You can save on your Property Tax? Just ask!

Yesterday, a real estate agent-friend we work with asked us to take a look at her client’s potential for a tax appeal. Keep in mind that these were past clients of hers. They were paying over $22,000 a year in property tax.

The property was in Upper Dublin Township and was a typical 4 bedroom, 2.5 bath Colonial of around 4,600sf of above grade living space. The total assessment on the house was $477,000 which, after applying the current Common Level Ration for Montgomery County, equals an assessed market value of $1.2M.  This means that the house is being taxed as if it was worth $1,200,000.

This seemed a bit high at first glance. So, we did some research on sales in that market and here’s what we found. (This is a free service that we offer to prospective tax appeals)

What this basically means is that this property has a very good case for a tax assessment appeal. While the numbers above are not an appraisal of the property, they are a pretty strong indication that the homeowner might want to pursue an appeal.

Based on the Average Sale Price of $807,664 the homeowner could possibly reduce their assessment by roughly 32%.  That equates to a tax savings of $7,040!  While a disparity like this is not the norm, it is not uncommon either.

In this case, the agent was looking out for her client (a prior client who wasn’t even actively looking to sell or buy). Can you imagine how grateful that homeowner was to find out their agent was still looking out for them, long after they bought a house with her? The agent wins the loyalty and gratitude of a client.

The homeowner wins by saving thousands of dollars, now and into the future.

We win by being able to help another agent and homeowner who will hopefully tell their friends and colleagues.

If you or your clients live in Montgomery, Delaware, Bucks, Chester and Philadelphia Counties and think you may be paying too much in property taxes, give us a call. We are happy to look into your situation.


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