Why 40 to 60 Percent of Properties Are Over-Assessed for Property Taxes and How to Address It: Overlooked Adjustment Categories to Lower Your Assessment Property taxes are a major financial responsibility for homeowners. Calculated based on the assessed value of a property, they contribute to funding essential public services like schools, roads, and emergency services. […]
After you get the property tax appeal course it’s suggested to begin a property tax appeal on your own home, on your rentals (if you have them) or a client’s property as soon after you get the course. This is because the adjustment to comparables will be particular to each case and one learns best […]
Facts speak for themselves. It lets the listener decide. Facts along with well thought out explanations are necessary when presenting one’s case. One needs facts and evidence to educate those in a position to pass judgment. As years pass, home assessment valuations develop gaps between sales prices and assessed values. Municipal tax systems seek to […]
Homeowners and businesses complain about increases in their property taxes. Previous assessments are rolled over and few contest when properties are overvalued. If a property owner, a business or owner of rental property believes the new assessment does not represent fair market value, they need to appeal. The process of equalizing values of similar properties […]
A recent CBS News Headline: “Unpaid $8.41 property tax bill cost Michigan man his house”. It went to foreclosure and was auctioned off to a buyer for $24,500 even though the house was purchased originally for $60,000. This could apply to anyone under Michigan’s 1999 property tax law for similar amounts. The 83 year old […]
What about having an AI Property Tax Machine in charge? Benjamin Franklin once said: “Nothing can be said to be certain, except death and taxes.” Interestingly, Wake County, North Carolina has embraced artificial intelligence and machine learning algorithms to reinvent the property valuation process. Properties need to be assessed fairly so owners are paying their […]
Do you know what’s amazing about psychology? The day arrives when everyone in town hall sends out their IOU’s and homeowners and businesses receive their property tax assessment notice. Most will look at it, perhaps put it in a pile for later review. Most will dismiss it as an obligation. But, was it a trick […]
Americans Spent More on Taxes in 2018 Than on Food, Clothing and Health Care, Electricity and Telephone Services Combined! This news report from P. Jeffrey at CNS News showed up that said Americans on average spent more on taxes in 2018 than they did on the basic necessities of food, clothing and health care combined, […]
A home tax assessment is simply used to determine the value of the property for taxation purposes and may or may not reflect the actual market value for what you could actually get for the property if you sold it. The valuation is supposed to be based on a blanket appraisal for the area the […]
Although sometimes the properties are looked at physically, more often, assessments are amassed using old data and simply rolled over. One needs to challenge and dispute over-the-top property tax assessment! At the homeowner’s expense, property tax assessors are well known for inaccurate, unfair assessments. Even though property tax rates vary widely from state to state […]