Why not enjoy savings of $200 to $2000 or maybe even more this year? It is a great time to get your property taxes lowered. In some cases, all it requires is a simple phone call!
As we all know, home values have dropped, a lot, and they still have not come back. This means that your home may be taxed higher than it should be. A significant drop in home value means that your home may be worth less than it was when you originally purchased it. Why be taxed on negative equity?
The first step is to understand what your house assessment is. This is not necessarily the amount for which your house was purchased. It could be higher or lower. If you think the assessment is too high, contact your local county assessor’s office and ask if they are doing reassessments. Provide your address, and you may find yourself with a lower tax bill! Usually, a phone call is all that it takes, but you should still be prepared to provide proper information, such as a list of home sale data for your neighborhood.
You should also check your property description. Are you being taxed on outbuildings, such as sheds, that are no longer there? Does your listing include an extra bathroom or other room that doesn’t exist? Errors in your property description could be causing you money.
Pay attention to any notices that come to your home. Sometimes you might be presented with an opportunity for saving on your property tax if there is a rezoning or if you qualify for special circumstances. We recently saved money on our taxes from just such a notice.
Finally, if all else fails, there is one sure way to lower your property taxes, although it isn’t as easy–downsize! A smaller home or a home in a different neighborhood may save you a lot in your property taxes.
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