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Don't let property taxes overwhelm you.
Photo courtesy of Mat Honan.

The Tax Man Cometh

 
It's that time of year again—tax season. And for homeowners, that means confronting the property tax bill. According to the National Taxpayers Union, up to 60 percent of property was overassessed so it can pay to appeal your home price assessment. According to ABC News, one in three appeals actually win. Homeowners have 30 to 60 days after receiving their tax bill to make a formal appeal by calling the tax assessor. To gather material for the appeal, homeowners are encouraged to check out their neighbors' tax bills (public information!) and make sure they are similar. Homeowners should also call a local broker to find out what, how and for how much properties in the local area are selling. Also, verify that your property matches the description in the tax bill. You'd be surprised how often it's just plain wrong. Doing these things can potentially save you thousands of dollars this year, so don't be afraid to tackle this project with gusto.







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