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property tax abatement is a short-term or long-term arrangement in which your property taxes are lowered despite your making improvements to the home.
Property Tax Abatement Basics Property tax abatement is offered to owners of homes, condos, duplexes, multiplexes, apartment buildings, and commercial buildings being converted to residential homes. To qualify, the value of your home must be at least 115% of its value prior to remodeling. Abatement isn't something you will automatically receive. for homeowners and residential developers, it is the Department of Community Development's Division of Neighborhood Development that is solely accountable. The Director appoints a housing officer to legalize investments and to inform the County Auditor's Office of the permitted cases. Property Tax Abatement Application Tax year 2009 applications will be available at the Assessors Office beginning October 1, 2009. The applicant should follow the directions and fill out the application completely. Particular attention should be paid to the reason for the request and the supporting documentation. (i.e.; comparable sales/data errors etc.). Following receipt of an abatement application, the Assessors Office will conduct a review of the property's assessment and the application submitted by the property owner. The Assessor may request additional information or an inspection of the property and the Assessor will make a recommendation to the Advisory Board of Assessors based on the information outlined in the abatement application and the review conducted in response to the application. . |
Income Tax Guide