Fight back against property taxes

NEW YORK (CNNMoney.com) -- You don't have to wait for all the campaign promises. You can lower your property tax bill yourself. While it's not always an easy road, there may be a great payoff.

If you're ready and willing to take on the powers that be, here at top tops we'll tell you what you need to know.

At least 15 states have passed property tax reform because citizens took matters into their own hands, says Pete Sepp of the National Taxpayers Union.

Team up with your neighbors. You may be able to circulate petitions that put tax-limit laws to a public vote. Go to the initiative and referendum institute to see what the laws are in your state. That Web site is IandRinstitute.org.

Most states also allow you to organize political action committees where you can endorse candidates who support property tax relief. You'll also be able to hold community forums to discuss these issues. To get the nitty-gritty on how to organize a local political group go to the National Taxpayers Union at NTU.org.

We're not saying it's easy, but consider this - in Tennessee, voters may get to decide on how much property taxes increase. In South Carolina, some residents will get to decide how much property taxes can increase over a 5-year period. And in Maine, citizen initiatives have made it much harder to even increase taxes at all in the first place.

To get a lower tax bill you have to prove your home is worth less than City Hall thinks it is. If you want to cut your taxes, you have to showcase your home's warts.

And the first place to start is your home's assessment. Get your records at the local assessor's office and comb the report for any errors. Maybe the assessment listed more bedrooms than you have or maybe you've knocked down the garage or removed the pool. Make sure all the room measurements are house are accurate.

If you find a mistake on your assessment, document it with photographs and inspection reports. You may only have to meet with the assessor or send a letter outlining the errors.

The other way you can fight your taxes is to prove your house was assessed at a higher rate than comparable homes in your area. Go to your town's assessor's office to get the figures on at least 5-10 homes that are the same size, age and in the same area as your own home. Remember, these numbers are a matter of public record. You can also go to domania.com to check out recent sale prices.

Even if your tax bill is $100 higher than your neighbors, you may have a case, says Sepp. And your efforts are likely to pay off - 70% of homeowners who fight back, walk away with a lower tax bill.

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