Are You Paying Too Much for Your Property Taxes?

Property Tax Tips

Property taxes are a part of owning a house. While there is no way to completely avoid paying your property taxes, there are some steps that you can take to help lower the cost. Keep these tips in mind to help lower the cost of your property taxes to help you save thousands of dollars.

  • Look closely – when you get your bill, make sure to take a closer look. Along with the amount that is due, you should also look at the assessed value and rate of taxation, which are what will determine the cost of your bill. If they are wrong, they can lead to a doubled or even tripled bill.
  • Check your assessment – tax assessments do not always keep up with the current market value. In many cases, your assessment may have to be updated every few years. If the property values in your neighborhood have significantly dropped in recent years, you may want to request a reassessment.
  • Look for errors – while the criteria for assessments will be different depending on the locality, they are typically tied to the fair market value of your home. Check to ensure that the information on your property is correct by asking your local assessor’s office. Check the square footage of your house, number of rooms, and type of property.
  • Compare – check how your property is ranking against similar properties in your area by looking at recent sales online. If you find that the assessed value of your home is much higher than many of the comparable homes in your area, you may want to consider making an appeal.

For all of your real estate needs and to ensure that you are paying the right amount for your house, contact Cary Amo, your Lafayette realtor.

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