Introduction
Property taxes go hand-in-hand with home ownership. Even after you finishing paying off your mortgage, you will still have to contend with tax property. The cost of property tax is likely to rise over, time to keep up with the value of the home and the rising inflation. However, there are legitimate and legal methods you could use to reduce your property taxes.
Step 1
Check the Information Used by Tax Assessors
Visit the tax assessor’s office and request for your tax property rate card. Every home owner has a tax rate card, which will contain information pertaining to your house. You should scan your card for any discrepancies. If the information does not coincide with what is in your house, you should request for a reassessment.
Step 2
Schedule Your House Improvements
The improvements you make on your home have the potential to increase the value of your house, and thus your tax property. If know that your house is due for an assessment, wait till the assessment has been done, before commencing on any house improvements.
Keep Your Lawn Décor to a Minimum
The more elaborate your lawn is the more you will pay on your property taxes. Even though taxes are supposed to be guided by formulas and specific criteria, it will still be conducted by a human who will be influenced by the appearance of the house. Homes that are simple (plain) in appearance, will generally be given a lower property tax assessment.
Step 3
Point Out the Flaws
Take the assessor round the house and make sure that you point out all the negatives of the house. Tax assessors normally will typically focus on the new floor, fixtures, refinished cabinets and so forth. But you should also point out the cracked walls, roof and foundation amongst other imperfections, to get a fairer assessment on your tax property.
Tips
Check with Your Neighbour
Try to find out what your neighbours are being charged on their tax property. If you live in a house with 3 bedrooms and a bath and your house is valued at $375,000, while your neighbours pay $300,000 for a 4 bedroom house with 2 baths, you have the right to ask why you are paying so much, and have a revaluation done on your house.
Be Open to the Assessment
The next time your property is getting assessed, let the assessor in. Give him/her a tour of the house if they want. When you are hesitant to do so, it gives the impression that you are trying to hide something and will result in your house being assessed at the highest possible rate. You can avoid this by simply letting them in and letting them do their work, courtesy will go a long way.
Sources and Citations
Challenge Your Property Tax Assessment
If you do not agree with the rate charged on your tax property, you could always challenge your assessment. Ask your tax assessor’s office how to go about this process and the documents required.You don’t have to degrade the appearance of your house to get a fair rate on your tax property. With the above factors in mind, you should be able to get a fair assessment.
