36 min
The Impact Of Property Taxes The Good Stewards Real Estate Podcast
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- Business
Property Tax Discussion:3:07: Property tax is one of the taxes we can help try and control on our own.4:58: Property tax bills are a matter of public record, for most states. Review the records, determine how they’re calculated and evaluate to see if it seems reasonable or if you should challenge it.8:15: In Indiana there are homestead tax breaks. So you would pay 1% of the assessed value, but if you're an investor, you pay 2%. Alot of investors don’t often factor in situations like that--know your laws.10:55: The easiest time to appeal your property taxes is when you purchase it.Surprise Tax Hikes:12:11: In Kansas City the county screwed up one year and our property taxes saw an average increase of 70%. So we got very familiar with the county office and challenged just about every property we had.15:12: In all, property taxes only went up by 20% in Kansas City. This worked out because Stewardship Properties has a system in place ready to monitor it.20:14: Call up your local county or government office and ask questions. You’re going to get some great information.22:23: Make sure you're getting all the exemptions you qualify for.Facing and Understanding The County:25:00: Sometimes you won’t be successful in lowering your property taxes.27:10: Texas doesn’t have any sales tax, but they’re pretty greedy with their property tax. Seemingly every year, the county tries to double property taxes.28:33: If you’re wanting to invest out of state, talk to people who have owned for 5-10 years to get an idea of the property tax environment.Disputing:29:55: The best thing to have when you go to dispute property taxes is your purchase documents. .32:27: After all the appeals Andrew has done, he’s never seen the committee go above the original property taxes.33:45: It’s great to get used to dealing with local government so you learn the ins and outs of how they can best serve you.Connect with the Good Stewards:Visit Our Website and SubscribeEmail | Ask@TheGoodStewards.comTwitter | @TheGoodStewardsInstagram | @GoodStewardsPodcastFacebook | @GoodStewardsPodcast
Property Tax Discussion:3:07: Property tax is one of the taxes we can help try and control on our own.4:58: Property tax bills are a matter of public record, for most states. Review the records, determine how they’re calculated and evaluate to see if it seems reasonable or if you should challenge it.8:15: In Indiana there are homestead tax breaks. So you would pay 1% of the assessed value, but if you're an investor, you pay 2%. Alot of investors don’t often factor in situations like that--know your laws.10:55: The easiest time to appeal your property taxes is when you purchase it.Surprise Tax Hikes:12:11: In Kansas City the county screwed up one year and our property taxes saw an average increase of 70%. So we got very familiar with the county office and challenged just about every property we had.15:12: In all, property taxes only went up by 20% in Kansas City. This worked out because Stewardship Properties has a system in place ready to monitor it.20:14: Call up your local county or government office and ask questions. You’re going to get some great information.22:23: Make sure you're getting all the exemptions you qualify for.Facing and Understanding The County:25:00: Sometimes you won’t be successful in lowering your property taxes.27:10: Texas doesn’t have any sales tax, but they’re pretty greedy with their property tax. Seemingly every year, the county tries to double property taxes.28:33: If you’re wanting to invest out of state, talk to people who have owned for 5-10 years to get an idea of the property tax environment.Disputing:29:55: The best thing to have when you go to dispute property taxes is your purchase documents. .32:27: After all the appeals Andrew has done, he’s never seen the committee go above the original property taxes.33:45: It’s great to get used to dealing with local government so you learn the ins and outs of how they can best serve you.Connect with the Good Stewards:Visit Our Website and SubscribeEmail | Ask@TheGoodStewards.comTwitter | @TheGoodStewardsInstagram | @GoodStewardsPodcastFacebook | @GoodStewardsPodcast
36 min