Property Taxes Too High? What You Can Do

According to the American Homeowners Association (AHA), recent declines in home values make it up to 60 percent likely that your property taxes—like those of many homeowners across the country—are too high. Fortunately, there are ways to find out if you are being overcharged and steps you can take to get your property taxes lowered.

The problem stems from the fact that property values have fallen unevenly across neighborhoods, towns and regions. As a result, you may be receiving an unfairly high assessment compared to other homes in your area.

Reducing Taxes

To make sure you’re paying the right amount, start by checking the accuracy of the details about your home used in your tax assessment. Even if you don’t find errors in your own personal assessment, it’s possible your entire neighborhood has been overassessed.

“Recent fluctuations in property values, and local and state revenue deficits, have combined to make overassessments more common,” says Richard Roll, president of the American Homeowners Association.

“Depending on your municipality, you might also be eligible for property-tax exemptions, which range from senior citizen and active-duty military exemptions to one for those who own livestock.”

In addition, many errors were made when data was transferred by hand from paper records to computer databases. Get your detailed property tax assessment record online or from your assessor’s office, so you can determine if your property’s size and description are accurate.

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.

Assessment Kit

AHA offers a step-by-step Property Tax Reduction Kit that is recommended by CNN and Money and SmartMoney magazines. The 86-page kit shows how the system works and how to make it work fairly for you. You could uncover annual savings of hundreds of dollars or more by finding out:

• how property is assessed, and the built-in potential for errors;

• how to determine whether your assessment is correct;

• how the appeals process works and what’s involved.

AHA Membership

Membership in the American Homeowners Association provides a number of useful and money-saving benefits. In addition to a free copy of the Property Tax Reduction Kit, members receive free legal and CPA tax consultations; prescreened referrals for contractors, repair services, movers, home loans, and real estate professionals; $200 in free shipping on online purchases; thousands of dollars in grocery coupons; extensive discounts on travel, restaurants, auto services, retail stores; and savings on home and auto insurance, flowers, gifts, eyeglasses and prescriptions.

To learn more, visit www.homeownertaxcut.com.

To make sure you aren’t overpaying your property taxes, the first step is to be sure your home has been assessed properly.

Contacts

American Homeowners Association
Richard Roll, CEO, 203-253-7077