Property Tax Lawyers in Lowell
The government of Lowell, Massachusetts requires most individuals who own real property to pay taxes on its value. "Real property" refers to land and buildings, as well as anything else which is permanently affixed to a piece of land, including trees, oil, groundwater, minerals, and the like.
Lowell, Massachusetts derives property taxes simply by taking a percentage of the property's value. Normally, they are paid on a yearly or monthly basis.
In general, the federal government does not impose any property tax. Usually, property tax is imposed by state, county, and municipal governments.
How Property Tax is Calculated in Lowell, Massachusetts
Normally, Lowell, Massachusetts property taxes are decided as a percentage of the property's value. Tax rates differentiate widely, but they usually run from less than 1% up to about 5%.
To levy this tax, Lowell, Massachusetts tax authorities must initially figure out how much a house or piece of land is worth.
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 Lowell, Massachusetts 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 Lowell, Massachusetts Property Tax Attorney Can Help.
The system of levying property taxes in Lowell, Massachusetts can get very intricate. Disagreements about property taxes, between the taxpayer and the tax authorities, can come up in many different ways. A taxpayer may believe that an error was made in calculating their property's taxable value, resulting in bigger tax bill. Furthermore, the state or city government might allege that you have failed to pay your property taxes, while you believe that you have.
If you encounter a legal issue with your Lowell, Massachusetts property taxes, and don't handle it properly, unnecessary inconvenience and expense can result. If you have the guidance of a qualified tax attorney in Lowell, Massachusetts, however, the odds of encountering such a problem will be small.