Home Tax Guide

The Case-Shiller Index that monitors home values started to show a drop in home values after a 14% increase in 2006. In the early months of 2007, property values started a slow decline that averaged 1.5% in the first few months.  As 2007 wore on, the sub-prime challenge came more to light but not enough to be reflected in the home assessments in the beginning of 2008.  This declining trend rapidly accelerated throughout 2008 with, not only the sub prime issue but the failures of Freddie Mac and Fannie Mae.  Home values have lost an average of 20% nationwide.  Will this be reflected in your upcoming tax assessment bills?  Don’t count on it as the local counties and municipalities scramble to keep as much money coming to them as possible!

What can be done about this?   Read the this article and supporting ideas to learn more.

Times are very tough for the American homeowner due to several key events that have recently affected the housing market. The sub-prime crisis of late 2007 was followed by the failure of Fannie Mae and Freddie Mac, and resulted in a rapid decline in home values throughout the United States. Home values in every major market in this country sharply declined due to these developments, and today our homes are worth substantially less than they were ago. Yet for many Americans, their property tax burden has not changed a bit.

What can be done for you as homeowner, to help offset the precipitous drop in residential real estate values?  Well, one  thing you can do is seek out specialized knowledge and understand how to apply it intelligently in order to reduce your property taxes to the lowest possible level. This information is designed to help you take control of your property tax burden so you pay no more than your fair share of property taxes.  So, what specifically can you do today to make this possible?

First, obtain from your local assessor a copy of your home’s “property record card”, and scrutinize it, checking for any errors. Your assessment is based in large part on the information in that record card, and therefore if the assessor has inaccurate information about your home, chances are the assessment on which your property tax is based is also faulty. Does the record card accurately reflect things such as the number of bedrooms and bathrooms, and the usable square footage? Have the home’s amenities been listed accurately? By starting at your assessor’s office and obtaining a copy of your home’s property record card, you will be taking the first step in your due diligence to ensure you pay the correct amount of taxes.

Next, try to gain an awareness of what other properties similar to yours are selling for in your area.  Why is this significant?  The strongest, most persuasive way  to challenge a property tax assessment is by showing that you are over-assessed, based upon comparable sales of other homes in your area.

At www.hometaxguide.com, we can further coach you on the best ways to assemble this information and present it to the local assessor, thereby enhancing your chances of obtaining a property tax abatement.  We encourage you to check out this site thoroughly to see if your property might qualify for a property tax abatement.  As always, we thank you for taking your valuable time to determine if this property tax abatement system is right for you.  It is fully guaranteed if it does not fit your needs.