Property taxes

centsgirl · #1 05-31-2011, 01:12 AM

Here are good tips on lower your property taxes:

1.Know the property tax process, every city is different so get to know how it is where you live.

2.Pick up a property card,This contains all the information the assessor used in determining your home's assessed value such as your home's square footage, the number of bedrooms and bathrooms, and features such as a garage or finished basement.

3.Know the neighborhood, this means you need to know what comparable homes have recently sold for, and compare your home in terms of size, location, amenities and more.

4.Make your case--If you have evidence that your home is over assessed, and the National Taxpayers Union estimates that as many as 60 percent of properties are, ask that it be re-assessed. Are there mistakes on your property card? For example, are there math errors? Is your home classified as "commercial"; even though it's "residential"? Mistakes as these are common (the inaccuracy rates on these cards are between 30 and 50 percent, according to the NTU). They can be corrected on the spot and you can avoid a formal hearing altogether.

5.File your appeal, if it is then just a simple math mistake, or if you believe you have a legitimate case it is time for a appeal.

moneysense · #2 05-31-2011, 02:42 PM

Thank you for the tips on lowering our property taxes. I sure wasnt aware that there were so many math mistakes on our property tax cards. I will get mine out today to make sure that there are none on ours.

I would like to add a way to lower property taxes to your list.

If you are 65 or older or disabled, you can apply for the Homestead Reduction plan. This alone lowered our property taxes by about $300 a year. And believe me, thats a big savings.

pennypinch · #3 06-01-2011, 03:30 AM

Thanks for the tips. I hate property taxes! It pisses me off that we spend so much money to own a piece of land and a house and have to pay for it the rest of our lives! Once it's paid for that should be it! I don't think it's right that the government takes our money for that too. We can't win for losing!