Tax Relief

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Tax Relief

August 31, 2008 - 00:26

Rising tax bills are a major concern to all of us. Each of us as homeowners may take advantage of the Small Claims Assessment Review program to have our own property assessments reduced. Since our taxes are calculated based on the tax rate per $1,000 of our assessment, if your property is assessed at an amount which does not reflect its accurate current market value, the Board of Assessment Review can reduce your assessment. I urge all taxpayers in District 6 to consider whether they should apply for a reduction in assessment this year. Take a look at your most recent tax bill and note the full market value shown. This has been calculated based on the residential assessment ratio and your home’s assessment. If it seems too high, you may ask the City’s Assessor’s office at 654-2054 or for the application forms, or contact a local real estate broker who will represent you at a fee which is usually a percentage of your first year’s tax savings. Even if you have had a reduction before, you may apply again if your current assessment appears now to exceed the market value. Applications may be filed June 2 through June 17.