1 easy way to save a grand in a year; reduce your property tax

Almost a year ago I stumbled onto a little company called ValueAppeal. They offer to help you file to have your property tax reduced based on an overvaluation of your property. I have finally gotten through the process and am ready to do my Valueappeal review only to find out that they dropped that part of their business. But the good news is, anyone can still fill out the paper work and challenge the valuation of their property.

The time when the usefulness is getting shorter as property values are beginning to rebound from the recession, however it may still be worth your while if you want to pay less in property tax to look at properties around you and see if they are worth more or less than yours

Property Tax basics

Property taxes are taxes on real property (usually homes) which fund schools, and other services for a county or region. They are based on the real or perceived value of the property.

If you decide to go through this process it is not a time to be emotional, you don’t really want to admit that your home is not worth as much as your neighbor but the reality is there are more factors than you can control that contribute to the value of your home. Most taxing districts allow for some sort of process to object to the value of your property, you may need to fill out some paperwork and perhaps attend a hearing. But it is possible to save thousands of dollars a year. I was able to save over $1500 dollars. Which will be helpful if we need to rent out our current property.

Image by danmoyle

1 easy way to save a grand in a year; reduce your property tax