of data required all present almost insurmountable tasks for the assessor's office. In view of this workload, your specific assessment could be too high. The surest way to verify your assessment is to get the advice of a professional pro-fessional real estate appraiser . (testedcertified). Virtually all taxing juris-. juris-. dictions have well-defined assessment appeal procedures. . .. First, get the facts about the . value of your property. If you decide to appeal, start with your locai assessor's office. If that office or a tribunal hearing officer -rules against you, you rm; request information for if pealing (generally, followingi Court or City Board hearing recourse to a trial Court i available). Remember, it is your responsibility to know and to protect the current value represented re-presented by your real property. prop-erty. " For Information on tfu Appraisal Profession wriie ASA, Dulles Intl. Airpon. P.O. Box 17265, Washingtm D.C. 20041. |