It's that time of year again and we as agents are constantly getting asked these questions so I thought I would share them with you.
Here are five property tax questions you need to ask.
1. What is the assessed value
of the property?
Note that assessed value
is generally less than market value. Ask to see a recent copy of the seller’s
tax bill to help you determine this information. Please note that tax appraisal value is NOT the same as a bank appraisal value which is generally higher or market value. Please consult with your agent to best determine your home's current market value. 2. How often are properties reassessed,
and when was the last reassessment done?In general, taxes jump most significantly when a property is
reassessed. This not necessarily done every year.
3. Will the sale of the property trigger
a tax increase?The assessed value of the property may increase based on the
amount you pay for the property. And in some areas, such as California, taxes
may be frozen until resale.
4. Is the amount of taxes paid
comparable to other properties in the area?If not, it might be possible to appeal the tax assessment and
lower the rate.
5. Does the current tax bill reflect any
special exemptions that I might not qualify for?
For example, many tax districts offer reductions to those 65 or
I hope this information has been helpful and that you will
give me the chance to represent you and save you money in your next real estate
transaction. If you have any questions, my contact information is below. Thanks
for your time and I look forward to assisting you with your real estate needs.
Sherry M. Cabrera, Realtor®
JP & Associates Realtors 5700 Tennyson Parkway, Suite 170 Plano, TX 75024
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"have bought and sold a lot of homes in the past twenty years and have worked with many realtors. Kellye Demski has by far been the best agent I have ever worked with! Kellye has helped me both as a buyer and as a seller and she was exceptional at both. As a buyer, she took the time to find out what I really wanted, asked the right questions and did her research. In less than a month, she had me in the house of my dreams at far below market value. She took care of everything and it was one of the easiest transaction I’ve ever experienced. When it came time to sell, Kellye was the one I called. I was confident in her abilities to price my house and get the traffic it needed to sell, but I was blown away by how much time she took to help stage the house and how amazing the photos turned out. We had multiple offers, but Kellye did not pressure me to accept an offer until I found the right buyer. Again, she took care of everything and the transaction was so easy I could hardly believe it.
Kellye is knowledgeable, professional and honest. She’s extremely proactive and responsive without being pushy. She knows the right people and how to get things done, but most importantly, she truly cares about her clients and takes the time to get to know them and their needs. I highly recommend Kellye as an agent and will definitely work with her again in the future. "