SAVE MONEY BY LOWERING YOUR REAL ESTATE TAX ASSESSMENT
Analyze your situation
Another way to get a reduction is to show that the value placed on your home is out of whack compared with assessments received by your neighbors. This may also be a relatively simple process if you can find at least three properties in your neighborhood that are similar to yours but have significantly lower assessments. (Your tax jurisdiction may publish the magic number it deems “significant,” such as 15%.) Real estate agents are usually happy to help homeowners learn the ropes because such assistance builds goodwill. “It’s not an imposition,” says agent Rick Turner of Hilton Head, S.C., who fields such requests two or three times a year. “After all, I’m in a service industry.”
The trick is to find houses that are both close by and similar to your own. Supporting evidence, such as photos and floor plans, helps. If you can prove that your house is actually in worse condition than the comparables — for instance, yours has a cracked foundation or flood damage, and your neighbor just put on a new deck and remodeled the kitchen with all the bells and whistles — all the better.
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