Lucas and Wood Co Property Tax Reductions Due to Foreclosures

ARE YOU PAYING A HIGHER PROPERTY TAX THAN YOU NEED TO?

If you have bought a home or are considering a purchase, don't forget to have your taxes evaluated for todays market! You may be pleasanlty suprised to find out they should be lowered. Many purchasers are so busy managing their move when they close on a home that they forget to take this next step! It is easy to forget since property tax ussually becomes part of our mortgage payment. With property values decreasing at this time, it is impotant to make sure you aren't overpaying. Many of our clients have had great success getting the tax reduced on their homes.

Buyers should be careful if they are considering a foreclosure or short sale purchase. The price on the home may be affordable but if the tax is really high or way beyond your budget then it is always best to "plan for the worst and expect the best". You may be able to have the tax reduced for now but it could eventualy go back up when values return so make sure it will still be affordable if that should happen.

Once you have purchased a home, you may be able to have the taxes reduced by taking your closing statement and a recent appraisal or CMA (ask a Realtor to prepare) to the county auditors office.

Blade article on tax reductions in Lucas County

http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20090315/NEWS16/903150329