Saturday, November 1, 2008

Property taxes

It pays to protest your property taxes if you have grounds to believe you are over-assessed.
I bought a lot and the tax was assessed at about twice what I paid. I protested and got it reduced to what I paid.

I built a house on it and again, they assessed it at more than I paid. I protested and got it lowered to my cost. Then I moved to a condo and rented the house. My condo unit was assessed at much higher than one on the floor above mine with an identical floor plan. When I protested, they didn't want to reduce it, so I went before the appraisal board.

The appraisal board reduced it to a few dollars less than the identical one on the floor above me. Also, since property values had declined in the area where my rent house was located, they lowered that one without me having to go before the appraisal board.

I've saved thousands of dollars by protesting my property taxes. It is time well spent.

I've received advertisements from people who want to do your protesting for you, but you can do it yourself just as effectively. Just bring something to support your argument. Not everything works. I knew a man who had a store in Dallas and one in Ft. Worth. He tried to argue that his Dallas tax should be reduced because it was more than the store in Ft. Worth. That didn't work. You can't compare apples to oranges.

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