According to the American Homeowners Association, an average of 60 percent of homeowners are paying too much for their property taxes! No one likes to overpay, and overpaying on your property can be a serious setback. Below are several steps homeowner should take to investigate whether or not their property taxes can be lowered:

  • First, get your detailed property tax assessment record online or from your assessor's office. It's possible your entire neighborhood has been over-assessed.
  • Check with a real estate agent to get a solid understanding of what homes are currently selling for in your community. Professional agents will have the most up-to-date statistics on local market values.
  • Check the accuracy of the details about your home used in your tax assessment. Determine if your property's size and description are accurate. Errors are commonly made in transferring data from paper to online. Make sure details like the number of bedrooms and bathrooms is correct and that any defects that could affect the value of your home - such as a leaky roof or cracked wall - are noted.
  • If errors have made your assessment higher than it should be, try working informally with the assessor rather than going through a formal appeal process.
  • If the correction cannot be made informally, you'll need to make a formal appeal. There may even be a process for appealing your taxes online. Keep in mind that there is usually a narrow window of opportunity in which to file an appeal. Some jurisdictions set aside a time every year to hear appeals, while others only consider appeals for a few months after your house has been reassessed, which is often not every year.
  • Depending on your municipality, you might also be eligible for property-tax exemptions, which range from senior citizen and active-duty military exemptions to ones for those who own livestock.

Throughout the entire process, it's important that homeowners maintain fastidious records, and the proper documentation will be critical to supporting your case. 

As a Member of the Top 5 in Real Estate Network®, I have a wealth of real estate and homeownership information that may be of help to you. Feel free to contact me any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.