Luxury Valley Homes Monthly Real Estate Newsletter

Page: 1 2  3 4 February 2010 - Page 4 PROPERTY TAXES Appeal Your Property Tax Bill The Smart Way Some of our homeowners have experienced a drop in their home's value over the past few years. If that's your situation, your property tax bill may not reflect that lower value. However, there are some smart steps you can take to save a few dollars on your tax bill this year and every year thereafter. How often does your local tax assessment office reevaluate property values? In some locations, reevaluations occur every year, while in others they may not occur but every three, five or even 10 years. The less often the taxing authority reevaluates, the more likely your tax assessment doesn't reflect true market values. If your current assessment is higher than it should be, exercise your right to appeal. Get a copy of your tax bill. If you don't receive one by mail because you pay through mortgage escrow, call your municipality to request a copy. Appeal within the timeframe indicated on your tax bill. You can appeal in any year, but check whether you must file within a specific number of days upon receiving your tax bill. Ask your assessor's office whether making an appeal is dependent upon your assessment being off by a specific percentage. Check the accuracy of your official property record, which may be available online or at the assessor's office. If the record on file lists your home having two bathrooms and it only has one, your tax bill can be lowered immediately. Gather information on comparable home sales within a mile of your address that sold within two months of your assessment date for less than your home's assessed value. (Do not include foreclosure sales.) Collect five solid comparisons. Try the informal route first. Talk to your assessor before filing an appeal. If the meeting goes nowhere, then file a formal appeal. Generally, municipalities require in-person hearings at the county level. (Some will allow online appeals; check with your assessor's office.) If your taxes are due before the hearing is scheduled, be sure to pay them; refunds will be issued if you win. If possible, sit in on a hearing ahead of yours to learn what to expect. When it's your turn, submit copies of your tax bill, your info on five recent home sales in your area and any other supporting evidence. If you lose your appeal, consider the amount you're contesting. If it's a few thousand dollars or more, you may want to make an appeal at a higher level, (e.g., to your state). State regulations vary with some appeals needing to be filed through a state review board and some filed in a state tax court. Going to a higher level for appeal will likely require a property tax attorney or property tax consultant. RECYCLING BIG Going Green Means Correct Disposal of Old Appliances Whether your appliance is no longer working or you simply want a new appliance with more energy-efficiency, be sure to dispose of your old appliance properly to be friendly to the earth. Check with your local utility companies to see if they offer to pick up and recycle old refrigerators and freezers. Many give rebates from $25 to $50 when they pick up old, but working, appliances. Retailers will often take away the old appliance (washer, dryer, dishwasher, microwave, stove, etc.) when delivering the new one. Ask ahead as some retailers charge for the service and some offer haul-away for free. Check with your local municipality about appliance pick-ups as well. Some areas allow them to be disposed at the curb, while others have certain days or times of the year when they can be picked up curbside. Properly recycle appliances that contain steel such as washers, dryers, hot water heaters, air conditioning units, etc. To find recycling options in your area, call (800) YES-1-CAN or visit www.recycle-steel.org. One appliance recycler in Seattle, Jaco Environmental, recycles 95% of each refrigerator collected: toxic fluorocarbons are destroyed at a waste-to-energy incinerator; steel is used to reinforce roadways; plastic goes into everything from laptops to cell phones. Remember, moving an old refrigerator into the garage or basement to store cold drinks negates any energy savings you may realize when purchasing a newer energy-efficient refrigerator for your kitchen. Professional Services During this new year, we appreciate the friends and family you send our way when they are ready to buy or sell a home. We give your referrals the same professional services that you have come to expect from us. Thank you for placing trust in our services to recommend us! P.S. When you're done with this newsletter, thank you for passing it along to a contact too! Page: 1 2  3 4

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