Owners of real estate property are required to pay property taxes, and each year, property tax assessments are performed to determine the value of a property and the portion of a local tax levy that the property owner will be responsible for. A property tax assessment will affect the amount of taxes that a property owner will be required to pay, and property owners will need to make sure their property is valued correctly to avoid being required to pay excessive property taxes. Currently, owners of apartments may be facing financial issues related to the COVID-19 pandemic, especially since the federal moratorium on evictions may have prevented them from removing tenants who have been unable to pay rent. To address issues related to property taxes, apartment owners will need to work with an attorney who can advise them of their options for challenging a property tax assessment.
Property Tax Assessment Appeals for Apartments
Property owners who disagree with an assessment may work directly with an assessor to address this issue. If the issue cannot be resolved satisfactorily, the owner may pursue an appeal with their local Board of Review. If the owner disagrees with the determination of a property’s value made by the Board of Review, then further appeals can be pursued in the Wisconsin circuit court.
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