Property Taxes Records
Property Tax – Access to court!
A few years ago, I bought a rental and decided that my land taxes are too high. I $ 16,000 paid for the place (remember those prices?), but the county assessor had the property together with a market value of $ 18.400. Each spring, the county had a day where it could appeal the assessment in person, so if one of my title "judge."
I made the statement final showing what you paid for the property and mentioned that it was not related with the seller, and he had been trying to sell the property for six months. $ 16,000 that I paid was clearly a fair market price. Immediately under evaluation and the following charges, and all the process took only a few minutes of my time. Sometimes can be as simple as that.
It was a different story when my wife and I bought a house in Montana. We bought it in 2002 from a bank for $ 17,500 (I have a history of low prices to buy the property), having been on the market a few months. The evaluation that was $ 35,000 – exactly twice that you paid for the house, and taxed accordingly – more than $ 800 per year.
I collected data on other sales in the quarter, showing that the value is not so high (the town was economically depressed). I sent this information with a copy of our closing statement and the opinion of our real estate agent to the competent agency of state government that administers appeals, noting that the seller did not know (or even use your bank). But he did not move on the evaluation.
Apparently when calculating property taxes in Montana, who do not appreciate the value of what people do not pay for a house. Maybe they want to collect taxes is the basis of valuation. Even after raising the house and sold it for $ 28,000 that is designed to reduce the contribution for the next owner. Unfortunately, there are steps you can do with this type of dishonesty in government. Fortunately, they are more honest in most places, and if you have proof that your property is priced too high, you can get your property taxes reduced. Some tips to follow.
Reduce your property taxes
If you believe that payment of property taxes too much, go to the assessors office and see his map of the "ownership" or what they call the record shows that is used to evaluate your home or other real estate. Make sure the information is correct. Perhaps too many square feet space in the list or a garage that is no longer used in the displayed value. Take note of the differences can cause a higher valuation. Measurement of the house, for example, or take pictures to show the errors on the form.
Also search the property tax base around him (this is public information in most states.) If they are lower, see if you can determine why, or if yours is too high – and take notes. Each state has its own way of recording this information, you may need to seek help to decipher the numbers.
Get information on recent sales in your neighborhood to display the current value of your home. To do this, with the help of a real estate agent or office county in which paint a picture of the property (this would not be the assessor's office). A real estate agent can tell you how to make a simple market analysis, based on "comparable sales" to determine the value of your property.
In some states, property tax appeals process allows for an evaluation. Since that probably will cost $ 400 or more, be sure to be accepted as part of the appeal process. You should also consider how much to save tax before you pay for an assessment of your home or other real estate. Bring everything to the Appeals Committee or the person who manages the call and be polite but firm.
Another way to reduce your property taxes: You may want to consider moving to a region are lower. In Canon City, Colorado, for example, pay only $ 300 per year in our house, which is valued at approximately $ 67,000. This is the tenth of the speed we pay in Montana (or fifth part of the "official" anyway).
About the Author
Copyright Steve Gillman. To see a photo of the house we bought for $17,500, get a free ebook on how to buy Cheap Homes, learn how to do your own Real Estate Appraisal, and get a free real estate investing course, visit: http://www.HousesUnderFiftyThousand.com/real-estate-appraisal.html
Elderly homeowner feels pinch of property taxes
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