The city of New Orleans recently contacted New Orleans Homeowners with their 2020 Tax Assessments. As a result of increasing sales prices and to raise funds for New Orleans, City Hall has spiked assessed property values on many homeowners, with tax hikes of up to 300% on some property values. This increase can be catastrophic for some homeowners because in the worst case, the home is no longer affordable due to the new tax bill.
New Orleans Homeowners should know they have options on disputing this increased bill, but the clock is ticking, and homeowners should act quickly.
Here are some options that one should know before merely cutting a check:
- Consult your Realtor on comparable sold properties in your neighborhood. If there are recent sales in your area that may contradict your assessed value, you may have a case to dispute the new bill. If you do not have a Realtor, here is a link to a good agent.
- The Assessors Office does not have pictures or access to the inside of your property. Your house may be valued as a new renovation whereas it may in fact be completely gutted. If your property is in disrepair, the Assessor’s office may not know, causing a higher assessed value. You should have a general contractor or specialist for whatever the issue is draw up an invoice/estimate for the cost of repairs, or simply bring in pictures to the Assessor’s office.
- If you’re over the age of 65, you may qualify for a freeze on your property taxes.
Homeowners have until August 22nd to contest their 2020 valuations. If you did not receive a letter from the Assessors Office, you can check your assessed value at this link. If you’ve seen a tax hike that you feel may be disputable, give your Realtor a call before it’s too late.