The Key Aspect to Fighting High Property Taxes

Many homeowners are experiencing a shock regarding their property taxes. Despite the fact the value of homes in most markets have dropped dramatically in the last two years, their taxes are the same or rising. How can this be? It can’t and you should fight the problem by filing an appeal.

The key to understanding property taxes is to grasp how they are figured. It is done differently in each state, but most methods involve a municipality setting a rate. This rate is then multiplied times the assessed value of your home. The resulting figure represents what you owe, which is also known as a millage. (more…)