May 21 • 04:10 AM

Taxes going up while values going down?

January 09, 2008

I just received my tax bill for this year and my taxes went up from last year. Haven't home values declined in the last year? Why would my taxes go up even though my value has gone down?

— T.K., Attica.

T.K., Property values have declined significantly in the past year or so and many homeowners are upset about rising taxes. This is why I have started a new service to help those people get their property taxes lowered. The SEV on your tax bill is supposed to be 50% of its fair market value. Current values in our area have declined fairly steadily about 10% per year the last couple of years and yet many SEV's have risen or barely fallen at all. If your taxes have been rising I may be able to help you. If you believe that your SEV is too high based on the current market values and would like to get your property taxes lowered please call me. I'll give you a free initial consultation and review your property taxes. In that free initial consultation I'll give you my belief of your chances of getting a lower tax bill. After that free consultation if you would like me to help you get your taxes lowered then for a $150 fee I'll go to work for you. You can save several times more than my fee in the first year alone. The best benefit is that every year you own that property you'll continue to save that same amount year after year without doing or paying anything more. Imagine paying $150 to save $300 or more per year on your taxes every year. The first year you saved $150 but by year 5 you will have saved $1350. Is a 10% or more reduction in your tax bill worth $150? I will provide you with all the data and knowledge you'll need to successfully argue your case in front of the tax appeal board for the city or township in which you live. Property owners should be getting their new assessments in the mail in the next month or so. Unfortunately the tax appeal Board of Review is usually within a week or two following that. If you miss that March Board of Review your taxes cannot be appealed for that year. If you think your taxes will be too high you need to call me now. This gives me the maximum amount of time to prepare your documents so when you receive your assessment you will be ready. If you wait until after you receive your assessment I may not have enough time to prepare your defense. Many people go to the tax appeal board without knowing what the board looks for in determining your value. For example, just showing them what you bought it for does not work. The price you paid for your home is irrelevant. Call me now and you will have the data and knowledge you'll need to save money year after year.

Alex Lengemann is a licensed Real Estate Broker who operates, a local real estate company. You can Ask Alex your real estate or mortgage questions by phone 810-664-1819 or by email


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