With the many things that one needs to remember and consider when buying a house, one things that can be pretty overwhelming is property tax. These taxes can continue even if the mortgage is paid off! Well fear not, read further and you can find out a few tips on how to lessen your property tax.
One thing you can do, which most people do not realize, is to request a copy of your property tax card from the local assessor’s office. This card will inform the homeowner about the tax history of the house. It will let you know the size of the lot, dimensions of the room, the number and types of fixtures in the home and it will include any upgrades that have been done. If there are any discrepancies, then you can tell the tax assessors and have a re-evaluation done.
Any changes structurally to your home will, in the end, increase your tax bill. So, when you are considering adding a new addition to the house, make sure to research how much this will affect your tax payments so you will be prepared. Your local tax department should be able to help you with this.
Unfortunately, tax assessors have a certain amount of subjectivity when it comes to assessing a home. But more often than not, more attractive homes receive a higher assessment. In a nutshell, your property is being compared to your neighbor’s and the urge to improve your property is strong, and this may cost you alot more in the end. Try not to make any cosmetic improvements to your house until after the assessment has been done!
Since you are able to look your own property tax card, this means you can also look at other property tax cards as well. This means you can review other homes and compare and contrast your own home. This can lead to finding mistakes that in the end can lower your own property tax!
When the assessment of your house is being done, don’t let the assessor wander around your home unattended. More often than not, the assessor will only see the new and improved features of the house, and not the things that are out of date. By walking with them, you can point of the old and new things in your home to ensure you receive the fairest evaluation possible.
This all may sound a little overwhelming and impossible. But just make sure to do your homework and due diligence to ensure you are receiving the fairest property tax you can!