Property taxes are a significant part of a homeowner’s monthly budget. Challenge your assessment, and you may be able to save hundreds (or even thousands) of dollars each year.
To be successful, you’ll have to show that your home has been overvalued. Take the time to research public property records. If comparable houses in your neighborhood have lower assessments, you have a strong case.
You may also be able to use a falling housing market to your advantage. Enlist the help of a real estate agent to prove that market values in your area have declined in recent months.
Finally, check if the assessor has made any errors in evaluating your property. If they’ve overstated the square footage, or number of bedrooms or bathrooms, you may qualify for a rate reduction.
For further insight into the appeals process, and advice on how to proceed, check out the following articles:
How to Reduce Your Property Taxes | BusinessWeek.com
Challenge Your Property Tax Assessment | The Motley Fool
How to Fight Your Ballooning Property Tax | MSN Money
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