General Real Estate Investing

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Kel S
  • Real Estate Investor
  • Toledo, OH
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Tax reduction on home by simply writing a letter

Kel S
  • Real Estate Investor
  • Toledo, OH
Posted Jun 19 2009, 13:45

We recently wrote a letter to the Tax Auditors office to request a re-assessment of the tax value on one of our properties. This would be the taxable value of the home. For an hour of our time in writing the letter, we recently heard back and they reduced it by $30,000. Previously it had a tax value of $83,500 and they reduced it to $53,500. This is great for us. But not sure how that may effect the home value going forward. I heard that the tax value and home value are separate? We paid $31k for the home, so the tax value is still higher than we paid. Anyway, I was glad to see that we got it reduced. It helps the property to cash flow better too :mrgreen:

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