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
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 from the National Taxpayers Union, assessors have overvalued 60% of the homes in the United States. The value that assessors have given these homes is often far out of line with what the homes' actual values are. Most of the time, assessors err on overvaluing a home rather than on undervaluing it because the extra revenue they collect from property taxes makes funding the daily operations of 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 majority of 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 appeal is a confusing and complicated process. This is partially because property tax laws usually vary significantly from one municipality to the next. This is because municipalities want to make appealing your property taxes as difficult as possible so that you don’t do it. The municipalities use the tax money to fund their 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 navigate the 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 29 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 large financial burden for many homeowners. This is especially true today as the national economy continues to struggle, unemployment remains on the rise and wages are stagnant. There is no reason for homeowners to overpay on their property taxes. Property tax appeals can lower homeowner’s tax burdens and preserve their lifestyles. The best way for homeowners to guarantee that they take full advantage of their right to appeal their property taxes is to contact the property tax professionals at Paradigm Tax Group. For more information on our property tax appeals support, contact us today!