2021 is already here and property owners are thinking about how much tax they should pay this year. Every year the tax rate keeps on increasing a certain amount and that happens due to many reasons. Are you eager to find what increases property taxes? Then here is the list of 5 factors that are the reason for the tax hike. 5 Factors That Hike Property Taxes! State and city budgets The pandemic that toiled the whole world is now moving towards the budget cuts of states and cities. The pandemic has caused an enormous plunge in economical status and that is alarming to increase the state and city budget cuts. Because of the pandemic, the state and local governments are finding it hard to manage the budget expenses, and to overcome this scenario rate of property taxes can be increased. More funds to public Public benefits are completely spent... Read More

What is the assessed value? An assessed value is a particular value assigned for a property that helps in taxing purposes. It is calculated with the help of sales comparables of various neighboring properties. It is assigned by the state or local government to calculate the property taxes of that particular property. An assessor directly inspects the property and he is completely responsible for assigning the values of the property. How does it work? An assessor inspects a property that you own and comes up with $300,000 as of the assessed value of your property. Every county sets a tax percentage for every year. The tax rate for the respective year is given as 4% in your particular county. The tax rate of 4% is applied on $300,000 and the property tax calculation for the year will be $12,000. The $12,000 is the tax amount that you need to pay... Read More

When filing a property tax appeal, you must have come across the word binding arbitration, but what is it all about. Arbitration refers to resolving a dispute outside of the court. Parties reach out to an arbitrator; the arbitrator listens to the disputes and comes up with a decision. This blog is a primer on binding arbitration. Get to know how to qualify for it, the arbitration rules, to file or not to file a binding arbitration, and a lot more. What is binding arbitration? It is nothing but an alternative to filing an appeal of the ARB decision to the district court. An arbitrator listens to the facts of your appeal and takes a decision accordingly. The process is less formal when compared to that of a trial or a courtroom hearing. Your role during the entire process  You can present the case all by yourself. Call witnesses, present... Read More

As we are stepping into 2021, it is better to have clarity on tax protesting. Most people think when they can’t pay their property taxes they may have to out of a location. But that’s not the solution we are looking at! There is a more realistic approach that can help to reduce your tax burden. Tax protesting and O’Connor can help you to deal with tax reduction. January is the season that allows us to prepare for taxes. Based on your county, you may get your tax assessment during the first month of the year. Since the property taxes are assessed based on the property that you own, the owners who have high property values are supposed to pay high property taxes. Since we are still recuperating from the impacts of COVID-19, which happened during March 2020 many owners find it hard to pay higher taxes. Better Resolution As... Read More

Every single day we come across so many conversations that are somehow related to covid-19. Even real estate myths are being built in the middle of the pandemic. But we have to be clear that all of what we hear is not true. Most of the myths created now are making investors lose their potential investments.  Here we have 3 myths that will now break open to show the possibility of real estate markets. Don’t sell your real estate property! There are many home sellers waiting out there to sell their houses. But they are stagnated by the greatest myths of the pandemic. It’s don’t sell your home now, it’s definitely not a good time as the real estate market is fluctuating. Compared to the previous year, home sales have gone down to 14%. Many investors are crowded by these myths and stopped investing. But that’s not true. Many clever... Read More