Now is a unique time to appeal your real estate taxes.  As property values continue to decline most property taxes have stayed the same or in many cases have actually gone up.  It's estimated that 60% - 70% of all owners are now over assessed i.e. paying more than their fair share real estate taxes.   Most of the people that do bother to appeal, win at least a partial reduction.  It has been estimated by industry experts though that only 2% of property owners actually appeal.  If you are considering appealing you real estate taxes, don't leave it to chance.   

Real Estate Tax Appeal

Without sounding overly jaded or cynical, your city does not want to give up any more of their tax base.  And owners that walk into the council meetings with a few comps and little knowledge of the process will do themselves a disfavor.  The real estate tax appeal process is not overly complex or difficult, though there are intricacies of it and it is important to be prepared. 

An afternoon of real research or reading should be enough to get you prepared if you are appealing residential property.   Areas to focus on include picking strong comparable recent sale (comps) and learning more about the common mistake that many assessors make recording your real estate information.  In addition, the process itself to appeal tends to be technical and the more you understand that aspect of it, the better. 

The savings can be substantially and ongoing for owners year after year.   If you knew you could save an additional $500 per year for the rest of the time you own the property, wouldn't you be willing to invest another 3 hour of research into it? 

The vast majority of people do nothing and continue to pay more than their fair share of real estate tax.  Be a part of the 2% that bother to appeal and save yourself and your family thousands of dollars.  Don't be intimidated by the process!  It is not hard nor do you have to either become a professional appraiser or invest hundreds of hours into it.    

property tax reduction