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In most communities, real estate property taxes are based upon an estimate of your home's value. If home prices have dropped since you bought your home, you may be able to appeal your assessment and enjoy a reduction in the property taxes that you're required to pay.
Contact your local Assessor's Office to inquire as to the local procedure for appealing your property taxes. Generally, the process involves providing comparable sales data in writing to the assessor to prove the reduced value of your home. If you need help with this exercise, contact your John L. Scott real estate agent.
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