Tips in Lowering your Real Estate Taxes

Published: 20th May 2011
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Property or real estate taxes vary greatly from city to state and state to state. Almost a quarter of the nationís homeowners are paying more than the fair amount of real estate taxes every year. In some locales, property taxes make up for stateís lack of income tax while in others they are high regardless of the claim of the state on the fruits of your labor. An analyzer helps to determine if a home is over-assessed by considering several factors like number of bedrooms and bathrooms, construction quality, home condition, age, square footage, grade and if it has amenities like a golf course or great views.

Unfortunately, many homeowners are paying too much for their properties, so it is time to learn on lowering the real estate taxes you pay yearly. Find out if the American Homeowners Association has all information on your home such as lot size, number of bedrooms and baths and more. The following are tips on how to lower your real estate taxes.

1. Go to the office of the tax assessor and request for a copy of your property tax rate card. The card will contain information regarding your home and also any improvements you have made. Check out the card for possible errors and correct them right away.

2. Refrain from making home improvements in the months before your home is assessed, particularly if the project requires building permits. Bear in mind that home improvements could increase its value and so increase your property taxes.

3. Know what home improvements will cost more on your real estate taxes. Try to youíre your building official or tax collector to give you an idea of how much an improvement will add to your real estate taxes.

4. In general, pretty homes will generate a higher value than plain homes; thus, do not beautify your home like improving its landscaping.

5. Find out how much real estate taxes your neighbor is paying. If you discover youíre your home is assessed too high, try to find out the reason why. You could also request for a re-assessment of your property.

6. If the tax assessor has to tour your home, allow him or her in since refusal to let the assessor inside your home could result to your home assessed at the highest possible rate. In many cities, this is standard process because of the assumption that you have done improvements on your home that you do not want the assessment office to know.

7. Get the assessor to notice the negative sides of your home. Typically, property tax assessors will take note only of the positive features of your home and will tend to overlook a useless fireplace, aging roof or cracked foundation. The negative features of a home should be considered for a fair assessment.

8. If you are certain that you are paying very high real estate taxes, ask the assessorís office on procedures to file a complaint or challenge the assessment. Most office has a formalized process with forms and a guide.

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