Thursday, September 22, 2011

Reduced Property Taxes | Equifax Finance Blog | Chicagoland Real ...

tax formDo you feel like you?re paying too much property tax on your Chicago real estate? If so, you could always dispute the amount. The truth is that if your home is surrounded by properties that have sold for significantly less your home?s appraised value, a reduction may be possible.

In a recent post on the Equifax Finance Blog, Sam Tamkin shares tips for people in all cities. His article, ?6 Ways to Get Your Property Taxes Reduced,? explains that the process can be complicated. However, there are steps you can take to simplify things. Knowing how real estate taxes are determined and when to file your dispute are two important pieces on information.

As mentioned before, a property tax reduction may be easier to achieve if homes in your neighborhood are selling for less than your home?s appraisal value. If this sounds familiar, document the selling prices so that you can show proof. You may even want to take pictures of your home and comparable homes. With foreclosures and short sales at high rates across the nation, your situation may not be at all uncommon.

Tamkin also gives further instruction for preparing for a dispute. To learn all of his strategies, read the full article on the Equifax Finance Blog.

Source: http://www.chicagolandrealestateforum.com/2011/09/20/reduce-property-taxes-on-your-chicago-real-estate/

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