If you have good reason to believe your new tax assessment is too high, you still have time to lodge your dispute with the city.

The deadline to file a tax abatement with the Peabody Assessors office is Feb. 1. The assessors office says applications must be filed either via U.S. Postal Service or hand delivered to the office.

The form itself can be found online here or at assessors office at City Hall or you can call the office at 978-538-5716. Petitions are heard by the Board of Assessors.

Property assessments for Fiscal 2013 are based on values as of Jan. 1, 2012, although homeowners may have seen some change in those values due to the mandated 10-year re-valuation conducted last year.

The city also budgets money each year in anticipation of property tax abatements -- that amount was increased by about $40,000 to $1.55 million this year in light of the re-valuation of all city properties.

The assessors office says you do need to pay your tax bill, however, before you file for an abatement. If the board agrees to grant an abatement and you have already paid, you will receive a refund.

If an application is denied by the board, residents do have the right to appeal to the state Appellate Tax Board.