Joe Pyrah - Daily Herald | Posted: Thursday, July 24, 2008 11:00 pm
There won't be a sequel to last year's home assessment sticker shock.
Utah County is sending out tax notices on Friday, and unlike last year's 25-percent leap, this year is nearly a wash.
More than half the taxing districts in the county are seeing a slight drop and most of the rest are seeing only slight increases.
"I don't think there are too many people surprised that we are below where we were last year," said Taylor Oldroyd, CEO of the Utah County Association of Realtors.
There will be a few property owners in the valley who will see substantial increases in the value of their homes.
The county Assessor's Office tweaked their formulas for Spanish Fork homes and for condos throughout the county, which will see an average increase of 13 percent and more than 20 percent, respectively.
"This year we brought it more in line with everything else," said Assessor Kris Poulson of the condos and Spanish Fork properties.
Homeowners should note that just because the value of the property goes up or down doesn't necessarily mean taxes will follow suit. Taxing entities are forbidden from collecting additional revenue based on increased value without first holding a public hearing. Two school districts, six cities and a drainage district are looking for increases this year. They are as follow:
• American Fork -- Aug. 5 at 6 p.m., 31 N. Church St.
• Saratoga Springs -- Aug. 5 at 7 p.m., 1307 N. Commerce Drive, #200
• Provo School District -- Aug. 12 at 7 p.m., 280 W. 940 North, Provo
• Elk Ridge -- Aug. 12 at 6 p.m., 80 E. Park Drive
• Nebo School District -- Aug. 13 at 6 p.m., 570 S. Main St, Springville
• Woodland Hills -- Aug. 14 at 6:30 p.m.; 412 S. 810 East, Salem
• Mapleton ¬ -- Aug. 20 at 7 p.m., 125 W. 400 North
• Payson -- Aug. 20 at 6 p.m., 439 W. Utah Ave.
• Springville Drainage District -- Aug. 20 at 7 p.m., 73 E. 200 South
The assessments were done from Jan. 1, 2007 to Jan. 1, 2008, which means that any market fluctuations this year won't be reflected in the value you see on the notification.
The good news for homeowners is that the county has yet to see any major effect from the national housing slump. There has been a drop in home prices and number sold year-over-year, but the past six months have seen prices stabilize and sales creep back up, Oldroyd said. The average home goes for $257,000.
But you still don't agree with the county's assessment? If you're going to challenge your valuation, follow these steps:
1) Check for obvious errors.
2) Establish your property's value based on: a) A recent professional appraisal. b) Closing papers if you recently purchased or refinanced the property. c) Documentation of recent sales of similar properties (comparables) in your area.
3) You must file your appeal within 45 days of the date of the Notice of Property Valuation. You can get an appeal scheduled by calling 851-8228.
4) You may represent yourself, have someone represent you, or submit your written statement and documents for consideration by the board of equalization.
5) If you are dissatisfied with the board's decision, the next level of appeal is the Utah State Tax Commission. After that, you'll have to go to court.
6) An appeal with the Tax Commission must be filed within 30 days of the date of the board of equalization decision. You must file your appeal in writing with the County Auditor.
Don't be afraid to challenge. It was a huge group of challengers that brought to light the mortgage fraud in the Riverbottoms area of Provo last year. Poulson said his office hasn't seen any anomalies yet this year.
"Nothing like last year," he said.
Home owners who can't afford to pay their property taxes have options. Tax abatements are available for property owners who meet disability or income guidelines. Information on abatements is available from the county clerk/auditor's office at 851-8225.