If you have recently bought your house, you must read this. New homeowners should be on the lookout because, at the end of August, they probably received a Notice of Proposed Property Taxes in the mail that they are going to pay.
This document is very important for new owners. It is the draft where the county property assessor reports the value of your property, tax exemptions, and what the owner will pay starting next year.
It is essential to review the parameters that were taken into account to determine the market value of the property. If the homeowner believes that the proposed value exceeds the home’s actual value, he has until September 19 to submit a review petition to the county Property Assessor’s office.
It is very important not to rest on your laurels since the higher the value of his property, the more tax he will pay for it. Lowering the market value of your property in that document will help you save a lot of money, in the period of time that the house is your property. The law holds that next year’s property tax cannot exceed 3% of what you paid this year. That is, the less you pay this year, the less you will pay next year and beyond.
There are tax offices that can assist you in reviewing the market value proposed by the Property Appraiser in your county. If you have recently bought your house, you must read this.
If you have recently bought your house, you must read this
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