We want to reduce any expenses we can. One of the expenses we want to significantly reduce is our property taxes. Just imagine the relief we will have if a huge percentage of real estate taxes are slashed off. Fortunately, this is possible. But how are we going to reduce our property taxes? Are their tricks to help us? Below are some tips of how you can:
Study your property tax card:
You can ask for a copy of your property tax card from your local government agency. The said card details history and additional information about your home. It is indicated there the size, the age and the changes made to your home. The number of rooms, bathrooms and improvements in the house will also be included. Check the card and make sure that the information is accurate. If there are any discrepancies, call the attention of your home assessor. They will re-evaluate your home and adjust your home value, thus adjusting your real estate tax as well.
Note that new structures built at home will increase the property tax:
Many homeowners love to make home improvement projects because they want to improve the value of their houses. However, such projects will also increase the property taxes. This is why is advisable to limit the improvements done at home especially when they are unnecessary and when owners are not selling their properties. Focus on the repairs instead.
If you are not selling, limit the curb appeal of your property:
We all love to have beautiful homes. This is why we always want to improve its curb appeal. However, you have to be careful as most home assessors are subjective when it comes to beautiful homes. Most would immediately associate it with high value properties. Again, if you are not selling your property, avoid extravagant changes outdoors. You can still have a beautiful landscape though. Just see to it that you minimize it.
Compare your property value with the property value of your neighbors:
You can have access to the information of the property of your neighbors. Check its value and how it is valued. Compare the values of your properties. It is possible that the value of your home is higher compared to the bigger house next to yours. If there are significant discrepancies, point this out to the assessor and have it corrected.
Guide your assessor during the evaluation of your home.
Most would just let the assessor in their home and let them do the evaluation alone. One of the disadvantages of this is that assessors only tend to see the improvements made at home. They may see your new counter but will not acknowledge the damaged cabinets in the kitchen. This makes it essential to walk with them during the assessment.
Article Source: http://EzineArticles.com/6216389
Study your property tax card:
You can ask for a copy of your property tax card from your local government agency. The said card details history and additional information about your home. It is indicated there the size, the age and the changes made to your home. The number of rooms, bathrooms and improvements in the house will also be included. Check the card and make sure that the information is accurate. If there are any discrepancies, call the attention of your home assessor. They will re-evaluate your home and adjust your home value, thus adjusting your real estate tax as well.
Note that new structures built at home will increase the property tax:
Many homeowners love to make home improvement projects because they want to improve the value of their houses. However, such projects will also increase the property taxes. This is why is advisable to limit the improvements done at home especially when they are unnecessary and when owners are not selling their properties. Focus on the repairs instead.
If you are not selling, limit the curb appeal of your property:
We all love to have beautiful homes. This is why we always want to improve its curb appeal. However, you have to be careful as most home assessors are subjective when it comes to beautiful homes. Most would immediately associate it with high value properties. Again, if you are not selling your property, avoid extravagant changes outdoors. You can still have a beautiful landscape though. Just see to it that you minimize it.
Compare your property value with the property value of your neighbors:
You can have access to the information of the property of your neighbors. Check its value and how it is valued. Compare the values of your properties. It is possible that the value of your home is higher compared to the bigger house next to yours. If there are significant discrepancies, point this out to the assessor and have it corrected.
Guide your assessor during the evaluation of your home.
Most would just let the assessor in their home and let them do the evaluation alone. One of the disadvantages of this is that assessors only tend to see the improvements made at home. They may see your new counter but will not acknowledge the damaged cabinets in the kitchen. This makes it essential to walk with them during the assessment.
Article Source: http://EzineArticles.com/6216389
