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Saturday, January 31, 2009

Fight Property Assessments

By JOSHUA GREEN

High property tax burdens as a percentage of home values is routinely an ever increasing expense to homeowners. Overhaul of state property tax increases, including a possible ballot issue to cut property taxes for homeowners whose home values have dropped, are a hot potatoes issue. It's harder for people to pay property taxes in today economic environment..

Often scare tactics of cuts in service are employed. A governor of NJ threatened to close the beaches and parks, even the casinos if his state sales tax was not passed. He wouldn't look into actual cutting the fat and excesses out of the budget and got his tax increase passed.

Others suggest property tax appraisal caps and government belt tightening. Government often argues for a higher sales tax to dodge the obvious cutback solution. Even other insist on cut backs on conditions for extravagant early retirement doable to many after 20 years service.

Property tax caps and higher state sales taxes are some of the solutions offered by government. Should you be worried about your property taxes with foxes in the henhouse making the rules don't rent extraneous jobs and expenses?

Creating regional appraisal review boards, reforming tax rate calculations or charging a property tax only upon the sale of a residence as one would treat an auto purchase and sale are other possible remedies for inequitable property taxes.

Generally, under average times a very large error rate exists in the compilation of property tax data. The National Taxpayers Union writes that typically as many as 60% of all homeowners are over-assessed and not in line with their home value. ("How To Fight Property Taxes" 2004 p.1). Here lies the business work from home opportunity for individuals looking to help others get their property taxes in line.

We're seeing a big number of families facing foreclosure and rising property taxes and their home values fall. That doesn't sit right with most people's gut reaction.

Most people don't have the time or knowhow to challenge their wrong property taxes. Errors exist in homeowners tax data especially considering that comparable home prices are dropping. But home values can be argued and formal appeals to the board of assessment are the way to proceed. File the appeal form on time and use a reliable teacher in the form of trusted how-to property adjustment self-help ebook.

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