January 29, 2008

Property Taxes - Were We Able To Get Them Reduced?

In a previous post, I mentioned that we filed an APPLICATION FOR CHANGED ASSESSMENT in an attempt to get our property taxes reduced.

We received a letter from the County's Assessor's Office today stating that they reviewed comparable properties and agree that property values have declined. In our application, we requested that they reduce our property value from $340,016 to $275,000. Instead, they reduced our property value to $270,000, $5,000 more that we requested!

We simply have to sign the form and send it in. From that point, it should take 30-45 days to receive a corrected tax bill. We have already paid $1,842.50, half of our original $3,685.00 tax bill. We're guesing that our 2nd half of the tax bill will be reduced by ~$700, to $1,142.

Looking back, I thought this whole process was going to be a hassle. Thankfully, my wife was not of the same opinion and took it upon herself to call the County's Assessor's Office to find out where to download the form. After downloading the form, we spent a few minutes checking comps in the area on http://www.zillow.com/, completed the form, and drop it in the mail. . .Easy money.


Missy said...

Just coming out of lurking here to say you guys are really off to a great start in 2008. Very inspiring!

1MansMoney said...

Thank you very much Missy. I hope your year is off to a great start too!