Follow Us: Google+
 
Bankrate.com

taxes

6 tips to make a case for property tax cut

Know your property specs
Next
3 of 8
Back
Cash and a house plan

One of the first things to do is to make sure the government has the right specifications for your property. These include confirming things such as the square footage under roof and the lot size. They're not always accurate, says Michael Mila, a Chicago-area real estate appraiser who owns Chicago Appraisals LLC and operates the website TaxAppealGuide.com. Often, the assessor may have simply looked at the outside of your house before rendering judgment.

"One of my clients had a one-story home with vaulted ceilings," Mila says. "They assumed the height reflected two stories, so they charged her for double the living space. She brought the sketch to the assessor's office and wound up saving $1,000."

You should have received a floor plan and boundary survey when you bought your house. Use them to determine your dimensions. A surveyor or engineer can help you here, but the cost will be $200 to $1,000, depending on the size of the property.


 

 

advertisement

Show Bankrate's community sharing policy
            Connect with us
Overnight Averages
Product Rate +/- Last week
30 yr fixed
4.01%
4.04%
15 yr fixed
3.11%
3.18%
5/1 ARM
2.82%
2.88%
View rates in your area:
Product Rate +/- Last week
30K Home Equity Loan
6.10%
6.08%
50K HELOC
4.75%
4.71%
30K HELOC
5.21%
5.21%
View rates in your area:
Product Rate +/- Last week
48 Mo New Car
2.58%
2.58%
48 Mo Used Car
2.70%
2.70%
36 Mo Used Car
2.76%
2.76%
View rates in your area:
Product Yield +/- Last week
6 Mo CD
0.41%
0.41%
1 Yr CD
0.62%
0.62%
5 Yr CD
1.23%
1.23%
Compare rates:
Product Rate
Low Interest Cards 10.93%
Balance Transfer Cards 16.00%
All Variable 15.25%
Compare rates:  
advertisement
Most Read
  1. No more Social Security at 62?
  2. What TV homes cost in real life
  3. Bruce Willis' house for sale
  4. 5 frugal ways to expand living space
  5. What it takes to remodel kitchen
  6. Naughty things credit card won't buy
  7. Danny Bonaduce's house for rent
  8. 12 'meanest' cars for the environment
  9. 10 ways to turn off a homebuyer
  10. Top 10 states for foreclosure
Looking for FREE tax advice?
From Federal and State tax law changes, to rates and tools, our expert advice will help you stay informed.
advertisement
As the economy slowly improves, states are beginning to dig out of their recession-level fiscal holes.
Partner Center
advertisement

Advertising Disclosure: Bankrate.com is an independent, advertising-supported comparison service. Bankrate may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.