If you could lower your property tax would you do so immediately? Of course you would. The less you pay in property tax the more you are going to save. There are several ways that you can lower your property tax bill, and in turn keep more money in your pocket.
Here are several tips for lowering your property tax:
1. Review your property tax card. This is something that many homeowners neglect to do. Did you know that you can visit your local county building or town hall and request this information? Once you have this in your hand, you should review it for discrepancies. At this point, the property tax assessor will make any necessary corrections and then consider a re-evaluation.
2. Before you build, think about what it will do to your property tax. Any structural change to your home is sure to increase its value. This could include anything from a storage shed to a swimming pool. Of course, you should not avoid making changes to your home just because it may increase how much you pay in property tax. Just make sure you speak with your property tax assessor to get an estimate of the increase that you will face.
3. Collect information on other homes in your neighborhood. As noted above, you have the right to learn more about your home by requesting a property tax card. But did you know that you can also view the same information for your neighbor’s home? By reviewing comparable homes in your area, you may find that you are being over taxed. If you come across a similar (or better) home with a lower property assessment, you may want to request a reassessment.
4. Show the property tax assessor what your home has to offer. One of the biggest mistakes you can make is letting an assessor inside your home, and then letting him roam about alone. When this happens, the assessor will often times overlook any downfalls while only taking into account the upgrades you have made. By accompanying the assessor, you can point out both the good and the bad. This goes a long way in helping you lower your property tax.
Overall, lowering your property tax is not impossible. Remember to review your property tax card, consider all improvements before making them, and compare your assessed value to similar properties in your area.