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Real estate tax dispute update

October 21st, 2015 at 04:05 pm

HI all

got some preliminary tax dispute results. I disputed taxes across all my rentals. 6 homes and 2 3-units. i currently pay approx $18,500 a year in taxes. I have no experience in this but was hoping for a $3600 decrease. Got an email from the attorney (she only gave me the NEW assessed value) but appears based on the new assessed value I got a savings of approx $1250 across all (she sent a letter with full details and the translation from assessed value to amount saved). Anyway she gets 1/3 of the first year savings so if my calculations are right (had to get current assessed value and tax rate of the city website) then I owe her approx $400.

My personal residence is up next month (court) so hoping for a big decrease on that.I currently pay almost $10k

I think it was worth it. but looking forward to actual numnbers she calculated in case mine were incorrect.

This tax decrease on the rentals raises my profits approximately $100 a month for this year and on.

Rachael

1 Responses to “Real estate tax dispute update”

  1. VS_ozgirl Says:

    Good thinking in questioning the current amount you pay, definitely a win!

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