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During the third week of August all Property Owners will receive a Notice of Proposed Taxes from the Property Appraiser’s Office. The Notice of Proposed Taxes, also called the TRIM (Truth in Mileage) notice, states current (2007) accessed and market values of property and the proposed tax (2008) taxes.
Most people ignore the TRIM notice, not realizing its significance. The TRIM notice is important because it identifies the deadline and instructions for filing a challenge to your proposed property taxes. If you feel the assessment is incorrect or missing an exemption and you have not been able to resolve the issue with the Property Appraiser’s Office, you may file a petition to challenge the proposed assessment with the Value Adjustment Board (VAB). This period is the only opportunity a taxpayer has to challenge the proposed rate.
The Value Adjustment Board (VAB) is an independent board composed of three county commissioners and two school board members. The deadline to file a petition is 5:00 p.m. of the date identified on the TRIM notice. For more information about the VAB, go to the Value Adjustment Board website.
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