| “I have Recently Buyed a new Farm House and Taxes on that is too high according to the actual price of that property, so to get reduction on my property tax. Do I need a Property tax lawyer?”----> Property taxes are on the rise nationwide, even as property values are on the decline. In this tough economy, increasing property taxes mean more people are in jeopardy of losing their homes. QUOTE,” As many as 60 percent of properties across the country are overassessed,” according to the National Taxpayers Union. Property taxes are usually calculated by taking the assessed value of your home and multiplying it by the tax rate that has been determined by your local government. Applicable exemptions are then subtracted from your total bill. Property taxes are always controversial, and are even more so now that the economy is so bad and local governments are losing tax revenue. Because of the resulting budget shortfalls, counties and towns are eager to get every possible property tax dollar, so those taxes are rising. Since you believe your tax bill appears high, you might be right. To challenge your bill, you should first get a copy of your property's assessment from your municipality's property assessor's office and check to make sure all the reported information about your property is correct. Municipalities use different ways to determine a property's assessment. Experts advise you should check with the assessor's office about the way it calculates your home's assessed value. It may not always be the full market value of your home. It's important to note that homeowners cannot contest their property tax rate, but they can lower the assessed value of their home by filing an official appeal. Only 2 to 3 percent of homeowners attempt an appeal;20 to 40 percent of appeals were successful.
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