Property taxes are often considered a necessary evil. Most of us do not enjoy paying them, however, we are aware that without these taxes our local government, safety services and schools could not function properly or even at all.
Property taxes are based on the value of your home multiplied by the current tax rate. When you make improvements or additions to your home, your local government can reassess the value of your home and raise your property tax liability accordingly. Likewise, with many property values dropping across the country, property owners have the right to request a property value review called a reassessment. This reassessment can be done by a private firm or by your local government. Often, requesting this service from your local government will cost less or even have no cost.
Nearly all property owners are unaware that they can appeal a property tax assessment to try to lower property taxes.
Lost a Copy? Where to Find Them: Fortunately there are online services that allow you to conduct a current, accurate and quick search and download of information regarding these records. Advancements have alleviated the headache of digging through old dusty files and now you can comfortably come to the rescue from your own home office. Make sure you use an online search database when looking for Property Tax Records that provides clear and concise information.
Storage Tips: It is of great importance that you devise a good storage system by which you can store your tax records safely and in a way that does not take much of your energy and time. For instance, consider buying a good spring or box file. Pin all the documents and receipts that are relevant to a particular tax record and file them together with it.
You should also take a look at your neighbors' property values. These can often be found online at your county auditor's website. You can also get a quick idea of these values by visiting sites such as Zillow or Trulia and searching homes in your area. If their values are much lower than yours, that is a good place to begin with appealing your own property tax liability.
Remember there is commonly a time frame in which to file a property tax appeal. Most jurisdictions have a set time every year to process appeals. So if you're contemplating an appeal to reduce your market value and possibly lower property taxes, then my advice is to find out when are you able to set an appointment. Then begin to research and prepare your case.
If you do not question your assessment and assume it is correct, you may be making a costly mistake. You could possibly be losing hundreds of dollars of your hard-earned money every year.
Property taxes are based on the value of your home multiplied by the current tax rate. When you make improvements or additions to your home, your local government can reassess the value of your home and raise your property tax liability accordingly. Likewise, with many property values dropping across the country, property owners have the right to request a property value review called a reassessment. This reassessment can be done by a private firm or by your local government. Often, requesting this service from your local government will cost less or even have no cost.
Nearly all property owners are unaware that they can appeal a property tax assessment to try to lower property taxes.
Lost a Copy? Where to Find Them: Fortunately there are online services that allow you to conduct a current, accurate and quick search and download of information regarding these records. Advancements have alleviated the headache of digging through old dusty files and now you can comfortably come to the rescue from your own home office. Make sure you use an online search database when looking for Property Tax Records that provides clear and concise information.
Storage Tips: It is of great importance that you devise a good storage system by which you can store your tax records safely and in a way that does not take much of your energy and time. For instance, consider buying a good spring or box file. Pin all the documents and receipts that are relevant to a particular tax record and file them together with it.
You should also take a look at your neighbors' property values. These can often be found online at your county auditor's website. You can also get a quick idea of these values by visiting sites such as Zillow or Trulia and searching homes in your area. If their values are much lower than yours, that is a good place to begin with appealing your own property tax liability.
Remember there is commonly a time frame in which to file a property tax appeal. Most jurisdictions have a set time every year to process appeals. So if you're contemplating an appeal to reduce your market value and possibly lower property taxes, then my advice is to find out when are you able to set an appointment. Then begin to research and prepare your case.
If you do not question your assessment and assume it is correct, you may be making a costly mistake. You could possibly be losing hundreds of dollars of your hard-earned money every year.
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