What do you do if the taxman thinks your house is worth more than you think it’s worth.

By
Real Estate Agent with Professional Realty Group
https://activerain.com/droplet/yCl

It is amazing how many homes we go to that are over valued by the tax man.  What this means is that you will be paying more money then you should for property taxes year after year until this is corrected.  If you are not sure if your property is over valued, grab your most recient tax assessment then visit the link below to recieve a report on the market activity in your neighbourhood.  Compare the recient sales that are similar to yours and if you believe that your assessment is higher then what some of these sales are you, may have a case for an appeal.

CLICK HERE to find out what is happening in your neighbourhood.

I have just come accross a good article below that helps to explain the process.  If you have done the exercise above and would like to understand the process a little more, read this article titled Assessment Appraisal. 

Please don't hesitate to contact me if you have any questions regarding real estate activity in your neighbourhood.

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Jason Beattie, Realtor

Professional Realty Group

www.BTGroup.ca

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Rainmaker
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Bill Jones
Discovery Real Estate Ltd. - "Homes By Jones" - Airdrie, AB
Realtor (403-701-1739) Airdrie & Calgary Area Homes and Condos
Good post Jason, there is another school of thought to this and that is when the property hasn't been re-assessed for a number of years and there have been a number of upgrades to the property, ie: basment Finished, Fireplace added, deck added. While the owners likely got a permit to do the reno's the municipality doesn't always re-assess the home. For instance I have a fully developed walk-out basement that was developed with permits in 1994, however the municipality has my taxes lower than my neighbors and shows my home with no basement development. Here's the problem for buyers if they buy a home that is under taxed, they could be in for a rude tax bill within the next 12 months if he city gets around to reassessing the property. There won't be back taxes but there could be a large tax increase. Buyer Beware. Bill
May 03, 2012 11:40 AM #1
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Rainmaker
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Jason Beattie

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