How To Lower Your Property Taxes
Posted on: 9 April 2019
Every homeowner must pay property taxes. Unfortunately, they seem to be getting higher. In fact, taxes went up 3% from 2016 to 2017. In some situations, the taxes can be higher than necessary. If you suspect that your taxes are too high, there are things you can do.
What can cause your property tax to increase?
There are a number of reasons why your property taxes might increase. Here are some of the most popular reasons:
- adding to your home
- increase in value in houses in your area
- new legislation in your area
- renovations
Basically, when your home increases in value, your taxes will increase as well.
What to do to lower your property taxes
Luckily, you have options if you think your property taxes are too high. Here are some steps to take.
Hire a property tax consultant
It's best to get a professional involved, especially if you have a large discrepancy with what the property taxes are and what they should be. A professional can use their experience to tell you what they believe to be a realistic outcome and if you should even move forward with your appeal. Remember to talk to a consultant as soon as possible. There are limits to how long you have to file a property tax appeal.
Look through the city's assessment carefully
It's amazing how much the city will claim your home is worth. It almost never matches what a realtor selling the house would tell you. Request a thorough assessment to find where they might have miscalculated the value of your home. At the very least, having a detailed description gives you ammunition in your property tax appeal.
Be persistent
You may miss your window to file an appeal or not get the ruling that you want. It's important not to give up. Be persistent and continue to fight to get your property taxes lowered. Constantly reach out to the correct people to get more information or schedule a hearing.
Downsize
If the property taxes are really creating a problem for you and your family, it might just be time to move to a smaller home. This is an especially good option for people who no longer have children in the house.
Your property taxes may sincerely be too high. Don't be afraid to look into it more to get the correct bill. Doing this can save you money on your property taxes in the future.
For more information, reach out to a property tax service.
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