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Overtaxed Property Owners go Largely Unnoticed



April 12, 2010

 

It appears that local governments are using the collapse of the housing bubble to their advantage.  Up to 60 percent of the nation’s taxable property may be over-assessed, leaving property owners to pay thousands of dollars more than they need to.  According to this article, home prices have falling by 30 percent on average since 2007.  Yet, many counties only reassess every three to five years.  They have little incentive to reassess property more frequently because property taxes are important to funding local government operations. 

 

Homeowners are increasingly appealing the valuations, although the total number of appeals is still quite small.  The results are mixed.  Many local taxpayer groups and non-profit organizations are providing resources and hosting workshops to help homeowners with the process. 

 

Unfortunately, we’re left with a Catch 22.  Winning an appeal doesn’t always save you money.  Since property taxes account for nearly 45 percent of general revenue collected by local governments, municipalities make up the difference by raising taxes somewhere else- usually in the form of higher sales taxes. 

 

It looks like taxpayers are caught in a never-ending cycle of shifting the tax burden around from group to group. 


 

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Submitted by Observer at: August 21, 2014
leaving property owners to pay thousands of dollars more than they need to. According to this article,Observer

Submitted by chistesdejaimito at: August 21, 2014
leaving property owners to pay thousands of dollars more than they need to. According to this article,...chistesdejaimito

Submitted by jack13 at: August 20, 2014
home prices have falling by 30 percent on average since 2007. Yet, many counties only reassess every three to five years. They have little incentive to reassess property Ben Shaoul

Submitted by jason049 at: August 20, 2014
I also need suggestions on how to investigate this issue igblast.com

Submitted by Examiner at: August 20, 2014
They have little incentive to reassess property..Examiner

Submitted by carol foster at: August 20, 2014
They have little incentive to reassess property....carol foster

Submitted by website ranking at: August 19, 2014
home prices have falling by 30 percent on average since 2007. Yet, many counties only reassess every three to five years. They have little incentive to reassess property website ranking

Submitted by peter at: August 19, 2014
Property taxes are a scam. I hope to hear of whole cities of people overturning them and running the fat ducks out on a rail. http://finance.yahoo.com/news/21-day-fix-review-crucial-092900133.html

Submitted by ashar at: August 19, 2014
Very nice. I like it! Ben Celinski

Submitted by micheljhon at: August 19, 2014
It appears that local governments are using the collapse of the housing bubble to their advantage. Up to 60 percent of the nation’s taxable property may be over-assessed, leaving property owners to pay thousands of dollars more than they need to. According to this article, home prices have falling by 30 percent on average since 2007. Yet, many counties only reassess every three to five years. They have little incentive to reassess property more frequently because.. Brad Reifler

Submitted by https://plus.google.com/100704690420902897941/posts at: August 17, 2014
housands of dollars more than they need to. According to this article, home prices have falling by 30 percent on average since 2007. Yet, many counties only reassess every three to five years. They have little incentive to reassess property https://plus.google.com/100704690420902897941/posts

Submitted by kalgoorlie construction at: August 17, 2014
difference by raising taxes somewhere else- usually in the form of higher sales taxes...kalgoorlie construction

Submitted by jackman30 at: August 14, 2014
municipalities make up the difference by raising taxes somewhere else- usually in the form of higher sales taxes. http://www.textyourexbackforum.com/

Submitted by bob f at: May 7, 2012
Property taxes are a scam. I hope to hear of whole cities of people overturning them and running the fat ducks out on a rail. If you buy it, you own it, and shouldn't have to ever pay another dime in taxes on it. The cities will just need to deal with that and quit wasting money and be stopped from stealing houses.

Submitted by CHEQUITAX at: January 22, 2011
You should read SC former Attorney General opinion on this matter as it relates to the interpretaion of the law. The link is http://www.scattorneygeneral.org/opinions/pdf/2010/clemmons%20a%20d%20os-9054%206-9-10%20fair%20market%20value%20-%20real%20estate.PDF

Submitted by Stephen at: September 16, 2010
There are several services on the internet that help with filing appeals. Some cliam to do the whole thing. There are "how to" guys like Taxaxe that sound pretty good and there are guys that are more oriented to getting you the right valuation information like lowermyassessment. you might try googloing lower my property assessment to find several sources. Good luck

Submitted by CM2K at: May 28, 2010
OK, so I come here because you've been mentioned on TV as a place to go to fight your property tax assessment and what do I find? You want us to spend $10 to order some brochure. Can you say "scam"? Seriously, if you guys are legit, I can't tell it from your site. Sad. Really pathetic.

Submitted by dawn at: April 28, 2010
I thought I can get help thru this website as this was mentioned on TV however I haven't read anything yet on how to get property values reduced in line with the decline in values.

Submitted by Jeff @ NTU at: April 12, 2010
While we can't give specific tax advice, I wanted to pass along a couple of possibilities for you. One is our brochure on how to appeal your property taxes, entitled "How to Fight Property Taxes." It's available here, http://bit.ly/bicOCC. Another option might be our "Standing Together" brochure, which details how to start a tax group or battle, http://bit.ly/cbziJG. For Lindy in MA, Pete Sepp -- NTU's Executive VP -- suggested that you might want to try and get in touch with Citizens for Limited Taxation, http://cltg.org/. For Candy, Pete suggests, "I have heard of homeowners who were occasionally able to win retroactive relief, going back to the beginning of the assessment cycle or the date of change in value due to renovation. However, this is very rare." Please let us know how things turn out for all of you.

Submitted by Nadine at: April 12, 2010
I am having the same issue as many other homeowners ragarding the value of my home being reduced while my homeowners taxes are incraesing. How do I lower my homeowners taxes? I live in Lithonia, Ga.