Although the notices are sent in August, the valuations are based upon conditions as of Jan. 1, 2002. Last year saw an uneven economy. There were increased earnings in certain areas and an economic downturn in other areas, such as the hotel industry, caused by the Sept. 11 terrorist attacks. Therefore, property assessments should be carefully monitored this year.
Property owners may challenge the assessed value of their property by filing a petition with their county's value adjustment board. The deadline to file such a petition is 25 days from the date the assessment notice is mailed from the property appraiser's office.
Jeffrey L. Mandler
Berman Wolfe Rennert Vogel & Mandler
[email protected]
American Property Tax Counsel (APTC)
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