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Property Taxes: How You Can Save Money This Year

Homeowners are seeing property taxes go up once again. However, there’s a way that you could potentially save thousands. Turns out, all you need to do is file an appeal.

Of course, it’s not as easy as it sounds. And there’s no guarantee that you’ll get your property taxes lowered this way. Still, though, it’s worth a try.

How To Appeal Your Property Taxes

Typically, the appeal forms will ask you for your name, property ID number, address, and phone number. If you bought the house within the last three years, you’ll also need to confirm the date of purchase and the price.

It’s not technically necessary, but it’ll help you to include proof that you’re overpaying on your property taxes. Since property taxes are public records, it’s as easy as going to the assessor’s website to get some houses to compare.

You can submit all of the forms and information online. However, depending on where you live, you may have to go to court for the appeal process.

The Do’s Of Appealing

First and foremost, do try it. Many counties have appeal rates of over 50%. You’ll never know if your taxes could be lower if you don’t ask the county to reassess your property.

Secondly, do hire an attorney to help you with this. The entire appeals process is cheap, and professional help could never hurt. It costs absolutely nothing to actually file the appeal. Many attorneys who work in this field don’t charge any upfront fees. On top of that, they typically won’t charge you at all if you don’t get your taxes lowered. If you win your appeal, many attorneys only look to get paid a portion of your newfound tax savings.

Lastly, do consider this process as part of your home maintenance. You could save hundreds or thousands of dollars by appealing. Then, you could use that money to offset your other home maintenance costs.

Looking into your property taxes can be done yearly, or however often you need. If you win, you’ll get a lower tax bill until your county reassesses taxes. According to The Sun, this timeline will depend on where you live.

The Don’ts Of Appealing

Firstly, don’t give up if you lose your first appeal. While success rates are generally high, there’s always a chance you could be denied. People buy and sell homes all the time. Thus, your property taxes will always change. If you lose your appeal this year, next year could be the year you win.

Most importantly, don’t feel bad about asking for an appeal. It isn’t unethical or wrong in any way. Asking the county to reduce your property taxes is completely within your rights. If you’re over-assessed, then you really are paying more taxes than you should be. And there’s nothing wrong with having a fairly-assessed house.