Give dysfunction a function5 of 8Is your house haunted by a bad layout? Good news: That may mean lower property taxes.Quirks inside the home are called "functional obsolescence," says Steven Housman, president of Property Tax Experts Inc., a property tax consultant firm in Hollywood, Fla. A simple definition of functional obsolescence is: homes with features that are neither practical nor desirable. For instance, do you have to walk through a closet to get to a bedroom? Does your four-bedroom house have a one-car garage?Functional obsolescence will make your home less fun to live in and therefore, less valuable when it's time to sell. But the upshot is that these quirks may increase your odds when challenging your property assessment. Related Articles:Avoid buying a money pitCut your tax bill8 home insurance tips2 homeowner tax breaksRelated Links:Check taxes in your stateUsing taxes to cut taxesProperty tax help offeredMap of city home values advertisement
Is your house haunted by a bad layout? Good news: That may mean lower property taxes.
Quirks inside the home are called "functional obsolescence," says Steven Housman, president of Property Tax Experts Inc., a property tax consultant firm in Hollywood, Fla. A simple definition of functional obsolescence is: homes with features that are neither practical nor desirable. For instance, do you have to walk through a closet to get to a bedroom? Does your four-bedroom house have a one-car garage?
Functional obsolescence will make your home less fun to live in and therefore, less valuable when it's time to sell. But the upshot is that these quirks may increase your odds when challenging your property assessment.
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