Property Tax Relief
If the housing market has softened in your area, try to look on the bright side. You may be able to win yourself a reduction in your property taxes.
An estimated 60 percent of taxable property in the United States is over-assessed, according to the National Taxpayers Union.
Start by comparing the assessed value of your home to that of your neighbors' homes and with the sale prices of comparable homes recently sold in your area. You can often find that information online at your local assessor's web site. While there, check the assessor's listing for your home to make sure the square footage and other features are correct.
If you feel your home's assessed value is too high, gather your evidence and make your case to your local property tax board of appeals during the appeals period — typically limited to the weeks or months after you receive an updated valuation.
