Question: Please explain why the tax office can charge a higher rate of tax for a small house over a house with more sq footage? I need to know this before I protest my property taxes. I have a small house and there are very few that were built that are the size of mine. They charge me $77+ for 1450 sq ft and $52+ for 2,000up sq ft.

Answer: All residential is charged at the same tax rate. Commercial properties are charged at a different tax rate. Sounds like there is a problem with the assessement.

As far as assessments go, very often the assessments are wrong. How do you change that? You'll need to find comparable sales and adjust those results to reflect the value to your home.

You'll need to make minor adjustments to the comparables you choose since they likely have different square footage amounts, may be newer or older, and other improvements or lack of improvements etc.

Declining property values could spark municipal tax increases as a result of the credit crunch. As an area’s real estate tax base shrinks with declining housing prices, increases in the tax rate is bound to increase.

Bloated town budgets need tax revenue to keep the same services. This would be an automatic tax increase in areas where home prices are spiraling downward, which seems to be the pervasive phase lately, throughout the United States.

Likewise, if a municipality enacts a mass appraisal for all the homes within it’s district and assuming the lower home valuations, look for massive tax increases.

Notwithstanding this impetus, cases for property tax reduction still have a good chance for a win on appeal. With an approximate fifty percent error rate on assessments, a little digging can present a very lucrative tax appeal.

And for areas that have not undergone a mass appraisal, the tax appeal pickings for cheap comparables should be easy.

When one files their residential property tax appeal a date will be scheduled for a tax assessment hearing. The assessments place upon a property do not necessarily reflect the true and accurate fair market value of the property.

Many taxpayers are seeing huge increases in taxes placed on their assessments because of lower property values. When home values decrease, tax rates increase on real estate assessments to make up the difference.

When appealing you assessments you need to find comparable assessments and good documentation o support your argument. Copies of the sold listing from real estate multiple listing services are a good source of information. You’ll find square footage, number of bedrooms, baths, extra features and a lot of useful information. Driving by your comparables also yields conferment of what you see on paper.

You need to determine what it would cost today to replace a similar item you are making an adjustment for in today’s market. In other words, what would a knowledgeable buyer be willing to pay for an item in a fair arms length transaction.

Any taxpayer has the right to appeal his or her property tax assessment for any reason. It is their right. However the burden of proof falls on them. That is why it is important to use a accurate and authoritative property tax reduction manual to aid you in your tax appeal. You’ll not find such ammunition from the appeal authorities, I assure you.

Dramatic inequities in property tax burdens are rampant. That is why you may be one of the 40 to 60%of the population that may qualify for a property tax adjustment. This can lower your property taxes enormously.

High property taxes are becoming back-breaking for many families. Many are forced to take a second mortgage or take on a second job. Many are forced to sell their homes and flee the state looking for less expensive areas to live.

Naturally the underlying reason for any tax increase is runaway government spending, government union feather bedding, and cowardice of government to put major budget questions on the ballot.

Taxpayers really want to vote on reduction issues such as a property tax cap, mandating government workers to be on the job for 35-years (everyone else has to work for 45-years before they retire) before retirement eligibility, elimination of property taxes all together and have just a sales tax … on the ballot.

The perceived treasure chest wealth of the average homeowner when they see their homes resale value slide down effects their spending. When their spending decreases it can drag overall spending and effects the overall economy.

The subprime mess will probably be around for some time according to statements by Treasury Secretary Henry Paulson and Fed Chief Ben Bernanke made recently. It’s chilling effect on consumer spending may possibly lead to recession.

Knowledgeable homeowners look into lowering their property taxes. The housing market comparable sold homes are reflected in the statistic that it takes over 10 months to sell the average home in the United States compared to 2-3 months in earlier years. In this buyers environment there is abundance of lower priced comparables homes. Property tax appeals make good sense.

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