Tuesday, January 16, 2007

Cut Your Property Tax?!

I didn't know it was actually possible. But The National Taxpayers Union reports...

"As many as 60% of homes are assessed for too much. About 33% of property-tax appeals succeed."

The procedures on how to get this done vary, but you normally have 30 to 60 days to file an appeal.

"Ask the assessor's office for a copy of your property card, which documents the information on which the assessment was based. If the card lists the wrong number of rooms or square footage, for example, you may be able to get your assessment changed without a formal appeal."

If the information seems to be accurate, visit sites like Zillow.com and domainia.com to check how your homes assessment compares to the other homes in your area. If you find similar homes assessed at a lower value, that may help you build a stronger case. Pete Sepp from the national taxpayers union recommends...

"If you spot big discrepancies, check your local assessor's office's records for more details on homes with similar features and lower assessments. Or find comparable assessments and explain why your home's value should be lower"

That organization publishes a helpful brochure on How to Fight Property Taxes.

"Some jurisdictions also allow you to submit as evidence market-value information, such as your recent appraisal." Has anyone out there tried this, and has it worked for you?


Anonymous said...

I work for a large state taxing body. I can assure you that the succcess rate for appeals from the public is very high.

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