Regarding real estate property taxes, no matter where you live and own a home, there’s government and taxes. Real estate property taxes keep local municipal authorities afloat by means of property tax assessments. Every 8 to 20 or more years the local or county government will conduct a mass blanket reassessment. This is the process for placing a value on all properties for property tax purposes.
Ways To Lower Real Estate Property Taxes
Studies have shown that there is a good chance that a homes property tax is over-assessed. Consumer Reports has published that property tax records show an error rate of 40% exists in estimating property taxes. The National Taxpayers Union writes that as many as 60% of all homeowners are over-assessed
If you’re over-assessed, you can always appeal your case to the tax assessor. If you’re not satisfied, there is the court of appeals and lastly the judicial appeal level that will hear your case and reach a decision. It’s not hard to do and we offer free training to get you started found at our homepage.
Real Estate Property Tax Deductions and Exemptions
You can also lower your property tax bill by taking advantage of state and municipal programs that offer exemptions or tax deduction for:
- Homestead Rebate
- Senior Tax Exemption or Freeze
- Veterans Property Tax Deductions
- Deductions for Senior Citizens (for instance, in New York you get a 50% break on your property tax)
- Disability Exemptions For Homeowners
We suggest you go online to see what exemptions or tax deductions are offered in your area and what you could qualify for.
Residential and Commercial Real Estate Taxes
The appraised value for real estate is multiplied by the local tax rate which determines the amount owed. For residential properties the estimated value for that real estate is based on the market value derived from a mass blanket assessment for that area.
For commercial properties a different method is used called the Income Method. This method takes into account all the overhead, fixtures, furniture and equipment used to conduct that business. The tax rate us usually higher for businesses.
Free Real Estate Property Tax Appeal Help Guides
No matter what real estate is owned, one has the right to appeal their property tax if they suspect they are over-assessed. Naturally, you need to bring justifiable evidence as proof to win your case.
We want to help you resolve if you have a property tax appeal. We will give you for free:
- Mind Map for a Winning Property Tax Appeal
- Property Tax adjustment Category Worksheet
- Free access To All Comparable Sold Homes In Your Area
Claim these free market valuation and property tax appeal resources by going to the home page on this site.
Property Tax Appeal Business For Residential and/or Businesses
Appealing property taxes for real estate can be very profitable. There is little competition and the financial reward can be large. Generally, there is no charge to the homeowner or business other than a small processing fee. The client’s case is secured with a contingency agreement where the property tax consultant gets renumerated when the case is won.
Property tax consulting is a side business one can work from home and no license is required other than in Texas. This is a trillion-dollar industry and anyone who steps into this business is surrounded by potential clients.
Most real estate owners don’t know if they are overcharged and with the pointers offered in the Real Estate Property Tax Appeal Training Course that is offered, getting clients is easy. When you win, your client will praise you. You’ll get referrals.
The commercial side of being a property tax consultant offers higher rewards. That too is included in the full Real Estate Appraisal & Property Tax Appeal Training Course.
Click top of page on left title “Property Tax Appeal Training Course” for access.
