Homeowners should expect their property tax bills to go down. Housing values across the country have plummeted in the last two years, with the National Association of Realtors reporting that the median sales price of existing homes in the country was down by an average of 12.5 % . Many homeowners who were expecting to see their property taxes go down are surprised to that they are actually rising. That's why a growing number of homeowners are filing property tax appeals.
There's a simple reason for this: many homes today are dramatically overvalued. But the only way to fix this is for homeowners to file property tax appeals, which can be a very complicated process if the homeowner isn’t familiar with its stipulations. A successful appeal can save homeowners thousands of dollars per year. That is why it is important to get the assistance of a property tax professional who can help you save money.
According to a report fromthe National Taxpayers Union, assessors haveovervalued 60% of the homes in the UnitedStates. The value that assessors have given thesehomes is often far out of line with what thehomes' actual values are. Most of the time, assessorserr on overvaluing a home rather than on undervaluingit because the extra revenue they collect fromproperty taxes makes funding the daily operationsof the municipality much easier.
There are more often than not discretions between a home's assessed value and its real value. But the nation's housing slump has lasted long enough now that property values should be falling in most markets. After all, the vast majorityof housing markets across the United States are suffering from a record number of foreclosures and housing prices are still far lower than they were just one year earlier. Property tax rates should correspond with this dip in the real estate market.
The problem is that filing a property tax appealis a confusing and complicated process. Thisis partially because property tax laws usuallyvary significantly from one municipality to thenext. This is because municipalities want tomake appealing your property taxes as difficultas possible so that you don’t do it. Themunicipalities use the tax money to fundtheir salaries and maintain their offices.
But there are steps homeowners can take to make sure they file a property tax appeal properly. First, it's important for homeowners to set up an appointment with a tax assessor. The assessor can explain exactly what homeowners must do to appeal their property taxes. They can also point out common mistakes that owners make during the process.
Even after meeting with their local assessors, homeowners will probably still have questions about how to file a property tax appeal and how to do it successfully. That's why it's important for homeowners to work with professional tax consulting firms. These firms can help consumers navigatethe complicated appeals process.
The professionals at Paradigm Tax Group help our clients successfully lower their property tax bills each day. That is because our team members are all highly skilled veterans in the tax industry. Our team members have earned the trust of our clients and the respect of the tax community. We want to help our clients with the entire property tax appeals process. We are a full service tax consultant agency that can save you money. We actively seek innovative solutions to property tax problems and we make sure to communicate clearly with our clients every step of the way. We want our clients to receive the lowest possible property tax rates as a direct result of their property tax appeal.
Paradigm Tax Group can help clients nationwide. We have 30+ office locations across the country and each of them is staffed with tax experts that can help you get a property tax appeal. Our ability to assist clients nationwide has made us stand out as one of the premier tax consultant agencies. Our specialists are well informed on the local regulations for property taxes for each of the areas we serve.
Property taxes are a largefinancial burden for many homeowners. This isespecially true today as the national economycontinues to struggle, unemployment remains onthe rise and wages are stagnant. There is noreason for homeowners to overpay on their propertytaxes. Property tax appeals can lower homeowner’stax burdens and preserve their lifestyles. Thebest way for homeowners to guarantee that theytake full advantage of their right to appealtheir property taxes is to contact the propertytax professionals at Paradigm Tax Group. Formore information on our property tax appealssupport, contact us today!