Experience with applealing Property Tax and receiving refund?

10 Replies

Does anyone have experience appealing the property value of their investment property and receiving a refund IN Memphis?  If so, please share your experience.  Did you use a company?  Did you go through the process yourself?  Did you pay your property tax and then get a refund?  How did you submit for a refund?  How long did it take for the refund to come?  And most importantly, what percentage of money did you get back?

Hi, @Mel Hayes .

I have appealed hundreds of properties for both myself and our clients over the years.  

There are two main items you have to do.  First, you must submit your appeal with the Shelby Co. Assessor's office before the deadline each year (around June 30).  Secondly, you must pay your taxes when they are due (City by August and then County by February).

If you are successful in getting a reduction of your Assessed Value, which lowers the taxes you owe, the City will send you a refund on your over payment.  Usually, all this happens before the County taxes are due, in which case the County will send you a revised tax bill with the reduced amount.

I know this can be a bit overwhelming/confusing your first time, but it's really a pretty simple process once you learn the ropes.

The hard part is convincing the Assessor that your value should be lowered!

Originally posted by @Douglas Skipworth :

Hi, @Mel Hayes.

I have appealed hundreds of properties for both myself and our clients over the years.  

There are two main items you have to do.  First, you must submit your appeal with the Shelby Co. Assessor's office before the deadline each year (around June 30).  Secondly, you must pay your taxes when they are due (City by August and then County by February).

If you are successful in getting a reduction of your Assessed Value, which lowers the taxes you owe, the City will send you a refund on your over payment.  Usually, all this happens before the County taxes are due, in which case the County will send you a revised tax bill with the reduced amount.

I know this can be a bit overwhelming/confusing your first time, but it's really a pretty simple process once you learn the ropes.

The hard part is convincing the Assessor that your value should be lowered!

Thank you Doug,  

So After I get the bill, I don't pay the bill right away?  I appeal first, then get a new bill?  

@Mel Hayes ,

Always pay your tax bills when they're due.  Worst case, it'll be an over payment towards next year if you get a reduction.  Mostly likely, if you've paid the bill and then get a reduction, they'll send you a refund.

If you don't pay your tax bill when it's due the government charges 1 and 1/2% per month plus penalties and fees.  It's very expensive and adds up quickly.

I would think that your local property manager should be able to assist you. Appealing the Assessed Value is a very common practice here.

Originally posted by @Patrick Soukup :

Douglas Skipworth - Bought a property for $100,000 under its appraised value. It is middle an off year for assessments, how would you proceed to try and lower the tax basis by that $100,000?

I think each state is different. Did you buy in Memphis? In Memphis purchase price has very little to do with it. Its more about the condition of the property and the FMV of the property.

Originally posted by @Patrick Soukup :

Douglas Skipworth - Bought a property for $100,000 under its appraised value. It is middle an off year for assessments, how would you proceed to try and lower the tax basis by that $100,000?

If you bought a property in Shelby Co. in 2018 for less than its Assessed Value then you can appeal the 2019 value by 6/30-ish/19.  If you send me the address in a private message then I can walk you through the detailed steps to appeal.