What to do with $1,000 now

Given the uncertain economic picture, you probably have a chunk of change squirreled away. Here's how to best use that cash.

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Fight your property tax bill - the easy way
If you own a home that has fallen in value and live in a high-tax area, you could save a bundle by fighting your assessment. But doing it yourself can be maddening and time consuming. Not up for it?

Outsource the job to a real estate lawyer or a new breed of pro: a property tax appeal expert. He or she will handle the whole thing and charge 25% to 50% of your first year's tax savings.

Say you live in Lake County, Ill., and the value of your home has fallen from $600,000 to $450,000. A reassessment could lower your annual bill from about $13,000 to $9,750, says Curtis Perlman, president of Lake County Appeal. You'd owe the pro $813 (if he charges 25%).

Take the remaining $187 and spend it on a fancy dinner to celebrate!



NEXT: Pick a low-fee 529 plan
Last updated October 18 2010: 2:02 PM ET
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