Property Taxes - Should you be paying less; are you paying too much?


According to the American Homeowners Association (AHA), recent declines in home values mean that many homeowners are now paying too much in property taxes. Start by checking the accuracy of the home's details used in the tax assessment. A number of mistakes occurred when local governments transferred paper records to the Web. Most property tax assessment records are now online, but they're also available from the local tax assessor's office. Next compare property taxes paid on nearby homes, keeping in mind that entire neighborhoods could be overvalued. Finally, the homeowner should check available property tax exemptions in case one applies. Should an error be found, the homeowner should first call the property tax assessor to see if an informal solution can be found. Should that fail, the next step is to begin a formal property tax appeal process.

Source: American Homeowners Association