Thursday, July 23, 2020

4 Things That Might Make Your Property Taxes Go Up


Property taxes are often a huge burden on homeowners, and everyone can agree that no one wants to get an unexpected increase. It’s important to take into account that there are quite a few factors that could lead to that increase in your property taxes-- all of which might take you by surprise. Here’s what every homeowner should know:


1. Additions to Your Home

It’s rare that homes stay the same from when you first moved in. In order to make it more personal, you might plan construction or even additions to the home. However, depending on the job, it may cause your property taxes to rise. Especially if these changes alter the square footage of your home.


2. Moving to a New Area

Depending on the town, city, or state, your rates will change when you move to someplace new. Even if you move to an area that seems of comparable value to where you used to live, rates will still be different. You should discuss municipalities and rates with your realtor before making any decisions.


3. Increased Home Sales in Your Area

More sales around you means more of an increase in taxes for that area. Towns and cities change every day, so keep track of your local community’s information. That also includes construction and demolitions, as well as amenities such as parks and lakes.


4. Local or State Changes

Your local and state budgets affect you and your neighborhood everyday. Some changes, such as edits to public services, can cause your property taxes to increase suddenly. Both funding services and cutting services will affect your taxes, too.


Here at P.T.R.C., Inc., we are determined to help our clients pay the lowest amount of property tax as required by law. Contact us today to see how we can help you: info@ptrc.com

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