The value of real estate properties have been increasing again and as a result, the assessments on properties are also increasing. As a result, property taxes are also on the rise. High property taxes is not one of the best benefits of owning a home, so homeowners are constantly finding ways to make it appear that their house does not deserve a high assessment value.
There are various ways that you can do to ensure that you would pay a lower property tax, no matter where you are.
1. Present an Unpresentable House
This might sound like a weird advice, but if you are planning on improving your home, it should be done after the assessment for the improvement of your house might have the assessor believe that these improvements have added value to your house.
Moreover, your property is being assessed based on your neighborhood and if you are living in a house that is considerably better than the other homes located in your area, your property would have a higher assessed value.
Remember that you are trying to reduce the assessed value and not the actual property tax, since your tax rate will be computed based on the assessed value. If you haven’t found a home yet, it might be better to begin your quest with properties that are sold below market value since they would equate to lower property taxes. One site that specializes in finding properties nationwide that are below market value is assetcolumn.com.
2. Request for the Property Tax Card and Review it
The property tax card is held by your local assessor’s office and it contains the essential information that has been gathered on your property. It holds data on the size of the property, the number of rooms and its corresponding dimension, and any material fixtures and improvements done on the home.
However, homeowner’s do not take advantage of this informational device that probably holds discrepancies that can allow them to apply for re-assessment. No matter how small the mistake is, it is still the duty of the local assessor to correct them and to charge you for the right amount of property tax.
3. Investigate Comparable Assessments
If you want to appeal your property tax, it is better if you back up you case with concrete evidence. Your case will be easier to attend to since you have proof of your argument. All you would need to do is submit photos of comparable homes around your area that were sold recently and the details about the sales. If you are trying to sell your house, you can also submit a copy of the offers you have received on your home as proof of your appeal. If your appeal is based on your gut feel, it is highly likely that it will be ignored. However, if you present an appeal with complete documentations and written support, the re-evaluation would most likely be granted.
One way to find out about the possible offer that I can receive on my property is by using needtosellmyhousefast.com. I have tried using it myself and they called me almost immediately with a direct offer.
4. Know the Assessment Process
The assessment process begins with the sending out of assessment notice. Since the homeowner would be notified of the arrival of the assessor, it is the homeowner’s duty to be present during assessment so they can point out the problem areas of the home. If the assessor goes about the assessment on their own, it is more than likely that they will focus on the things that can increase the assessment of the house.
The notice would also carry details on who to discuss their issues with if they complaints, the process on how to make an appeal, and the allowed time to make an appeal. These details can vary per state so you have to be more careful when it comes to reading the assessment notice. According to Vera Gibbons, “You will also be given a specific time frame in which to make your case. Take note because while in some areas you may have a full six weeks to appeal (from the time you receive the assessment in the mail), in other areas, you’ll have as little as two weeks.
Moreover, once an appeal has been granted, it is important that you know the process and present your evidence in a professional manner. It is essential that you show the assessor that you know what you are talking about and you have done thorough research on the matter.
Finally, when arguing for a lower tax rate, it is vital that you have all the details regarding your argument since the only way to get better results is by having evidence that rest on cold hard facts. The government needs money and they get money from taxes, but it does not always mean that they do not allow the taxpayer to correct their tax rate. Several homeowners have overpriced taxes because they assume their property taxes are final, but if you know the process, you will realize that are capable of changing the amount you pay if you have done sufficient research on the topic.
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