Are your
Property Taxes too high?
How much is too much?
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HOW MUCH ARE YOUR PROPERTY TAXES? The more real estate you own, the more property taxes you pay.
The higher the value of your home, the more property taxes you pay.
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Review the estimated amount of your property taxes and the amount of excess property taxes you are paying using the property tax calculator.
Simply enter your address & get to know your potential tax savings & a comparable property analysis
HOW IS PROPERTY TAX CALCULATED?
Property taxes = Market Value of real estate x assessment ratio x tax rate. The above simplifies the tax rate calculation by not including exemptions. Many states have an exemption for homesteads (primary residence owned and occupied). A more precise summary of property tax calculations is:
Property taxes = ((Market value of real estate x assessment rate) – exemption) x tax rate.
TWO PRIMARY TOOLS TO REDUCE PROPERTY TAXES Homestead exemptions for your house, and Property tax appeals.
HOMESTEAD EXEMPTIONS A homestead can be a separate structure, condominium or a mobile home located on owned or leased land, as long as the individual living in the home owns it. A homestead can include up to 20 acres, if the land is used as a yard or for another purpose related to the residential use of the homestead. To get this exemption you must file an Application for Residential Homestead Exemption with the county appraisal district between Jan. 1 and April 30 of the tax year – up to 2 years after you pay your taxes. Research homestead exemptions in your area and appeal your property taxes regularly.
*Download the residence homestead exemption form www.poconnor.com/homestead-exemption-form-2/
PROPERTY TAX APPEALS You should appeal your property taxes each time they are reassessed, and between reassessment, if your taxes are too high based on market value or fairness (if you are paying more than your neighbors).
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