Okay, enough about declining markets, soft sales, equity erosion — we’ve heard it all. Now here’s something we can do about it to put money in our pockets. Did you know that according to the National Taxpayers’ Association the majority of property is over-assessed? Now add in the recent plunge in real estate values in many markets — it doesn’t take too much imagination to see that there is a very good chance you are paying too much. And your county, bless its money-grubbing little heart, isn’t going to call you up and tell you to knock a few thousand off your bill this year.

So why not appeal your property tax assessment? It’s not difficult, and one-third of all appeals are successful. That cash might buy more than a few tanks of gas. And even better, taxes are considered part of your housing expense when applying for a mortgage. Lowering that figure could help you qualify for a better mortgage when you refinance.

This entry was posted on Monday, May 12th, 2008 at 11:22 am and is filed under Daily Pick. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.