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Council Tax Benefit Savings Article
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How to Reduce Property Taxes
from:One of the major costs of owning your home is paying property taxes. Property taxes differ by state and by county, but in some regions of the country, they are quite high. Property taxes are important because they help fund important community interests, like public schools and your local government. In addition, your property taxes may fund federal programs. However, this doesn’t mean you should pay more than have to. It’s important to take a look at the following ways to reduce property taxes.
Get a correct value on your home – Each year, the tax assessor will assess the value of your home. He’ll look at improvements you’ve made, as well as the value of other homes in your area. The value that the tax assessor places on an individual home is quite subjective, and each tax assessor employed by the city or county would likely come up with a different figure for your home. Since your property taxes are directly based on the tax assessor’s assessment of your home’s value, it’s important that you home is not over-valued. If you feel that the assessor has over-valued your property, you can contest the value and possibly get it lowered, which will reduce property taxes.
Check out available exemptions – You may qualify for tax exemptions that would reduce property taxes you’re paying. For example, most areas offer a “homestead exemption” which reduces the tax you pay on your primary residence. In most cases, all you have to do to qualify for a homestead exemption is to file a form with the city or county where you live. Having a homestead exemption filed on your primary residence will reduce property taxes because it lowers the percentage of your home’s value that is taxed.
Stay involved locally –As a citizen, you and other citizens control the property tax rate. By getting involved in your community, you’ll know when property tax rate hikes are being considered and you can voice your opinion as to whether or not these rate hikes are responsible. Often, homeowners don’t even know that a rate hike was being discussed until they get their property tax bill at the end of the year.
If you want to reduce property taxes, it’s important to stay informed and involved. While property taxes are an important part of funding your local community, they can also be a burden on your personal finances. It’s important to understand how your property taxes are calculated and what they’re funding so that you can both be a good citizen and keep your home ownership expenses manageable.
Council Tax Benefit Savings News
Experts hit back at Stunell's council tax benefit comments - Local Government Chronicle
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Council tax benefit funding set out - Local Government Chronicle
Council tax benefit funding set out Local Government Chronicle Ministers are to protect the councils hardest hit by next year's cut in council tax benefit funding - but allocations will not take into account the government's decision to exclude pensioners from the cuts. A consultation on the distribution of ... |
Minneapolis City Council OKs Vikings stadium plan - Waterloo Cedar Falls Courier
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Council tax benefit cut delay is welcomed - The Southern Reporter
Council tax benefit cut delay is welcomed The Southern Reporter THE average Band D householder in the Borders has saved £460 in the five years since council tax was frozen. The revelation by Scottish finance secretary John Swinney came before his government at Holyrood confirmed that, in conjunction with the ... |
Stunell says 10% benefit cut 'easily covered' - Local Government Chronicle
Stunell says 10% benefit cut 'easily covered' Local Government Chronicle Councils facing a budget gap as a result of the 10% cut in council tax benefit funding can plug the hole by increasing charges on second and empty homes, ministers have claimed. Local government minister Andrew Stunell (Lib Dem) accused opponents of ... |