4 Essential Tips to Reduce Your Property Taxes

4 Essential Tips to Reduce Your Property Taxes
  • Opening Intro -

    If you are a property owner then you simply cannot run away from the clutches of paying taxes.

    The annual tax reports sitting in your mailbox may come as a real shocker and you may panic on seeing that the consolidated taxes are escalating each year.

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Thankfully, one can always find ways to sort things out even if it seems to be a Herculean task.

Many property owners believe that spending big bucks on property taxes is just a waste of time. Well, the hard truth is that if you have a property then you need to pay taxes for it. But what you can do is to take certain steps to reduce the taxes and ease the burden on your shoulders.

Here are 4 essential tips to reduce property taxes.

1. Check the property record card

One can never have a true picture just going through a tax report once. One should walk down to the tax assessor office in the locality and ask for the record card of the property. Much to your surprise, you will find that it actually mentions every nook and corner of the property and it would seem that your property has been scanned minutely for to assess its life and worth.

If you scrutinize the card thoroughly, you may find that there is a mention of a bathroom or a bedroom which does not exist at all. You must bring this issue to the attention of the tax assessor at the office and omit any false entries in the record card. Eventually these sorts of omissions will help to reduce the tax on your property.

2. Take a look at the properties of your neighbors

It is a good idea to look at all the houses in the neighborhood which occupies the same space as yours. If so then cross-check whether taxes paid by him is similar to the amount of taxes that you have been asked to pay. If there is a mismatch then do not hesitate to ask the tax assessor for reconsidering the taxes for your property.

3. Refrain from prior upgradation

If you have any intention of upgrading your property then put those on hold because that would increase your tax bills and it would be highly detrimental towards your efforts to reduce the property taxes. This is where a tax advisor would come in very handy as he will be able to clear any doubts on new construction. Do ask him a lot of questions and then finally make an informed decision.

4. No barriers to your property

One should never restrict the access to certain parts of your property as this would allow the assessor to imagine that a pricey possession has been stowed away in the hard-to-reach corners of the property. The assessor should be allowed to make wild guesses otherwise you will not be able to convince him for a property tax reduction.

One of the best ways to learn more about this topic is by sharing this article on social media sites like Facebook so that your friends and colleagues can share their personal tips on property tax reduction and you will feel free to ask them any questions pertaining to taxes.

Meanwhile you can check the following site for more information – http://www.marketwatch.com/story/6-ways-to-lower-your-property-taxes-2015-05-06

Money Management reference:

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Bestseller No. 1
The Tax Appeal Guide
2 Reviews
The Tax Appeal Guide
  • Michael Mila
  • Kindle Edition
  • English
Bestseller No. 2
How to Lower Your Property Taxes: A Step-By-Step Guide to Challenging Your Tax Bills
1 Reviews
How to Lower Your Property Taxes: A Step-By-Step Guide to Challenging Your Tax Bills
  • R. Harry Koenig
  • Simon & Schuster Books
  • Edition no. 1st Fireside Edition 1991 (05/01/1991)
Bestseller No. 3
Senior Citizen Guide to Lower Property Tax
3 Reviews
Senior Citizen Guide to Lower Property Tax
  • R. J. Bourisaw
  • Outskirts Press
  • Kindle Edition

Last update on 2017-07-25 / Affiliate links / Images from Amazon Product Advertising API

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