Owning a home is an accomplishment. However, between paying the mortgage, utilities, repair bills, and property taxes, it can also be financially draining. However, if your home is overvalued, there are several ways—including utilizing residential appraisal services—to lower your tax burden, as the guide below explains.

How to Reduce Your Property Tax Bill

1. Compare Your Home to Other Properties

Start by looking at similar homes in your neighborhood. Property tax bills are public information. If your house shares the same number of bedrooms and communal spaces and has similar amenities—but comes with higher taxes, your home might not be valued correctly.

Present the case to an assessor, requesting a re-evaluation and asking for your tax bill to be lowered appropriately.

2. Schedule Residential Appraisal Services

You can also schedule an independent residential appraisal service to determine the true market value of your home. A professional will visit the property in-person to examine your home, as well as to compare it with recent sales of similar properties in your market area. You can then submit the new valuation in a tax assessment appeal to achieve lower property taxes.

3. Check Tax Breaks You Qualify For

If the residential appraisal service finds that your home is valued properly and that taxes are fair, you can explore tax breaks. Many states offer exemptions or tax caps to veterans and surviving spouses, seniors, and those with disabilities. You may also qualify for homestead tax breaks if the property is your primary residence and you meet age and income requirements.

Interested in residential appraisal services? Turn to the team at Concept Appraisal Services. Serving the Littleton, CO, area, this company is backed by more than 15 years of experience and has completed over 30,000 appraisals. Owner and operator, Connie Jo Esbenson, can assist with estate settlements and planning, bankruptcy appraisals, and more—all of which you can explore online. Call (303) 506-6254 to schedule residential appraisal services and connect on Facebook for news and updates.