How to pay lower property taxes - Highlands Ranch Homes
If you look really, really hard, you might find a silver lining in the darkest of clouds. When it comes to the gut-churning drop in home prices, the silver lining is the chance to reduce your property taxes. Maybe.
In most parts of the country, property taxes are used to support schools and local and county government. Since property, or real estate, tax is based on the property’s value multiplied by the tax rate, the tax should go down if the property’s value falls.
But it probably won’t go down automatically. Unless the home has sold recently, taxes are typically based on the latest assessment, and it’s common for years to go by between assessments. Tax authorities aren’t eager to reduce tax bills, so the homeowner has to take the initiative by filing an appeal.
Read the rest of the story.
In most parts of the country, property taxes are used to support schools and local and county government. Since property, or real estate, tax is based on the property’s value multiplied by the tax rate, the tax should go down if the property’s value falls.
But it probably won’t go down automatically. Unless the home has sold recently, taxes are typically based on the latest assessment, and it’s common for years to go by between assessments. Tax authorities aren’t eager to reduce tax bills, so the homeowner has to take the initiative by filing an appeal.
Read the rest of the story.
posted by Mike at
9:58 PM
