Is there anyway to reduce property taxes if I just bought a home and it needs lot of repair?
March 19th, 2011 | by admin |Is there anyway to reduce property taxes if I just bought a home and it needs lot of repair? It will take me more than a year to fix it up so I was wondering if i could get a break or even depreciated so I do not overpay for property on taxes because it is nowhere close to being worth what they say on appraisal tax office.. Live in Texas
Call the tax assessor’s office and ask what the procedure is for a re-assessment. Tell them you just bought the house and believe the prior assessment is no longer valid. There will probably be a form to fill out. One thing to realize is that if your new house is coming up for re-assessment anyway, they may decline and have you wait. Also, some jurisdictions do not allow re-assessments outside of a very narrow window (90 to 180 days) immediately following notification of a new assessment.
3 Responses to “Is there anyway to reduce property taxes if I just bought a home and it needs lot of repair?”
By Steve D on Mar 19, 2011 | Reply
Call the tax assessor’s office and ask what the procedure is for a re-assessment. Tell them you just bought the house and believe the prior assessment is no longer valid. There will probably be a form to fill out. One thing to realize is that if your new house is coming up for re-assessment anyway, they may decline and have you wait. Also, some jurisdictions do not allow re-assessments outside of a very narrow window (90 to 180 days) immediately following notification of a new assessment.
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By someone on Mar 19, 2011 | Reply
Only procedure is to Appeal your Assessment. Tax Assessor can provide you with the Forms.
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By Woof on Mar 19, 2011 | Reply
No. You can request an assessor’s reappraisal but that doesn’t guarantee "lower taxes" just because repairs are needed. In most states, properties are reassessed upon sale anyway.
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