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Updated about 14 years ago on . Most recent reply

User Stats

311
Posts
51
Votes
Tracey Williams
  • Investor
  • Columbus , OH
51
Votes |
311
Posts

How to reduce the tax?

Tracey Williams
  • Investor
  • Columbus , OH
Posted

I will be closing on my first property soon, I am so excited I can hardly wait for closing to come. I have been reading & studing real estate for 2yrs and finally took a step of faith this year.
Yesterday was inspection and everything went well.

The property is valued for 148k on the auditor's site and the tax for 2010 is $2980. Am in contract for 54k and the budget for repair is 12k.

My question is what do I need to do to get the tax reduce to the value that am paying for it, so that over $200 will not be going to tax from my rent.

Secondly, we are closing by the end of this month can I still get the tax adjustment done to reflect in the tax for 2011

Thanks

Most Popular Reply

User Stats

13,451
Posts
8,349
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
8,349
Votes |
13,451
Posts
Steve Babiak
  • Real Estate Investor
  • Audubon, PA
Replied

Some links:
http://www.biggerpockets.com/forums/48/topics/34592-tax-reduction-on-home-by-simply-writing-a-letter

http://www.biggerpockets.com/forums/48/topics/35271-here-is-the-tax-letter-

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