Business & Finance Taxes

Learn How To Save Money On Your Property Taxes

Did you know you can appeal your real estate values set forth by your taxing jurisdiction? I want to give you some basic guidelines on knowing how to make a confident appeal to save money on your property taxes.
It's up to you to provide legitimate reasons why you feel the assessor has over valued your property.
Here's some recommendations to back up your values.
1.
Have you had an appraisal of your property done recently? 2.
Does your home have structural problems? 3.
Have you noticed homes similar to yours that are selling and revealing declining property values? This last question concerns using comparable sales to find values.
Let's take a closer look at using this method.
You can obtain comparable sales data from files at the county assessor's home office, real estate agents or title companies.
A person should work with real estate sales that are most identical to your property, and which sold nearest to the assessment or appraisal of your real estate.
The preferred sales comparisons are sales of very similar properties in your locale or vicinity.
For every different comparable sale you utilize, make sure to incorporate the parcel or account number, property address, date of sale, sale price and comparable property attributes.
Comparable attributes to take into account are:
  • Specific location-sales in the same subdivision or neighborhood
  • Land comparison-lot size or acreage
  • Desired attributes such as a view or waterfront
  • Sewer or septic systems
  • Unfavorable elements such as an accessibility difficulty
  • Water systems
  • Zoning Developments
  • Form of construction-wood framework, brick or other
  • Square footage of entire finished living space
  • Year built
  • Number of stories
  • Improvement style and quality
  • Building condition
  • Quantity of bedrooms and bathrooms
  • Fireplace
  • Garage or car port
Other Supporting Data
  • A map displaying the specific location of your real estate and comparable sales properties
  • Certification by others regarding issues
  • Prepared estimates of the expense to fix issues
  • Pictures
Appealing your property values is a property owners legal right.
If you can't reach a settlement with the assessor's office on lowering your values then by all means begin the appeal process.
Utilize the sales comparison technique guidelines as recommended above and get your property taxes lowered.

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