Member Education & Consumer Tips
Property Taxes - Are you paying too much?
The sizzling housing market has helped local homeowners enjoy strong gains on their investments. However, the downside becomes apparent when the property tax bill arrives in the mail.
Taking precautionary steps to ensure your property tax bill is correct is important. The American Homeowners Association (AHA) reports that only 2% of all property tax assessments are appealed - yet 75% of these cases result in a reduction in taxes.
If you think your property taxes are out of line, follow these steps:
- Do the math. Find out what similar homes in your area are selling for. Then check your assessment carefully.
- Check the records. Visit your assessor's office and ask to see your property record card. Make sure the details listed for your home are correct.
- Look for breaks. Some areas offer programs for low-income or elderly homeowners.
- Schedule a hearing. If you think you are being taxed unfairly, gather the facts and ask for a hearing at your local board of appeals.
For a fee, the AHA offers a Property Tax Reduction Kit to guide you through the process. It is available from their web site at www.HomeownerTaxCut.com.
