Property Tax Appeals and Deductions: Making Sure you Just pay your Fair Share

Paying taxes is one aspect of civic responsibility.  However, being overcharged can turn this responsibility into a taxing burden.  Two main remedies have emerged to help with lowering property taxes.  The first of these is claiming property tax deductions on federal income tax returns.  Since the IRS permits the deduction of local and state property taxes, the net result can be a property tax reduction.  Lower taxable income correlates with a lower income tax payment, and this phenomenon exists due to accounting for a property tax deduction.

A traditional property tax appeal can also be an effective tool in property tax reduction.  These appeals begin at the local level but can travel up to the state level following an unfavorable ruling.  In Michigan, the Michigan Tax Tribunal will hear any outstanding property tax disputes not resolved at the local level.  A property tax assessment appeal must commence at the local level so that the Tribunal is not flooded with minute cases.  

Both of these factors can help taxpayers in lowering property taxes.  Appealing statements from state and local property tax services or reducing income tax payments are both useful in lowering the bottom line for individuals and businesses come tax time. While independent property tax consultants claim to have your best interests at heart, only an expert property tax attorney is qualified to help you determine your proper tax payment.  1-800-LAW-FIRM, PLLC is lucky to house some of the most qualified property tax attorneys around.  Dial 1-800-LAW-FIRMor log onto www.1800lawfirm.com to see how we can help you today.