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Any Taxpayer has the opportunity to file an Abatement Application with the municipality starting from the receipt of the final tax bill (usually in November) until March 1st of the following year. The town will respond by July 1st. To make your case, it's important to provide more than a simple statement that your property's value is too high. Collect information on similar properties in your neighborhood, consult with a real estate broker, or use the sales record book in our Assessing Office.
You can find Abatement application forms in the Assessing Office, or visit the Board of Tax and Land Appeals website, where you can locate the Municipal Abatement Form in the Property Tax Forms section. Please note that the Town of Bow doesn't require Inventory Blanks, so mark N/A for that question on page 1 of the application form.
It's crucial to remember that applying for a property tax abatement doesn't mean you should delay paying your taxes. Pay your taxes as assessed by the deadline on your tax bill to avoid interest charges. If an abatement is granted, a refund with interest will be issued. For more details, you can visit the Board of Tax and Land Appeals website. We appreciate your cooperation!
The amount of tax you pay is determined by a tax rate applied to your property's assessed value. This tax rate is decided collectively by various taxing agencies, including the municipality, county, state education, and the local school district. It is influenced by decisions made at Town Meetings, School District Meetings, and the overall needs for providing essential citizen services.
It's important to note that the assessor does not set the tax rate. Their main role is to determine the fair market value of your property, ensuring that you contribute only your fair share of taxes. The goal is to establish an equitable system where each taxpayer pays a proportionate amount based on their property's value.
If you find that your opinion of your property's value differs from the assessor's, we are here to help address your concerns. Feel free to ask us questions about how the assessed value was determined, and we can explain the process of appealing if you still disagree. Achieving fairness in assessments is challenging without complete and precise data.
To enhance accuracy, we appreciate your cooperation in allowing in-house reviews and providing us with accurate information. Your collaboration is essential in ensuring that the assessment reflects the true value of your property.