Top 3 ways to reduce your residential property taxes

Every homeowner feels one thing at common! I know how it feels like to pay higher residential taxes every year. The residential property taxes are calculated by the local government and you need to pay what you are accounted for every year. Sometimes homeowners have a doubt do I need to pay this much. If you are a homeowner which such kinds of doubts here are the top 3 ways that can reduce your property taxes assessed according to the value of your property.

Bill understanding

It is the basic thing which you know have a great idea about. The municipality generates a bill for you and most of the taxpayers don’t have any idea how it is calculated. When you are not aware of how your tax bill is generated it leads you to so many misconceptions. Let me give you a few tips on how bills are calculated.

The two significant numbers in your bill are tax rate and the current market value of your property. The tax rate is set by the state law and the rate differs annually or even once in five years. The property assessor values your property along with land and house which will help him to calculate the current market value of the property.

Here is the math part: Let’s consider your assessed property costs about $400,000 and the government sets a tax rate of 3%. Your tax bill will be $12000. This is how your residential taxes are calculated every year.

Know your card

The world which we are living right now is full of easy swipes! Likewise, your property has a card which contains all the details. You can go straight to the town hall and request a copy of your property tax card. The card will have all the details of the property in which you are living from the early days.

The card is an easy way to know your property inch by inch! If you feel there are some discrepancies with the card, then you can request the assessor to make changes which can eventually reduce your property taxes. I am giving you a hint that there are chances for your card to have mistakes but I am not pushing that point on you!

Protest for your bill

Do you know you can reduce your property taxes by protesting it? If you can then you need to find the experts who can reduce 50% of your residential taxes. Since the deadline to protest your property is approaching very quickly on May 15th you need to find the right partner! O’Connor offers a property tax protection program which is one of the best ways to appeal for your property tax every year and they do reduce your taxes with the right evidence.

With O’Connor, you are not billed for any court costs, appraisals, expert witness fees, and legal fees. On the whole, you don’t have any risk by signing up with them! Ponder how much money you are wasting from your own pocket by paying a higher tax amount? Think wisely and reduce your property taxes with these three tips!

Hi everybody, It’s Derick from Houston and am working as a freelance property tax consultant. I love reading and writing. Write to me @ derickjames784@gmail.com