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Tips For Lowering Your Property Tax From A Denver Tax Specialist

November 23, 2016

No residential or commercial property owner looks forward to paying property taxes, especially because it sometimes feels like the amount you have to pay is completely out of your control. But, is it possible for you to lower your property taxes? Possibly, if you follow these tips provided by a Denver tax specialist:

Do your research

Do you even know why you’re paying what you pay every year in property tax? Probably not, so take the time to do a little research to get a better understanding. Visit your local town hall and ask for a copy of the property tax cards, which contain information that has been gathered on each property in the city. It is essential that you carefully review the information on your property’s card to ensure it is accurate. If the square footage of your home is really far off, or if the card lists special features that your home does not have, this could explain why you are paying so much in property taxes. Note any discrepancies you find and then contact the tax assessor right away to have your taxes adjusted.

Look at your neighbors

While you’re looking at property tax cards, you should also research your neighbor’s homes to determine how much they are paying in taxes. Try to find a comparable home, so choose one with approximately the same square footage and special features. If the two numbers are not close to each other, something may be wrong with one or both of the property assessments, so bring this issue to the tax assessor.

Don’t make any changes

Have you been thinking of installing a pool in your backyard for your kids? Or do you want to finally add more square footage by building a garage or other structure? If you want to keep your property taxes where they were last year, don’t make these changes. But, if you can’t hold off any longer, try to contact your city’s tax department to get an estimate of how much these changes will affect your property taxes. Once you have all of the information, you can make an educated decision on whether or not this is worth it.

Do a walk-through with the assessor

Instead of completely ignoring the assessor and letting him wander around your property aimlessly, do the walk-through with him. If you go with him, you can help him spot both the positives and the negatives about your home so the tax assessment is more accurate. Tax assessors tend to only notice the special features such as the pool, upgraded kitchen, and marble around the fireplace. They may fail to see the leaky plumbing or missing shingles on the roof that will lower the value of your home, and therefore lower your property taxes as well. Answer the question, “what does a county assessor do?” here.
Bloch, Rothman & Associates, Ltd. is a full service accounting firm offering personal and affordable Denver tax and accounting services for individuals and businesses. Contact Block, Rothman & Associates in Denver for a free initial consultation.