The Running Realtor: December 2007

A blend of ramblings about Real Estate & Running around New Haven County and the Connecticut Shoreline

Connecticut Property Tax Appeals

During the final week of the year many people will pay their property taxes due in January so they can take a tax deduction off this years income.  While you focus on the April 15th filing deadline for your income taxes you might want to consider a faster approaching deadline on February 20th to appeal property taxes.

Have you felt the pinch of skyrocketing property taxes?  According to this recent article property taxes have soared 50% nationwide from 2000-2006.  During that same time frame inflation has increased 17% while household income has dropped 2%.  

Being in the real estate business we see the unfortunate reality where older homeowners reach the point of having to sell their home because they can no longer afford the taxes. 

Some towns are offering an opportunity for Seniors work off their taxes. The problem with that solution is that it only works for a select group of able bodied Senior Citizens.  In one of the more expensive sections of the country (Westchester County -NY) one town is offering $7 an hour. The woman in the example is 76 years old with a monthly Social Security check of $620.  She has been in her home for 43 years and taxes are now 12k annually.   Can she really be expected to put in 42 hours a week all year long just to gross enough to pay the tax bill?

A better solution is for "We The People" to stand up and say ENOUGH is ENOUGH.  Government spending on every level is out of control.  You can start small with you own home. Look at your assessment and compare it to similar homes.  If you are being over charged appeal the tax assessment.

In Connecticut the deadline to file a petition to appeal your taxes is February 20 annually. You can find more information at the town hall or select the link if you are in Madison, CT  06443 or Guilford, CT 06437 

If you are interested in Buying or Selling a home in New Haven County let me know and I will happily explain the real estate market so you can decide if current conditions make it the right time for you to make a move.

Subscribe to Dan - The Running Man's Blog by Email

 

 

Comment balloon 4 commentsNo Longer Active • December 26 2007 08:02PM
Connecticut Property Tax Appeals
share
During the final week of the year many people will pay their property taxes due in January so they can take a tax deduction off this years income. While you focus on the April 15th filing deadline for your income taxes you might want to consider a… more
Merry Tee'd Off Tueday!
share
So This Is Christmas! This Christmas is Number 31 for me and my wife… After all these years of shopping I think I do fine but I need to get a little tee'd off at the quality control standards of clothing manufacturers. When I was first married… more
The Gloom and Doom of Foreclosures
share
Welcome to Tee'd Off Tuesday! This may actually be the last one of the year unless Santa leaves me a lump of coal next week on Christmas morning! I'm a man of routine and part of my morning ritual includes reading the newspaper with a few cups of… more
Tis The Season… I'm Gonna Shop…
share
I'm Trying… I'm Trying… This year I just can't seem to kick myself into the mall. Ten days til Christmas so this morning I slipped into my Holiday Undies and grabbed my stack of Christmas Cash with a mission… Shop Til I Drop! Well… I… more
Oh Danny Boy You Think Too Much
share
I'm sitting here this afternoon finally addressing all my " Holiday Cards " as the snow accumulates outside my window and as usual my mind begins to wander. The first thing I realized as I glace from my Excel list to the envelope is the… more
Christmas Shopping Crunch Time
share
The final two weeks have arrived… It is Crunch Time for Christmas Shopping! This year I am way behind schedule, could be the warm weather this fall or just the usual dread of aimlessly wandering around looking to spend money of "stuff"… more
Christopher Martins Christmas Run for the Children
share
Today is race day! The Christopher Martins 5k was my first running event when I started my latest fitness routine back in 2005. After spending several weeks walking in preparation for a 2k Thanksgiving Day Event I enthusiastically took on… more