Property taxes can be burdensome especially that these taxes rise steadily overtime. Unfortunately, when you don’t pay these taxes, your bill will rise with penalties or interest. And unless you get your property/ home reassessed, there is no way to negotiate on your tax.
If you think your property’s value has gone down and that your property tax is not fair, you should get your property reassessed. Here are some tips to get started.
Understand the process of reassessment. Every year, local governments send assessment notices and in such notices, you will find the contact information of the unit you should call should you disagree with the assessment. Also, pay attention to instructions on how to make an appeal. The appeal has to be made within a specific time frame, so if you fail to make it for that year, you’ll most likely have to wait for another year to request for a reassessment.
Get property tax card and review it. In many states, the card can be accessed online. Alternatively, you can go to the town hall and request for it from the office of the local assessor. Check the details contained in your card and look for errors that may have affected the amount of tax you need to pay. For instance, there might be discrepancies in your house dimensions or size of the property.
Check property value in your neighborhood. Your house may be overvalued so gather evidences in your neighborhood that will help you prove your claim. Check houses for sale in your neighborhood and the price they have been sold. If the price of the properties in your location has dropped, then most likely your property value has dropped as well.
You can save a lot of money on property taxes. If you think you are paying too much for your property, get it reassessed right away by starting with the tips above.