American homeowners have noticed their property taxes increasing each year, with the average reaching $3,719 in 2020.
That’s 4% higher than in 2019 according to The Sun.
What you pay in property taxes is determined by what your house is worth and the rate of tax in your state.
In 2021 the median home value rose by 2% each month, resulting in higher taxes.
There are some things that can be done to help avoid making the increase worse than it already is.
Should I sell my house before I retire?
Four ways to stop your property tax from increasing further
Don’t make major changes that would increase your home’s value
If you make major changes that could increase the value of your home it will increase your property tax.
Pools, patios, and decks or fences could increase the value of your homes.
New and nicer siding could as well.
If an assessor is coming soon, hold off on your projects.
Housing: Rising mortgage rates will worsen market, home buyers feeling stress
Stay with your assessor while they evaluate the value of your home
You should be present with the assessor when they show up to look at your home.
This will make sure your value is determined fairly.
If there are bad things about your property, the assessor may not notice until you point them out.
Look for property tax exemptions
There are some property tax exemptions you may qualify for that could lower your bill.
This includes
- Senior citizen exemptions
- Military veteran exemptions
- Disability exemptions
- Homestead exemptions
Appeal the result your assessor came up with
You can appeal the result if you feel that your property taxes are too high.
It’s said the 30% to 60% of property is over assessed.
You can file an appeal through your local tax office and hire your own independent assessor to give their opinion.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected].