I found this article which I thought was good, originally this was a blog that was posted for property management companies, real estate investors, etc., although a lot of this can apply right to owning your residence. I’ve heard lately how so many people are outraged with what they are trying to charge for property taxes all over the country. Hopefully this will help you and keep in mind when you are ready to make that next move don’t forget your friends here at the Military Relocation Connection Network.
More and more real estate property owners are appealing their property taxes. Most of them find that the appealing an assessed value of the property is simple and easy. In most cases the assessor comes back with an adjustment notice via mail or the differences are settled through an informal hearing. Very few of the disputes end up in court cases. Follow these 5 steps to appeal your property tax.
1. Compare the assessed value of your real estate property with the purchase price or the latest home appraisal based on any refinancing that you may have done.
2. Find the assessed value of similar properties in your neighborhood. You can find this information on many online real estate websites like Trulia, Zillow, etc. Also get a list of all sales of real estate properties with similar size for last 3 to 6 months in your neighborhood. Approach a local real estate agent to get this information.
3. Create a list of 5 properties that are very similar to your real estate property from the above list of properties. Compare these properties with your property to find differences in lot size, covered area, and any other factors such as location of property near railway tracks, highways, etc.
4. Take pictures of the 5 properties and your real estate properties. Walk around the property and find all flaws that you can with the real estate property. For example if you have a crack in the foundation, take its picture.
5. Determine the property tax reduction and fill out the property tax appeal forms for your locality and make sure that your appeal paperwork is turned in on time.
Take action today by following the above steps and put more money in your pocket
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