Reduce Your Property Taxes
Every homeowner looks for ways to save money. Turning off lights, watering the grass early in the morning, installing proper insulation. But what about taxes, as in property taxes? A few tips and a little tenacity could considerably reduce your property taxes. Since property taxes are, in large part, based on the home’s assessment, correcting an over-assessed home is the place to start. But how?
First, check with your assessor’s office to be sure that your property has been properly assessed. People are people, and people sometimes make mistakes. A mismeasured room or a phantom pool could considerably increase your annual property taxes.
Second, if you find a mistake, appeal the assessment. You can bring your case before the appropriate local officials. Come prepared with “comps” (comparable home sales in your area) that show home values lower than what yours has been assessed. You can also hire a property tax lawyer to present your case.
Third, be patient. The appeal process can be complicated and can take time and energy that you might not have readily available. In that case, you can look into hiring a property tax consultant to do the leg work for you. If you decide on this route be sure to hire a reputable property tax consultant.
Of course, a lower assessment for your home has many repercussions, so check with your real estate agent to make sure this is the right choice for you.
You can follow any responses to this entry through the RSS 2.0 feed.
