Are you paying to much Real Estate Taxes? As a function of government your property taxes depending on where you live, should go down based on property values today.

With Real Estate values declining and the Counties needing more money are you getting a fair shake on your home value? I just received from my County a new suggested assessed value for my home. They are suggesting that my home is not valued as high for 2011 and 2010. I was very happy about that but one of my Clients called me that we have his vacant lots listed and his property increased in value (hard to believe).

Asheville Real Estate has declined as many other areas, Waynesville and Maggie Valley Homes that seem to be more second homes have really been affected by dropping home values. So if you own a home in these areas making sure your property taxes reflect a true value it may be well worth the time to see.

Now here is something we all need to watch is the Mileage Rate. For example if they drop the value of your home or land and increase the Mileage Rate to even out the same amount of taxes to be paid this may really cost you in the long run.  Think of it this way, if in the years to come your property starts increasing in value and the Mileage Rate stayed at the higher level you will be paying more.

So what to do? Get involved make sure they do not try to pull a fast one on you. Is your property worth the same as it was years ago? Most likely not and you can apply to have them revalue your property.

Many are driving less, cutting more coupons and cutting cost in many areas but the big savings could be your property tax.