Tuesday, November 29, 2011

Challenge Property Taxes

People make mistakes and things change. When I bought my house, I noticed that the house was described as a three bedroom when it was only a two bedroom. The previous owners had done a major renovation, thank you, and made one bedroom out of two tiny rooms. Most of the houses in my town have three bedrooms: one larger room for the parents and two tiny rooms for kids. We challenged and got a decrease in the valuation, even though the house is better with only two bedrooms. The point is that it sometimes pays to fight City Hall. Maybe your house's original footprint was bigger or an improvement was never made or part of the house burned down. You never know. It pays to check. I know people who always challenged their property taxes and as a result pay significantly less than their neighbors. Also apply for every discount available. Don't be too proud. I once knew a woman who never challenged her taxes in the mistaken belief that she paid more because her property was worth more. When it came time to sell she found out exactly what her property was worth. In the meantime she paid the higher taxes for many years.

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