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Questions to Ask About Property Tax

 

It’s natural for the sale price of a home to loom large in your mind. But don’t forget to look at what your property tax bill might be.

What is the assessed value of the property?
Assessed value is generally less than market value. A recent copy of the seller’s tax bill will help you determine this information.

How often are properties reassessed in this area?
In general, this will happen annually, but properties in areas of slower growth may be reassessed less often.

When was the last reassessment done on this property?
Most significant tax increases on an individual property can be linked to when that property was last reassessed.

Will the sale of the property trigger a tax increase?
Depending upon where you live, the assessed value of a property may increase based on the amount you pay for it. And in some areas, such as California, taxes aren’t allowed to increase until the property in question is resold.

Is the tax bill comparable to other properties in the area?
If not, it might be possible to appeal the assessment and lower the rate.

Does the current tax bill reflect any special exemptions for which I might not qualify?
For example, many tax districts offer reductions to those individuals 65 and older.

 

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"The very best part of this business is meeting new people! Spending the majority of my career in Human Resource Management and Consulting, I truly enjoy the interactions with customers and potential clients. I have been a Realtor since 2002. I started Dick Clark Real Estate, LLC in August of 2007 and continue each day to strive for Customer Satisfaction with each transaction."

- Dick Clark

 phone icon  419-695-1006  phone icon419-230-5553  phone icon  dc@dickclarkrealestate.com