Looking for help paying property taxes? Here’s how to find relief

Property taxes are like hidden fees that you must pay if you own any type of real property. Not only are property taxes a burden on all homeowners, they can be more challenging for seniors. The market value of your real estate increases over time, it also increases the taxes you pay, and sometimes owning a home seems impossible.

If you’re having a tough time with your property taxes, here are some options you can try:

Reassessing the value of your property

Assessing the estimated value of your home or property is an important factor in determining your property tax. Fortunately, if these taxes are high, you can reassess the value of your property1. For that, you will need a real estate agent or a real estate appraiser who has enough experience in this field. The market value assessor will compare your home to similar properties in your neighborhood or city and how much they are worth. This helps the appraiser estimate a more accurate market value for your home.

Get help with a tax relief program

Getting help from a tax relief program is another good option if you are having trouble paying your property tax2.

Property tax relief programs are different in different states or even counties. However, these programs are very effective in freezing, reducing, or even granting you tax breaks; Just search for a suitable tax relief program online. For example, Tennessee offers a tax relief program in more than 20 counties. If you live in New York, Los Angeles, or Austin, and many more cities, you can check with your city or county which tax relief programs are available. This can help you lower your property taxes by thousands of dollars.

It is possible to freeze property taxes, which limit the property tax in question to a specific amount. Also, the property tax relief removes or reduces the amount of the tax. This option is available to homeowners who meet the qualifying criteria.

Be on the lookout for exemptions

Some counties, cities, or states grant different types of exemptions if you qualify for the required criteria3. For example, you are eligible for exemptions if:

  • You have specific disabilities or abilities.
  • You are a senior citizen.
  • You are military service personnel or a veteran.
  • Lives or resides on farm property.

If you fall into any of the above categories, please contact your local tax authorities.

Appeal your tax bills

There is another feasible option available if your efforts to reduce your property tax have been in vain. You can use the Tax Appeal option to appeal the property tax. With this option, you can save thousands of dollars4.

Hire an attorney, and he / she will guide you through the entire process, for example you may need pictures of your property / home, take notes on the condition of your home, or even have a new appraisal.

Once the local tax board receives your appeal, they will review it, but this process can take weeks or even months. If the board approves your appeal, it will reduce the amount of property tax and the value of your property.

Find discounts

There are several options that can help you save money on your property taxes; you just have to keep looking for them. You can search for those options locally or in your home state. Also, keep searching online platforms for any type of tax relief available.

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