FOR IMMEDIATE RELEASE
Middle and Lower Income Families Fall Prey to Over-Paying Property Taxes
With tax season underway, taxpayers— especially those that fall within the middle to lower income brackets— need beware: As property values have declined over the years, many homeowners unknowingly continue to pay more than necessary in property taxes, which are calculated based on home values.
Clifton, NJ, January 2012— When measuring a home’s affordability, property taxes stand among mortgage payments and living costs as a significant determining factor— which is why homeowners should pay attention: As property values have dropped, the cost of property taxes may have declined, as well, because the taxes homeowners pay are based on the current value of their home. Most often, it’s those in the middle to lower income tax brackets— who may not have access to tax advisors and the financial information—
“Between 30% to 60% of U.S. properties are over-valued,”
So what can homeowners do to rectify the damage done to their pockets every quarter? “Appeal your taxes,” says Jeff. “If your property value has declined since your purchase, you can take steps to prove so to your municipality and get your taxes lowered.”
Unfortunately, despite the possibility of a huge savings, less than 5% of taxpayers move forward with disputing their assessments. Recognizing that homeowners may be intimidated by the tax appeal process and then discouraged by cost of hiring an attorney to proceed with an appeal, Jeff created NJ Tax Appeal. “We provide people with the education they need to appeal their taxes on their own. For those who need a little more guidance, we offer cost-effective services that help them get the highest reduction possible in taxes. Every little bit of money you can save helps.”
Jeff discusses tax appeals in further detail at http://blip.tv/