Property is taxed on an assessed value derived from market value. Where the assessment overstates value, the owner’s remedy is an appeal, subject to deadlines that are typically jurisdictional.

The calendar governs. Assessment notices issue on a set date, local review boards sit for a short window, and appeals to a state tribunal must follow within a defined period. Missing a step usually forfeits the year entirely.

Grounds. Overvaluation compared with market value; inequality compared with similar properties; classification errors; and exemption entitlement.

Evidence. An appraisal prepared for tax appeal purposes, sales of comparable properties, income and expense data for income-producing property, and cost information for special-purpose property. Owner opinion alone rarely carries the burden.

The income approach dominates commercial appeals. Capitalization rate, market rent rather than contract rent, and stabilized vacancy are the contested inputs.

Uncapping. In states that limit annual increases in taxable value, a transfer of ownership resets it to market. Whether a particular conveyance — into a trust, among family members, or an entity restructuring — triggers uncapping is a technical question with large consequences, and the statutory exemptions should be checked before the transfer rather than after.

Refunds and interest follow a successful appeal, and settlements frequently fix values for several years.