NEWS RELEASE FOR IMMEDIATE RELEASE March 19, 2002 Property Owners Must File Assessment Appeals By April 1 (Washington, DC) The Office of Tax and Revenue (OTR) is encouraging property owners to file an appeal before the April 1, 2002 deadline if they believe that their recent assessments do not reflect the market values in their neighborhoods. OTR assessed 114,000 residential and commercial properties for fiscal year 2003 using innovative assessment methodologies and systems to determine the fair market value. This includes researching the physical characteristics of the property, reviewing recent sales of other like properties, factoring in major renovations, physically inspecting the exterior of many properties, and using industry-accepted computer models. "If property owners disagree with their assessments, we would like to know about it," said Herbert J. Huff, Deputy Chief Financial Officer. "Most property owners do not want to see an increase in their property assessments; however, most have agreed that the assessed values are fair and reflect the market value of the properties in their neighborhoods. Assessing properties in the District is a complex process. We have a vigorous and ongoing quality review to identify and correct property outliers and data. We recently mailed several hundred revised assessment notices and will continue this review." The appeal process provides an opportunity for the property owner to dispute the real property assessment determined by OTR's Real Property Assessment Administration. The process begins with the submission of an appeal by the property owner or an authorized representative. Every property owner must start at the first level of appeal before going to the next level. Appeal Process/Your Appeal Rights Real Property Assessment Appeal Application Property owners are encouraged to file an appeal even if they have not completed their research. Once filed, a property owner has the option to withdraw if they ultimately decide the value is correct. Appeal applications or appeal letters should be sent to the Government of the District of Columbia, Real Property Assessment Administration, Attention: Appeals Section, PO Box 176, Washington, DC 20044. You may also request to have a copy of the application faxed by calling (202) 727-4TAX. Property assessment data, sales data, property characteristic data, an appeal application, and appeal process information are available on the Mayor's Web site at www.dc.gov under "Taxpayer Services." You may download this information at any of the DC public libraries. This allows property owners to ensure the uniformity of their assessments, compare their assessments with property sales data, and check their property attribute data for accuracy. Real Property Tax Database Search Customer service representatives are available to assist property owners in the Customer Service Walk-in Center, located at 941 North Capitol Street NE, from 8:15 am to 4:30 pm, Monday through Friday. Property owners may also cal1 a special telephone number, (202) 727-9138, for answers regarding their real property assessments and the appeal process.