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Lower your Real Estate taxes



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By : Sonia Smith    99 or more times read
Real estate taxes or property taxes widely differ in every state or city. Almost a quarter of the country’s homeowners are paying more taxes than their fair share every year. In certain areas, real estate taxes make up for the lack of income tax of a state and in others they are high in spite of the state’s claim on the fruits of one’s labor. An analyzer could help in determining if a home is over-assessed or over valued through several actors such as the number of bathroom and bedrooms, quality of construction, age, home condition, grade, square footage and whether it has amenities such as beautiful views or a golf course.

Most homeowners are sadly paying too much for their homes, so now is the time to find ways to lower your real estate taxes. Determine if the American Homeowners Association has all the necessary information on your property such as the size of the lot, number of baths and bedrooms and many more. Below are tips on lowering your real estate taxes.

  1. Proceed to the tax assessor’s office in your area and request for a copy of your property tax rate card. The card usually contains information on your home and improvements you have made. Determine if there are erroneous data and correct them immediately.

  2. Avoid making home improvements in the months before your home is assessed, especially if the project will require building permits. Keep in mind that making improvements on your home will increase its value and will also increase your real estate taxes.

  3. Be aware of what home improvements will cost more on taxes. Call your tax assessment office or the building official to give you an idea of how much a home improvement will cost on your real estate taxes.

  4. Typically, beautiful homes will generate a higher value compared to plain homes. In this regard, avoid beautifying your home such as enhancing its curb appeal.

  5. Try to find out how much real estate taxes your neighbor is paying. If you discover that your home is assess very high, find out why. You may also ask for a re-assessment of your home.

  6. If the tax assessor will ask to take a tour of your home, let him or her in because refusing to do so could mean a highest possible rate assessment for your home. In most cities, this is a standard practice due to the assumption that you have made improvements on your home that you do not want the assessor to discover.

  7. Draw the attention of the assessor to notice the negative features of your home. Property assessors will naturally note only the positive home features and will overlook aging roof, cracked foundation or useless fireplace. For a fair assessment, the negative features of the home should also be taken into consideration.

  8. If you are positive that you are paying too much real estate taxes, inquire from the assessors office on how to proceed to challenge the assessment made. Many offices have a formal procedure along with forms and step-by-step guide.

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