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Benefits to Understanding Assessment
Written by Valerie Faltas   
Friday, 26 June 2009 15:00
Property Taxes are the highest expense after debt service (mortgage) for homeowners and knowing property taxes and assessments can only benefit you as a homeowner. The average homeowners who acquired a home in the past six years pays about $7,000 per year in property taxes which equals to almost $600 monthly. After ten years the amount of property taxes paid cumulatively will be more than $70,000! If that taxpayer can lower their assessment where they save $2,000 per year over the next ten years, you will save $20,000! Being a knowledgeable taxpayers about the three aspects of property taxes, appraisal, assessment and government process, enables you to save thousands in the long run.
by ValerieFaltas


Property Taxes are the highest expense after debt service (mortgage) for homeowners and knowing property taxes and assessments can only benefit you as a taxpayer. The average taxpayers who acquired a home in the past six years pays about $7,000 per year in property taxes which equals to almost $600 per month. After ten years the quantity of property taxes paid cumulatively will be more than $70,000! If that homeowner can lower their assessment where they save $2,000 per year over the next ten years, you will save $20,000! Being a knowledgeable taxpayers about the three aspects of property taxes, appraisal, assessment and government process, enables you to save thousands in the long run.

Understanding how to calculate your market value as a taxpayer will empower you across the board not only in property tax and assessment but in all facets of dealing with your house. These various aspects include refinancing, selling and buying, when you know and understand the fundamentals of all real estate transactions you will be empowered to ensure you are in the best possible position no matter what you are doing pertaining to your house. The Little Black Book gives you the tools to understand how to establish your market value which is a tool you can use over and over again no matter what youre handling with your house. Also, the Little Black Book gives you the insight into assessment practice so that you can ensure you are paying what is fair for your residence.

Understanding property taxes is incredibly enlightening and empowering, suddenly you wont feel afraid to deal with the Office of the Assessor or Tax Collector because you will understand their internal processes and as a result will know how to assist them, assist you. Property Taxes are pretty simple once you take the fear out of the process and replace it with knowledge. Lowering your property taxes is just the first step towards being a well educated taxpayer and a taxpayer who wont be afraid of any government agency or lending institution (bank). Gaining the knowledge and insight of an insider, of a former assessor will empower you in all aspects of your home ownership and you will be given tools you will be able to use for every home you ever own.

Taking advantage of the tools available to you and making yourself knowledgeable puts you in the drivers seat. You will know how to take charge and ensure that the market value of your home is being appraised properly and ensure that you are being treated fairly and dealing with competent people whether you are refinancing your home or lowering your property taxes.

About the Author: Valerie Faltas, Property Tax Expert has been involved in all facets of real estate for over ten years including assessments, appraisals, estates and trusts, investing and much more. She is a Certified Property Tax Appraiser, Licensed Residential Appraiser and a member of the International Association of Assessment Officers. As a real estate investor and adviser she is well versed in all aspects of real estate. To contact Valerie Faltas go to her website: www.propertytaxlittleblackbook.com.

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