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Sunday, October 6, 2019

The role of a property tax consultant

Why you should hire a property tax consultant

Part of the Careers in real estate category on this blog

If the values of the homes in your area have been going down, but your property taxes haven't followed suit, then you're not alone. Many homeowners have noticed that their property taxes don't reflect the recent changes in their home's value. The bad news – many times when a home's value drops a substantial amount, the homeowner ends up paying more in property taxes than necessary. The good news – there are ways to correct this situation so your next property tax assessment reflects the actual value of your home.

One of the most effective ways to ensure that your next property tax assessment is correct is to hire a property tax consultant. A local property tax consultant understands the tax laws and exemptions in your area and will help you maximize your property tax savings. Using their property tax knowledge, the consultant will carefully go over your previous assessment looking for any records that should be updated or adjusted. If you are paying too much in property taxes, a property tax consultant will be able to help.

Even if your home's value hasn't decreased over the years, it's still possible you've been paying too much for your property taxes. This is because the home appraisals quoted in property tax assessments are often overly generalized. One common way of obtaining a home's current market value during a property tax reassessment is referred to as a “drive by” or summary home appraisal. Unfortunately, this type of appraisal is often incomplete and may contain erroneous information which can lead to more costly property taxes.

Though your property taxes might eventually adjust themselves to match your home's actual value, such adjustments are often years behind if they ever occur at all. Because of this, many homeowners can save a lot of money by hiring a property tax consultant. If you are indeed paying too much for your property taxes, then a property tax consultant will be able to give you the necessary information to successfully appeal your latest property tax assessment, so you can start paying less in property taxes.

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