Today I’m here to talk to you about potentially saving thousands of dollars on your real estate taxes. You’ll need to get it done by April 1, so listen up.
If you feel as though your property is being taxed too high, then you may want to appeal your taxes in hopes of receiving a lower rate.
Before I go any further, let me just say that I’m not an attorney or a financial advisor. I can give you a good indication of the estimated value of your property but if you want to appeal your taxes, I can give you great recommendations for legal and financial advice. The best part about this process is that it doesn’t take much work. You just rely on us, and we’ll get the job done for you.
The way that the tax assessment office values properties is not a perfect system.They are aware of this, which is why they are giving up to a 15% margin of error. That’s a big number.
“I can give you a good indication of the estimated value of your property.”
Here’s how it works. Let’s say your home is assessed at $600,000 and the tax rate is 1.6%. If a similar home is assessed at $510,000 or less, it would fall outside of the 15% buffer zone. Your taxes would go from $9,600 down to $8,400. You’d save about $1,400 each year by winning that appeal.
I just went through this process on a property in Jersey City. I was being taxed on a rate more than 20% above what the property’s value was. It’s very likely I’ll win this one and save around $200 per month in the process.
I wanted to make sure I let you know about this before the deadline to appeal comes on April 1. No, this is not an April Fool’s joke.
If you have any questions in the meantime or need any assistance, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.
