What Tenants Ought to Know
Property tax forms a large part of the annuak operating costs. Are you paying too much tax? Few tenants give much thought to this until the tax bill arrives; and then it‘s too late.
Tenants often do not know:
- They can request the assessment notice from the landlord.
- They have the right to appeal the assessment.
- If they do not appeal before 31st January (or the next working day if the date falls on the weekend) then they lose their chance to appeal until the next year.
- It is advisable to have a professional review the notice. Once appealed, BCA can increase the value.
- Whether they are correctly classified.
- Whether the value is fair and equitable.
CAVEAT: For a small tenant it is dangerous to appeal as it will cause a re-assessment of the whole project. With limited information on the rest of the property, it is difficult to proceed with an appeal.
Simply because the assessment does not go up, it does not mean that the assessment is correct.
Should I Appeal?
- Is Your Property Assessment Correct?
- Are You Paying Too Much Property Tax?
- What Can We Do For You?
- General Assessment Review Guideliness
- Assessment Review Checklist
- 7 Reason Why Landlords and Property Managers Should Review Property Assessments
- What Tenants Ought to Know
- Residential Development Sites
- Is Assessed Value Equal to Market Value?