WAYS TO CUT YOUR PROPERTY TAX

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Local government professionals, based on the valuation of your home, determine your property tax. Your home is valued in two ways - valuation of the improvement or building value, and the land or site value. The real property value the government assigns your home, determines the property tax you should pay. But if improvements increase your Palm Beach property value and thereby also your tax – how can you, as a homeowner, both renovate your home and cut your property tax back at the same time?

Knowing the current government valuation of your home is crucial for assessing your property tax (and before starting any improvements). Ask your realtor to help you find your home valuation online, or simply make a call to your local Palm Beach assessor’s office. If your home has a higher valuation than it should, due to features listed that are not complete or true, you can appeal and cut your property tax back right from the start. When you then decide on improvements, research and learn which kinds are supported by government. For example, environmentally friendly improvements often give rebates and help you cut your property tax.

If you are hesitant about your property tax, or just want more information regarding specific communities such as Palm Beach, Delray Beach, or Ft. Lauderdale, ask your realtor. He or she will be able to advise you and also refer you to qualified local tax attorneys who can help you cut your property tax.

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