NASE Blogs

My property taxes seem to go up every year. What can I do about this?

Nov 16, 2014
In most states, annual property taxes are a factor of local tax rates, the home’s current assessed value, as well as exemptions for which the homeowner might qualify. It is important to make sure you are taking advantage of any existing exemptions which might apply. For example, is the home occupied? In many cases, owner occupants get a break. Are you over 65? Disabled in some way? Check with your local taxing authority to ensure that you are receiving credit for any exemption available. The home’s assessed value is most often the predominant factor in determining property taxes due. The higher the value, the higher the tax. In most states, property owners are allowed to “protest” the assessed value of the home. Your goal is provide evidence that the home value is less than was is represented by the taxing authority.

A  popular way to accomplish this is to find an experienced real estate professional in your area. They should be able to provide you with recent comparable sales data, often free of charge. Most taxing authorities base values on broad neighborhood price per square foot averages. Does your home lack updates, back to a busy street, or need repair? Be sure to support your position with recent photos.