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Hoping someone can give me some insight or information. We're in the process of closing on a house in Charles Town (Jefferson County). The prior owner of the house used it as an investment (rented it out). Because of this, I noticed the property taxes we're double on the house. They were double what previous years on the tax history of the house and double almost every other house in the neighborhood.
From what I understand from researching, Jefferson County has 4 tax classes. From finding the tax record, the house is listed as a Class 4 (Investment/ Business inside municipality limits). Since I'm buying the house I assume it should be a Class 2 (owner occupied residence).
How do I go about Jefferson County assigned the house to the correct tax class? Am I going to be stuck paying double property tax for a year before they re-asses? Help!
Hoping someone can give me some insight or information. We're in the process of closing on a house in Charles Town (Jefferson County). The prior owner of the house used it as an investment (rented it out). Because of this, I noticed the property taxes we're double on the house. They were double what previous years on the tax history of the house and double almost every other house in the neighborhood.
From what I understand from researching, Jefferson County has 4 tax classes. From finding the tax record, the house is listed as a Class 4 (Investment/ Business inside municipality limits). Since I'm buying the house I assume it should be a Class 2 (owner occupied residence).
How do I go about Jefferson County assigned the house to the correct tax class? Am I going to be stuck paying double property tax for a year before they re-asses? Help!
I know you can file an appeal, but it looks like that can only occur during February. Call the county assessor's office and they can help more
When you buy property, a form is filed at the County Assessor's Office. It identifies the property you bought by parcel number and asks for confirmation of the price paid, some specific questions about the property, your financing, and if you plan to live on the property. If you live on the property, your taxes will be Class 2 (owner occupied residence) in the new tax year. You do need to be sure that the Assessor has the correct information. Be sure to check the parcel number.
If you bought with an attorney handling the paperwork, there should have been pro-rated taxes for the current year. July 1 starts the new tax year and if you are living on the property there should be no problem proving that it is Class 2.
If you paid more than the previous owner’s accessed value, your Class 2 taxes will be based on the new higher price. Your purchase price will also be used to increase the value of your neighbors properties and raise their taxes.
If you paid significantly less, you will have a hard fight to lower taxes. The only real way is to have purchased at a widely advertised public auction. I did and still had to go rounds with an “expert from Charleston” who cited the Internet price the previous owners had not gotten in five years of self advertising before they gave up and had an auction. But my actual purchase price did hold up as the true value, partly because there had been over 200 bid cards signed for.
Assessors really get upset at lower prices on private transactions, e.g. neighbors, friends
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Property Tax Classification
