As a homeowner in Westchester, reducing your real estate tax bill can be a significant way to save money. Here are five ways to help you lower your tax bill:
- Challenge Your Property Assessment: Property taxes are based on the value of your home. If you believe that your property assessment is too high, you can challenge it. Contact the Westchester County Department of Taxation and Finance to find out how to file an appeal.
- Take Advantage of Exemptions: Westchester offers a variety of exemptions that can reduce your tax bill. These exemptions include the STAR program, veterans’ exemptions, and senior citizen exemptions. Make sure you are taking advantage of all the exemptions you are eligible for.
- Invest in Home Improvements: Home improvements can increase the value of your home and potentially lower your tax bill. Consider energy-efficient upgrades or adding square footage to your home.
- Understand Your Tax Rate: Each municipality in Westchester has its own tax rate. Knowing your tax rate and how it compares to other municipalities can help you determine if you are paying too much in taxes.
- Work with a Tax Professional: A tax professional can help you navigate the complex world of real estate taxes. They can help you identify opportunities for savings and ensure that you are taking advantage of all the tax breaks available to you.
By following these tips, you can potentially save money on your real estate tax bill in Westchester.
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