Many people could be paying much higher property taxes than they should. When your home assessment comes in the mail really look at it. While having your property values go up is a good thing from an investment standpoint, that valuation also means higher taxes. With the housing market soft, you have a better chance to get your assessment adjusted so that it fits with the financial atmosphere more accurately.
You home assessment came with information on how to appeal the decision. This isnt a difficult process but many people have no idea how to proceed successfully. The key here is doing a little research. See what houses in your neighborhood have sold lately and the purchasing price. Try to find houses as close to yours in size and style. If the sales price on those homes is lower than your appraisal you have a good foundation on which to appeal.
Print out copies of that information for the Tax Assessor and send them along with your written appeal. Avoid getting personal. It doesnt matter if youre out of work that doesnt affect property value. Having a house next door thats poorly maintained DOES. So thats another piece of information you can provide the Assessors office.
What else can effect your assessment? Lots of things like:
- Changes in public transportation. Did a bus route stop running? Put it in your letter.
- Pests: Are you getting skunks in the neighborhood or vermin? Note it.
- Violence and Crime: have these increased? Thats another point for your letter.
The second biggest expense in owning any house are your property taxes. Dont let an overvalued house send you to the poorhouse. Appeal your property tax valuation when you feel its out of line with the market realities.
