Appealing property taxes

Last year I shared how I filed an appeal to lower my property taxes. And I hope you too, take the time and keep the counties assessment of your home where it belongs. It isn't that difficult and the rewards are huge.

Then today I am reading Blueprint for Financial Prosperity and I was immediately worked up by a comment there:

(unless you just bought your house, then your home’s value is assessed at the sale price and there’s no way you can get that lowered)


First let me say, great article. I agree with him 100%, file that appeal. But, what I have found is that when you purchase property assessments do not change automatically. Although, if the property was under assessed at the time of purchase within 12 months you will be notified of the new assessment per your purchase price.

The problem comes, and this could be big in the current real estate market, when you purchase a property at a price under the current assessment. Do this and you are on your own. The county will NEVER decrease this for you. Find yourself paying the higher assessment and don't plan on an adjustment for prior paid taxes. Basically, you snooze, you lose. The county wins.

I was not aware of this,until I purchased my foreclosed home. My house was assessed for about $70k higher than my purchase price. This was a huge expense, that I paid the first year. Live and learn.

I filed an appeal, including my closing document and the next year, last year, it was corrected. The money I paid prior, is gone!

Lesson learned - check your county's website REGARDLESS, when you purchase property. Or if you are smart,before you purchase the property. Researching prior, could give you a bargaining chip for the tax dollars from the seller.

Another factor that is just as important is the FILING DATE! I have found that you must file your appeal by a certain date in most counties and that they only review once a year. So if you dawdle you could be out more.

Knowledge is power. USE IT!