Comments Off | Tuesday, April 6, 2010
A lot of homeowners have been seeing, for the first time, a reduction in the assessed values of their properties as county assessors take into account the housing market’s extraordinary downturn. Is it still worth it to appeal the property tax assessment?
Some of the questions to ask might be
Is your home in a census tract with high median home values and larger or newer homes ?
Are your neighbors doing the same ?
Did you purchase property your home within the past three years?
Is your property a smaller older property in areas where there has not been a dramatic run-up in property appreciation?
Property taxes come in a lump sum that comes twice a year. Other kinds of taxes are more hidden so you don’t feel the pain.
If you are curious about the current value of your home, contact a local Realtor who knows the market well, and who can provide you with adequate information to make your decision.