Wednesday, January 17, 2007
Property Tax Appraisal
We just received this year's property tax appraisal. The assessed value of our home has gone up and the property taxes increased by about $100 for the year. Oklahoma has a state income tax and this results in lower property taxes than most states. We only pay $1,800/year as opposed to the $6,000+ I was paying in Austin. Of course, Texas does not have a state income tax so they make up the difference with higher property taxes. Anyway, I came across a good write up in this month's Kiplinger's Magazine. Apparantly, there is a good online resource that explains how to appeal the tax increase. According to this organization, about 33% of all property-tax appeals succeed.
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