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Are you Paying too much Property Tax?
Top 15 Metropolitan
Areas with Home
Price Depreciation

First Quarter 07-First Quarter 08

Metro Area        Rank      4th Qtr

Miami
Las Vegas
Phoenix
Los Angeles
San Diego
San Francisco
Tampa
Detroit
Wash. D.C.
Minneapolis
Cleveland
Chicago
Atlanta
Boston
Seattle


Source: Standard & Poor’s/Case-Shiller
For taxpayers who may be
experiencing difficulty in paying
their property taxes, there may
be help.  Most cities in the
United States have Property Tax
Poverty Exemption Policies and
Guidelines. read more
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
25.9%
24.6%
23.0%
21.7%
20.5%
20.2%
19.6%
17.9%
15.3%
14.4%
10.0%
9.5%
6.5%
5.9%
4.4%

State property tax systems typically follow one of two ideas:

That all property, without enumeration, is taxable unless specifically
exempt or
That only such classes of property as are specifically enumerated
are taxable.

In virtually every state, the property tax follows a market-value based
system under which property is taxed on the basis of its fair market value.
The concept is commonly understood to represent the price the property
would bring at a fair, voluntary sale. In other words, the value at which the
property would change hands between a willing buyer and a willing seller,
neither being under any obligation to buy or sell and both having
reasonable knowledge of relevant facts.

The extent to which a given parcel or item of property is subject to taxation
is generally dependent on several issues. The first is whether the property
constitutes real property, tangible personal
property, or intangible property. Next is who owns the property and to what
use the property is put, because that ownership and/or usage may dictate
that the property is entitled to full or partial exemption from taxation.

State definitions of "real property" generally include land, any
improvements permanently attached to the land, as well as all rights and
benefits from ownership of any lifetime or greater interests in such land
improvements. "Personal property" is generally defined by way of exclusion,
with all property other than that falling within the definition of real property
being considered personal property.
Income tax versus property tax

Like many American’s earlier this year I went and visited my accountant to
prepare and file a federal tax return. Many thoughts raced through my mind
on how to spend my newly found fortune, new clothes, a well-deserved night
out or possibly pay down the credit card. Although all of them sounded
appealing, like many of us I used my tax return to pay my property tax bill.
This is a common for many of us; use our tax return to pay our property tax.

This vicious cycle has been played out every spring since I became a
homeowner. It was not until last year that I thought about all of the planning
and preparation that went in to my federal taxes, only to glance at my
property tax bill and write a check without read more
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Success Stories

Nancy & Robert $2127  
a year savings Folsom, CA

Aaron B.  $978
a year savings Ann Arbor, MI

Mike & Sandra  $1187  
a year savings Wellington, FL

Gary & Jen  $1688
a year savings Crestview, NJ


Add Your Success
Story start quote Today
The National Taxpayers Union estimates that as much as 60%
of taxable property in the United States is over assessed. However,
only 5% of homeowners protest their assessments. Most people
are unsure of the process to lower their taxes or have never known
anyone that has. This site hopes to give help through information
contained here or through our network of "Property Tax Experts" to
help you pay your fair share of property tax.

Mistakes can often be a reason why a taxing authority values your
home for more than the current market would allow. Obvious
mistakes aren't difficult to spot. Is the square footage figure
correct? Does the assessment say your home has four bedrooms
when it only has three? Property description and information with
your assessor should be reviewed for errors.

More importantly with this downturn in the housing market mainly in
the United States, home values are declining and for many who
purchased their home when the values were at their peak, you may
find a greater impact.

Each year we file a personal tax return
to assess how much income tax we owe.
Why is this not the case with property taxes? Did you know many of
us pay more annually in property tax than income tax, yet ignore
assessing our property tax bills. Just like with income taxes, there
are deductions and credits we can take advantage of, and the tax
rate is based off the value of your home. If you made $100,000 in
income last year and $80,000 this year you would expect to pay
less tax. If your home was worth $100,000 last year and now its
worth $80,000, would you pay less in property tax or continue to
pay too much tax?
Free property tax valuation. Are you paying too much? Let one of
our Property Tax Experts prepare for you a no obligation report.