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Saturday, January 31, 2009

Remonstrate Against High Property Tax Assessments

By JONATHAN ECHOLS

High property tax burdens as a percentage of home values is typically an ever increasing heavy load to homeowners. Overhaul of state property tax increases, including a possible ballot issue to cut property taxes for homeowners whose home values have dropped, are a hot potatoes issue. It's harder for people to pay property taxes in today economic environment..

Basically it is a question of bringing in transparency into government by cutting expenses as well as insisting that government perks, pay and benefits mirror the private sector.

Government should mirror the private sector in wage and benefits. Instead government take unfair advantage by getting higher wages than the typical WalMart, Home Depot employee, get to retire in 20 years while the average Joe works till he's 65.

However, homes' values may be argued. The assessed price of a home is based upon an opinion of value typically derived from comparable sales. Taxpayers should know they can take action today to save on bad property taxes.

Creating regional appraisal review boards, reforming tax rate calculations or charging a property tax only upon the sale of a residence as one would treat an auto purchase and sale are other possible remedies for unfair property taxes.

Even in average times traditionally a higher error rate exists in property tax assessments. The National Taxpayers Union writes that as many as 60% of all homeowners are over-assessed and not in line with their home value. ("How To Fight Property Taxes" 2004 p.1). This fact alone gives one pause to check their property taxes. It also presents and excellent work at home opportunity.

You'll only be given a short period of time to present the facts of the case, so you will want to point out the key facts about the property. Point out the significant negative market factors that influence the market value of the property.

There are a few exemptions that may cut bad property taxes, but likely nothing as significant as an actual appeal. The property owner will also want to be prepared to respond to any questions that the board of property tax revision may have about the property. Be sure to use a reliable pathfinder in the form of trusted how-to property adjustment self-help handbook.

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