Harry J. DiDonato, Esquire

APPEALING YOUR REAL ESTATE ASSESSMENT

The Wall Street Journal March 25, 2008: "A closely watched gauge of U.S. home prices shows record declines continue as the nation's real estate market slumps. Single-family home prices in 10 major metropolitan areas in January were down 11.4% from a year earlier according to the S&P/Case-Shiller home price indexes."

Daily Local News June 2, 2008: "The West Chester Area School District passed the final budget for the 2008-2009 school year on May 27th. The spending plan includes a 6.7 percent hike in real estate property taxes for Chester County residents. Other County School Districts continue to increase real estate taxes."

There's no doubt about it - taxes are going up. Do you know the fair market value of your real estate based on the economic conditions of today's real estate market? It may be time to re-evaluate your property assessment. There actually could be a silver lining to this weak housing market.

Property tax is used as a revenue source by county government, 14 school districts and most of the 73 municipalities in Chester County. Each year a property owner, both residential and commercial, has the opportunity to appeal their tax assessment to the real estate tax appeals board based on present information of the current fair market value. Information used to appeal the assessment includes appraisals and documentation from the purchase of your property, if it is fairly recent. The property owner may also present other information that may have an impact on the value of the property.

We at MacElree Harvey, can provide you with a better understanding of the real estate assessment appeal process. We have experienced attorneys to provide you with information on the appeal procedure, rules and regulations, different types of hearings (both residential and commercial) and the Common Level Ratio and how that ratio applies to your individual situation. Property owners have an opportunity to appeal their assessment every year. Annual appeals may be filed from May 1 through August 1 of each year. Don't hesitate, give us a call.

MacElree Harvey
17 West Miner Street
Post Office Box 660
West Chester, PA 19381–0660
p | 610.436.0100
f | 610.430.7885
f | 610.429.4486
e | info@macelree.com