Property Tax Lawyers in New London
In New London, Connecticut, the government imposes a tax (a legally-mandated payment made to the government) on real property. "Real property" is specified as any piece of land, or object permanently or semi-permanently fixed to the land (such as buildings, trees, minerals, etc.).
In New London, Connecticut, property taxes are measured as a percentage of the land's value. They are most commonly paid annually. But in any case, they are paid at some set interval.
Federal authorities do not gather a property tax. Only state and local governments gather property taxes, as a general matter.
How Property Tax is Calculated in New London, Connecticut
Most often, property taxes in New London, Connecticut are simply a set percentage of the property's value. Across the country, state authorities impose a wide range of various tax rates. The highest rates in the country are in the area of 5% of the property's value, and the lowest are less than 1%.
To collect the property tax, the authorities of New London, Connecticut have to first decide the value of an individual piece of land.
As you probably know, value is not always objective. For example, the owners of family heirlooms normally place far more value on them than their objective monetary value. So tax officials have to be careful to only use objective criteria in valuing property for tax purposes.
To that end, the New London, Connecticut employees in charge of appraising land look at objective facts to determine value, like the size of the land and any buildings on it, the way in which the land may legally be utilized (zoning), and the health of the local real estate market.
How A New London, Connecticut Property Tax Attorney Can Help.
New London, Connecticut's property tax system is somewhat difficult. Legal disputes arising from property taxes can arise in a number of ways. For instance, the state might accuse a homeowner of failing to pay their property taxes, when they really have. Conversely, a homeowner might believe that the value of their property was appraised inaccurately, resulting in a higher tax bill.
If you are immersed in a property tax dispute with the tax authorities of New London, Connecticut, you should seek the help of a New London, Connecticut tax attorney. Your attorney can help you prevent a small tax problem from turning into something much bigger and more expensive than it needs to be.