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Laundry machines use a lot of energy.

To save on power costs, consider the following when doing laundry:

Use cold water to cut a loads energy use by more than half. Cold-water detergents can help ensure clothes get clean.
Your washer will use about the same amount of energy no matter the load size, so fill it up.
Use lower heat settings to save energy, even though the drying cycle is longer.
Clean the lint filter often so the dryer runs more efficiently and safely.
When possible, hang laundry outside or on a drying rack to avoid using the dryer altogether.

Laundry can be a big chore, so let lower energy bills help ease the burden.

Published with permission from RISMedia.

The amount due on a property tax bill is obviously the main thing that catches a homeowner’s eye”but there are other parts of the bill that should be checked for errors and confirmed as updated.

Here are some ways to review your property tax bill and how to appeal it:

Check the Numbers
Look at the rate of taxation and assessed value of your home. Are they correct?

Assessments are generally tied to fair market value. A home’s attributes, such as square footage, number of rooms and type of property, are put into an automated valuation formula. Ask your assessor’s office for a detailed checklist and make sure it’s correct.

The value of a home assessment is usually done in two ways: based on recent sales, and based on replacement value as determined by an insurance company.

When to Ask for a Reassessment
If your home assessment is based on similar properties, then check on sales of homes in your area. If the assessor puts the value higher than at least three to five comparable homes, then you may want to appeal.

Property tax assessments are updated only every few years in some places. If property values have dropped significantly in your area since the last assessment and your property taxes haven’t changed, you can request a reassessment.

How to Appeal
Filing deadlines and procedures for an appeal should be included in your property tax bill. If not, look on the assessor’s website.

Submit your documentation, such as a list of comparable properties, in a letter or online for the review board to look at.

If you need help, hire a tax or real estate expert who specializes in tax assessment. If you win the appeal, the lower tax assessment should apply for a few years and make the fee worthwhile.

When filing an appeal, you’re still required to pay your property taxes on time and in full during the process. If you win, you’ll get a refund. There’s also the possibility that if it’s found that comparable home prices are higher, you could see an increase in your property taxes.

If you lose your appeal, you can appeal it to a state board or court, though those may require paying extra fees. At the very least, you can appeal your property tax bill next year when it arrives in the mail.

I hope you found this helpful. Contact me for more home and real estate insights and info.

Published with permission from RISMedia.

Here are a few exciting amenities that kids will love!

Waterslides

Waterslides and lazy rivers take the backyard swimming pool to the next level.

Bowling Alleys

The perfect rainy-day activity, a bowling lane at home has a wow factor that everyone can enjoy.

Treehouses

Help your kids immerse themselves in nature with a craftsman level fort.

Game Rooms

Spaces with foosball, air hockey, Skee-ball, and more, provide the perfect hangout spot.

In-Ground Trampolines

An amenity that will light up the little ones eyes, in-ground trampolines are a growing trend.

Published with permission from RISMedia.

Published with permission from RISMedia.

Local governments and school districts raise a large portion of the money that goes toward paying for education, emergency services, transportation and other public goods through property taxes. The amount that individual homeowners pay is determined by the assessed property value and the mill rate. Each of these is calculated through a complex process.

How Property Values Are Assessed
An assessor will determine the value of your home, which can change over time due to depreciation, improvements you make, the local economy and housing market. Assessors may use any of three methods to calculate the value of a home. In some cases, they use a combination of two or more methods.

One way to determine the value of your home is by looking at the sales of comparable properties in the area. Those figures are used as a baseline and can be adjusted to account for the location of your property, the amount of land it sits on and any upgrades you have made.

Another way to assess the value of your house is to figure out how much it would cost to replace it if it were destroyed, a calculation that will include local material and construction costs.

A third method of assessing your propertys value is to calculate how much income you could generate by renting it. The assessor will consider market value and will deduct costs to manage and maintain the property, as well as insurance premiums and taxes.

You should receive a statement showing the assessed value of your property. If you disagree, you can submit relevant information and ask the assessor to review the calculation taking the additional facts into account. If you accept the assessment, you will receive a separate property tax bill.

How Tax Bills Are Calculated
A mill levy is a tax rate used to determine how much property owners must pay. One mill is equal to one-tenth of one cent. County and local governments and school districts set their own mill levies based on the amount of money they need to raise and total property values in the area under their jurisdiction. Property owners then pay a mill rate that can include a total of county, state or town and school district mill levies.

The mill rate will be multiplied by the assessed value of your property to determine your property tax liability. You may receive a tax bill once a year or once every several years, depending on the governments policy. If you have any questions about how much you will owe and when, you can visit the assessors office or look up the information on its website.

The Benefits of Understanding How Property Taxes Work
Property taxes can vary widely based on where you live, the value of your home, and how much money the local government and school district need to raise. Knowing how your homes value is assessed and how property taxes are calculated can help you avoid being shocked by the size or timing of the bill.

Published with permission from RISMedia.