Sometimes, the best way is the easiest way but we tend to overlook it because of the apparent complexity of the problem. This is true of the ways to lower property taxes although it may not seem so at first, especially for first-time homeowners overwhelmed by the rules and regulations concerning property taxes.
Here are the ways that you can lower the property taxes on your assets, year in and year out. Keep in mind that doing so demands vigilance and diligence, especially as there are many factors beyond your control like the millage rate set by the county. There’s also the fact that property taxes cannot be appealed – only the property’s assessment value can be appealed based on the grounds of uniformity, taxability, exemptions, and value.
Beware of Increasing Assessment Values
Always look at the annual notice of assessments for your property as soon as it gets in the mail. You will find plenty of useful information to lower property taxes on it, such as the when and where to file your appeal.
Most important, look at your annual notice of assessment for warning signs that, indeed, you will be paying more property taxes than warranted. The most obvious sign is that your property’s assessment value increased even if there have been no improvements made on your property. This is especially true when there were no exterior façade improvement and/or additions to the yard, such as a swimming pool, landscaping work, or gazebo, even a tool shed.
In this case, you are well-advised to file a property tax appeal against the assessment value of your property. Your property taxes will increase because its assessment value has increased, if you don’t do it. You should hire a tax reduction consultant to increase your chances for a winning appeal, especially if it’s your first time to do so.
Beware of Increasing Taxes
Aside from the annual notice of assessment, be sure to always carefully consider the items on your property tax bill. You may be shocked that your taxes increased but everything else stayed the same, most notably the assessed value on your property.
To put it simply, if the county’s tax rate stayed as is, then your property’s taxes should stay as is, too. This is with the assumption that your property’s assessed value stayed the same – or at least, didn’t increase by a significant value.
This is a good time to look at your property tax notices, bills and receipts. You will be able to see a pattern in these documents, particularly on these matters:
- How the county’s tax assessors valued your property over the years. Perhaps, your 3-bedroom room slowly became a mansion in their eyes even when its physical structure has stayed the same.
- How the county’s property tax rate increased over the years. Perhaps, you didn’t notice it that the millage rate slowly but surely crept up until the increase between Year 1 and Year 10 was significant.
But don’t lay the entire blame for your woes on the taxman either. You have to look at the possibility that, indeed, you have been remiss in your taxpayer’s rights and responsibilities. You may have, for example, failed to claim the exemptions that you’re entitled to.
Don’t dismiss these easy ways to lower your Cobb property taxes as too easy. You will be surprised that these are the foundation upon which your tax reduction consultant will start working on.
If you want to lower your Cobb property taxes, file a property tax appeal against the assessment value of your property. At Fair Assessments, we specialize in property tax reduction and we deliver outstanding results to our clients.