Property values have been dropping. Maybe you’ve noticed…
Has yours? If so, your property taxes should also drop. Well, maybe. How would you know?
For one thing, was your property already undervalued by the tax department? Maybe now your taxes are finally where they should be. Or you’ve done additions to your home that the tax department didn’t know about so you’re taxes weren’t raised to where they should have been. Well, if that’s the case, your taxes probably don’t need to come down.
But, maybe they should.
Counties typically update the assessed values of properties on a regular basis – every 3, 5 even 7 years depending upon your county. In 2009, they’re assessing deflating property values. The National Taxpayers Union estimates that nearly 60 percent of homes in the United States are over-assessed right now.
Good news: Of the owners appealing assessment and tax amounts nationally, about 40% are successful in getting the amounts amended. If you’re paying tax based on an inflated value of your home that is no longer true, you need to check about getting your taxes lowered. How do you do that? Easy.
Most county assessor offices provide appeal-related information for free, as well as free instructions and forms. Just call or visit your county assessor’s office or their web site.
Companies have sprung up nationwide offering to assist you with getting your taxes re-evaluated. Don’t pay someone else to do this for you. It’s so simple.
Go to Google (don’t we all love Google?). Type in your county’s name and the words “tax assessor” or “tax department”, hit enter. Contact them online or get their phone number and call them. It may take some time to get your new assessment as many of the offices nationwide are struggling to keep up with the deflating property values.
Check it out and start saving. Let me know your results!