What Cobb County Homeowners Should Know About Real Estate Taxes

Posted by Daniel Jones on Sep 27, 2018 8:34:00 AM

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One of the biggest responsibilities that comes with being a homeowner is paying property taxes. Everyone from Cobb County, school districts, and municipalities are taxing bodies that require property taxes to continue running. It doesn’t matter whether you have purchased a home in the past or are a first-time homeowner, you want to know how much your property taxes will generally be. In addition, every state and local jurisdiction is going to have their own way for handling taxes. Knowing how it works in your own community can help you understand what your overall property costs might be.

There May Be Penalties for Not Paying

Everyone knows that paying their property taxes is something they should do, but not everyone is aware that there are serious consequences for not doing so. Every state, city, and county will have their own penalties, but they can add up quick. In fact, if you stop paying your property taxes for an extended amount of time you could end up with your house in foreclosure. The best way to determine what penalties apply to you is by hiring an expert in real estate tax services, who can give you tax expertise that is related to your exact location.

You Don’t Have to Pay by Cash or Check

Depending on where you live, it’s not always required to mail in a check every time you make your payments. In Cobb County, you can pay your bill online using a credit card, debit card, or an e-check. You can also send a check or money order to the tax commissioner. While using a credit card can be a convenient option, make sure you understand if any fees are applicable when paying this way. It may not matter to you, but if you get a fee each time that is a percentage of the payment, that can add up.

Tax Breaks Are Available

While it can be a complicated and expensive process to purchase a home, owning one can save you money in other ways. You may be able to expect tax credits, tax deductions, and tax rebates the next time you get a tax bill in the mail. What’s even better is that the money you pay in property taxes over the year can be deducted from your federal income tax return when you file. This reduces what you actually owe and could even make you qualify for a refund. The important thing to do is be sure you pay your taxes on time every time.

Taxes Can Be Paid Out of Escrow

In many cases, you can make the process of paying your taxes a bit more manageable by using an escrow account. You can fund this account by paying a small amount of the bill with every mortgage payment. You’ll want to occasionally follow up with your financial establishment to be sure all of the bills are being paid on time. Your lender is responsible for paying these things, but the burden is on you to ensure it happens. If you are worried this isn’t happening, your real estate tax services expert may be able to provide ideas about how to go forward.

Eligibility for Property Tax Exemptions

While this doesn’t apply in all cases, there is a possibility that you are tax exempt with your property taxes. There are many different exemptions offered in Cobb County, and it can be complicated to keep up with each of them along with their requirements. This is another situation where a professional in real estate tax services can offer a lot of assistance. You can also speak with your local tax assessor to learn more about your options.

There are often exemptions for military veterans, those with low income, and those who are senior citizens. Homestead exemptions are another example of an exemption in Cobb County that can reduce your property taxes. These apply to all homeowners so be sure you are receiving the amount of the exemption removed from your bill. These are considered some of the best exemptions in terms of tax relief for homeowners, so living where you do has advantages.

Get Property Tax Estimates Before Purchase

Every city has different calculation procedures for taxes. Every state has its own way to do it, as well. The most convenient option to get an estimate is by using an online property tax calculator, but this may not be the most reliable and accurate choice. Instead, you should contact your expert in real estate services or speak with someone at your assessor’s office. This will give you the information you need about what amount you might be paying. In addition, any other questions you have can be answered on the same visit.

You Can Appeal Your Assessment

If you think you’re paying more than you should be on your property taxes, you can choose to appeal the assessment. You can do this on your own, or you can use a professional with an understanding of the process. While third-party help can require an investment, it also means that you will have a lot less on your plate. These experts know the facts behind the appeal process, whereas you might need to do significant research before appealing.

Get Expert Help Today

If you are interested in more information about property taxes, property tax services, and property tax appeals, Fair Assessments LLC offers resources, answers to common questions, and more. We provide the knowledge needed to handle a commercial property tax appeal in the Southeastern United States. We also assist with residential property tax appeal for those in Georgia. Don’t wait to get in contact with us. We would be happy to help.

Those who have questions or would like to speak to an expert can reach us by calling 404-618-0355, by emailing us at info@Fair-Assessments.com or contacting us by the form on our website. We’re available day or night to provide clarification and support.

Topics: Cobb County Tax, Fulton County Property Tax Appeal

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