Karas Realty Advisors Ltd. specializes in property tax appeals and real estate tax matters. We advocate for taxpayers by bringing concerns to the attention of the proper taxing authorities, aiming to achieve fair and equitable property tax assessments.

Karas Realty Advisors reviews your property’s assessment and property record card to identify errors and opportunities for reducing the assessed value. This process can help lower your property tax bill. For example, in Orleans Parish, over 165,000 parcels are valued annually through a Mass Appraisal Process, which often leads to errors. Our experts correct these errors to ensure accurate property valuations.

Property taxes are essential for funding local government services. While federal and state funds contribute to local budgets, the majority of revenue comes from property taxes. These taxes support vital services such as schools, police, and fire departments.

Your property tax bill shows how funds are distributed. Typically, schools receive the largest portion, followed by services like police, fire departments, and public health initiatives. The allocation varies by jurisdiction.

Property taxes are calculated by multiplying the assessed value of your property, minus any exemptions, by the tax rate (millage). The assessed value is derived from the market value of the land and building, adjusted by an assessment ratio. For residential properties, this ratio is usually 10% of the market value. After applying any exemptions, the taxable value is determined and multiplied by the millage rate to calculate the tax bill.

While theoretically possible, it is unlikely a jurisdictions budget needs will recede. Property taxes increase as local government budgets grow. If a jurisdiction’s revenue needs remain stable, there’s no need for tax increases. However, as budgetary demands rise, so do property taxes to meet these needs.

Exemptions reduce the taxable value of your property, lowering your tax bill. Various exemption types exist, such as homestead exemptions for primary residences, but specific exemptions depend on local regulations.

The market value method assesses property based on comparable sales in the open market. Adjustments are made for size and features. However, this method can be problematic as it often uses “refreshed” properties with recent repairs as comparables, which may not accurately reflect the condition of your property.

Uniformity refers to the consistency of property assessments. In many states, you can use a neighbor’s assessed value as a comparison for your appeal. Unfortunately, Louisiana’s Property Tax Code does not include a uniformity provision, so only market transactions and current listings can be used as evidence.

In Louisiana, property tax bills are usually prepared by December, but the timeline can vary due to events like hurricanes. The opportunity to appeal your assessment typically occurs in mid to late August, but this can differ by jurisdiction. It’s crucial to act promptly to challenge an assessment.

Maybe.  Here is why - while computer models generate tens of thousands of property valuations, errors can occur. Sometimes, these errors may even work in your favor, but it's crucial to review the assessment to ensure accuracy and fairness. 

The most effective way to lower your property taxes is by filing an appeal to challenge the current assessment. In some cases, tax refunds are possible, allowing you to recoup some previously paid taxes. Karas Realty Advisors can help you identify and correct errors in your assessment.

No, protesting your property taxes does not lower your home’s value. In fact, reducing your property tax expense can make your home more attractive to potential buyers. For instance, senior citizens with a tax freeze might still see their property’s assessed value increase over time, impacting future buyers. Had they taken care of the assessments, then the new owners may have viewed their property in a more favorable light. 

No, protesting your property taxes does not harm local services. After the assessment appeal process, the jurisdiction calculates the total taxable value and determines the tax rate to meet budgetary needs. Your appeal won’t significantly impact this process. 

No, a lower property tax expense does not reduce your home’s value. On the contrary, it can increase your property's attractiveness to buyers. 

Differences in property values often stem from variations in the property record card. In newer subdivisions, values are typically more consistent, but in older neighborhoods, discrepancies are common due to changes like added square footage, conversions, or damage.

Although we can proceed with a successful appeal with just the taxpayer's authorization, providing data from reports and pictures can be very helpful. Detailed information helps establish credibility and supports your case. Third-party reports and additional evidence can strengthen your appeal.

In Louisiana, the “Open Roll” period typically begins in July or early August and lasts 30 days. Each jurisdiction may have different timelines. Appeals filed in the days leading up to the deadline may be kicked to the Board of Review. This is a function of human nature and waiting til the last minute and the manpower and capacity of the Assessor's staff. 

Property tax isn't merely a job; it's a consuming passion. Unlike the transactional nature of other real estate realms, when someone inquires about property tax, I’m ready to dive deep. It's a subject woven into the very fabric of our communities, especially urban ones.

Picture this: A robust, well-funded police force attracts families, creating safer neighborhoods where children thrive. These children grow into tomorrow's workforce, luring businesses to the area. Property tax is the cornerstone of this transformation. Conversely, I've witnessed firsthand the devastating impact of assessment errors, where a single mistake can trigger a financial catastrophe. For most, property tax is a line item. For me, it's a lens through which I examine the world, a complex system with the power to build or break communities.

Yes, you can. As long as the connection between the entity and the authorized person signing the documents is established, there are no issues with proceeding.

This service is currently being developed but is not yet available. Stay tuned for updates.

The total fee is based on the first year’s tax savings. Residential property owners (1 to 4 units) are charged 33%, while commercial, industrial, and multi-family properties (5+ units) are charged 25% of the first year’s tax savings. There is a small administrative fee charged at the outset that is subtracted from the final fee.

There are no guaranteed results as each case is handled individually. The contingency fee structure ensures that both parties have the same goal: the more we save you, the higher the invoice. This is why we don’t charge a flat fee—we aim to achieve the best results for our clients.

We strive to help you pay the lowest possible property tax bill.

After signing up, our free consultation will have determined the necessary steps. This could range from forwarding a few files via email to arranging a site visit and coordinating with tenants for access.

The initial appeal application must be filed by midnight of the open roll conclusion if using an online portal, by the end of business on the final day if dropping off a physical application at the assessor’s office, or postmarked via USPS, FedEx, or UPS by the last day of the open roll period.

Sometimes, informal results can be obtained at the hearing and will be shared with the taxpayer. However, no invoices are generated until the results are posted on the assessor's website.

Invoices are generated when official results are released. This is typically when the assessor or board of review posts the results online.

Our contract specifies the tax year. It is at your discretion to appeal, and at our discretion to take on the case.

We represent you at the hearing, but our experience shows that attending the hearing with us is usually not helpful. By the hearing stage, all evidence has been gathered and filed, and the hearing is brief, addressing any confusion or stipulations. The administrative fee is similar to a plumber’s service call fee.

If you have a mortgage escrow for taxes and insurance, it might be based on prior tax bills. For example, if previous tax bills were $3,000 per year and the new assessment doubles it to $6,000, but your appeal reduces it to $4,500, your mortgage servicer will need to adjust your escrow account to cover the new amount, which can still result in a higher payment.

We do not offer guarantees, but our contingency fee aligns our goals to achieve the lowest assessment possible. Refunds are offered in very few cases.