Yes, if you choose not to pay your taxes as they become due, you will not receive any applicable discount and if you are unsuccessful in your appeal to the Board of Property Tax Appeals, you will be charged interest on the past due tax at 1 1/3% per month as required by statute. If you pay your taxes and are successful in your appeal to the Board of Property Tax Appeals, you will receive a refund, plus interest of 1% per month from the date of payment. If you are successful in your appeal, the Tax Collector will issue a refund or adjust your taxes based upon the Board of Property Tax Appeals (BOPTA’s) order – no action is necessary on your part. Allow approximately 6 to 8 weeks from the date of the order for this adjustment.
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With the enactment of Measure 50 in 1997, there is no link or connection between the Real Market Value (RMV) and the MAV, except for the first year “new property” is placed on the tax rolls. RMV is adjusted up or down each year based on market conditions. The Maximum Assessed Value generally increases by 3% per year (per statute) unless changes are made to the property. You pay taxes on the lower of the two values and this is called the Assessed Value.
You will most likely be contacted by a representative of the Assessor’s Office prior to the hearing, as part of the normal process of reviewing the property’s value and addressing any issues expressed on your appeal form. When your property is under appeal, the Assessor becomes a party of the value dispute, and because of this will try to render a fair and impartial review of the value. Be patient. All appeals to the Board of Property Tax Appeals will be heard within the required period allowed by law.
This is called a stipulation. This stipulation can then be forwarded to the Board of Property Tax Appeals for consideration. This is intended to speed up the process for all parties involved, and you may not need to appear at the hearing.
Then your appeal will proceed forward and be decided by the Board of Property Tax Appeals.