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Updated almost 13 years ago on . Most recent reply

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2
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Steve Anderson
  • Southfield, MI
0
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2
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How to Save My Property Tax?

Steve Anderson
  • Southfield, MI
Posted

Hi,
I have recently Buyed a new Home and Tax of that home is too high in prospective to the cost of the home.
Please can anyone help that how can i reduce my property tax?

Most Popular Reply

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5,271
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Steven Hamilton II
  • Accountant, Enrolled Agent
  • Grayslake, IL
2,325
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5,271
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Steven Hamilton II
  • Accountant, Enrolled Agent
  • Grayslake, IL
Replied

Steve,

Bring your HUD statement to your local assessor before you pay anyone too much. Most townships will automatically adjust the property valuation to correctly relate to the purchase price.

For example, in my area(very high taxes), one of my properties was purchase for 60k. The assessor adjusted the valuation to 20k(1/3 of FMV) so the property tax bill dropped dramatically as the valuation they had considered a FMV of 180k. My taxes dropped by 2/3 the amount.

Talk to your assessor before you pay anyone. Why pay for something you can do easily. A quick google search will inform you.

-Steven the Tax Guy

  • Steven Hamilton II
  • [email protected]
  • (224) 381-2660
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