How to Reduce your Property Tax Bill
The most important thing to remember is don't assume your tax bill is set in stone. A little homework and due diligence can help reduce the burden
It can be hard to balance the desire for a beautiful home with the desire to pay as little tax as possible. However, there are some little things you can do to reduce your property tax burden without resorting to living in a dump. Avoid making any improvements right before your house is due to be assessed. Check out the neighbors—if they pay less tax than you but own a similar home, you may be in line for a tax reduction. You just have to ask for it.
1. Call the Assessor and ask when you can attend an "open book" hearing.
First- Each Village/I own/City is different- so, always start with your City Hall. Call the Assessor and ask when you can attend an “open book” hearing as to your property tax assessment Each Village/Town/City has specific dates for this each year. Usually the City Assessor’s Office will refer you to a third party that handles all their assessments.
2. Call the said third party assessor.
You simply call said third party, and set up a date and time to meet with them at your City Hall for your “open book hearing”; keep in mind they have a schedule all set up with specific dates and times so do this as early as possible so you can secure a date and time as dates and times are limited.
3. Bring tax assesment information with you to the hearing.
This is one of the most important steps. When you go to your “open book hearing” you need to have done your research. Bring with you tax assessment information as to your neighbors or similar properties in terms of square footage, lake access, acreage, etc. to present as a comparison. If there have been recent sales bring those in as well.
Look for Exemptions
Seniors • Veterans • People with certain disabilities • Agriculture properties • Homestead exemptions
Check with them to see if you qualify. The more information you present, the more the assessment company representative will listen and consider your position. (Note: assessment company representatives LOVE Excel Spreadsheets, so if you can put your information in an excel spreadsheet that they can take with them, they are more apt to pay attention to your material.
4. After the Open Book Hearing
After the hearing the assessment company will send someone out (without you having to be present) to re-review your property, and usually within a few weeks send out a letter to you advising whether or not they are going to reduce your property taxes. If the answer is no, each Village/Town/City has a formal procedure for filing an appeal of the “re-review” so call the Village/Town/City immediately for that information.
