Feel like you're paying too much in property taxes? Chances are, you're right! We're about to show you how to slash your property taxes in three easy steps. This is not Mission Impossible...more than 60% of people who try to lower their property taxes succeed!

Step One: Visit your local tax assessor's office (usually located in your town hall or the municipal building). In this one visit, you can gather everything you'll need to make sure your property taxes are fair—and to get them reduced if they're not. Ask the tax assessor for:

• A list of all the tax exemptions to which you may be entitled. This can include exemptions for anyone over 65, veterans (or their spouse and children under 18), homeowners with disabilities, widows of public servants, and homes with solar or wind power. Ask for applications and filing deadlines.
• A copy of your "property record card." This card contains all the information the assessor used to determine your home's assessed value.
• The assessed value of the comparable homes the assessor used when figuring your tax bill. In addition, ask for the assessed value on three or four comparable homes in your neighborhood that have recently sold. This is all public information, so you should have no problem getting it.



Straight Talk Tip: If you don't know the addresses of homes that have recently sold in your area, ask a local Realtor for a listing.

• An explanation of how to calculate your tax bill from the assessed value.

Step Two: Once you're back home, carefully check your "property record card" for mistakes. Look for common mistakes, such as: math mistakes, wrong information about your home or land (the wrong square footage or acreage, wrong number/size of rooms, a porch or garage counted as living space), and general assessment errors (your property is assessed the same as more valuable properties, for example).

Consider any changes to your property since the assessment that would decrease your home's value. For example, if your basement floods or your roof is in bad condition, your home should be depreciated. Also consider changes to your neighborhood (the crime rate is rising, a lot of homes are on the market but aren't selling, etc.).

Straight Talk Tip: For an in-depth listing of possible mistakes to look for and things that would lower the value of your home, we highly recommend Challenge Your Property Taxes: Homeowner's Guide to Reducing Property Taxes by James E.A. Lumley. The book also walks you step by step through sample cases, showing you all the documents and evidence.

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