Budgeting Your Project

FAQs on Property Taxes

Nobody enjoys paying taxes, but most people enjoy the benefits taxes provide: rescue services, decent roadways, schools and parks. Property taxes can be especially controversial, particularly when the county’s assessed value of a home is nowhere near what the homeowner thinks it to be. It may help to understand the way property taxes are figured and what can be done if you believe your invoice is wrong.

How is My Home Tax Determined?

Your home is evaluated by the county with its money or market value. That value is the foundation for how much your tax burden is likely to be. The less valuable the appraisal, the smaller the tax invoice. The higher the value, the higher your property taxes.

What If I Had With My Home Assessment?

If you disagree with the evaluated value, you can contact your regional Office of the Assessor to inquire how the value was established. If you do not find the explanation acceptable, ask them for a phone number so you can contact the county Assessment Appeals Board to appeal the findings. Even if you appeal the appraisal, you are still responsible for paying your entire property tax invoice by the deadlines. If you prevail together with the appeal, you will be given a refund of the tax overage paid.

What If My Bill is Paid Through My Mortgage Business?

A copy of your tax bill is sent to both you and your mortgage lender. However, if you owe a supplemental tax bill it’ll simply be sent for you. Call your creditor to learn who’ll cover the supplemental tax bill.

How Do I Read My Home Tax Assessment?

An annual tax invoice should incorporate the following: property location and description, assessed value, the number of taxes due, a breakdown of those taxes being collected, if there is an exemption and how much it is, and finally, a message telling you that you are tax-defaulted if you are delinquent in paying a prior year’s taxes.

How Did My Taxes Boost While the Value of My Home Has Remained Stagnant?

In the event your tax bill has grown while the value of your home has remained stagnant or even decreased, it is possible that the taxing authority has increased the rate of its earnings.

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