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Lowing your property taxes is as simple as understanding how they work. Since property values are estimated by a computer, your assessed value could be wrong, and you could be entitled to a smaller tax bill. How do you go about getting it?
When it comes to home improvement, some people are so handy, they’d never think of hiring of a pro. Others are all thumbs, so they always call for help. The rest of us fall somewhere in between. But how do you decide when a contractor is the way to go?
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While the credit crunch has made borrowing for… or against… your home more difficult, home equity loans and lines of credit remain popular for those with equity. Stacy Johnson explains what these loans do and if you should consider them.
If you’re behind on your mortgage, you’ve got options. One of those options is trying to get your lender to help you by doing any number of things: changing the rate on your mortgage, the terms…even the amount. Your ability to help yourself, however, depends on your ability to negotiate! So, negotiation is key [...]
Lowing your property taxes is as simple as understanding how they work. Since property values are estimated by a computer, your assessed value could be wrong, and you could be entitled to a smaller tax bill. How do you go about getting it?
You start with the annual estimate of your assessed value. This is what the powers that be think your property is currently worth. First, check for mistakes: is your lot size correct? How about your square footage? Don’t just assume the county is right.
Then see if the value makes sense. Get comparables by searching your neighborhood for homes that are similar to yours in age, size, and condition. Real estate agents can help.
And when you’re convinced your assessed value is too high, time to get some proof in the form of an appraisal.
“The single most important thing is to get an appraisal on the property. Because that’s a professional giving me his opinion on what the property is as opposed to coming in and just telling me you think property values are lower.” -Joel Greenberg, Property Appraiser, Consolidated Appraisal & Research Inc.
Bottom line? When you get your notice of assessed value, don’t just stuff it a drawer. Look at it. And if you think it’s too high, dig up proof, then talk to the assessor. Worst case scenario? Civics lesson. Best case? You’re going to save some serious cash.
For additional information, check out Appealing Your Property Tax Bill from Bankrate.com
Even while our nation’s real estate downturn is still unfolding, there’s been lots of talk about how to prevent a repeat in the future. But, proposals like the billion dollar bailout of brokers Fannie Mae and Freddie Mac aren’t enough… a drastic overhaul of the mortgage system is needed. Step one, remove the
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