In regards to hot topic: “I purchased a property at the peak of the market in 2005. With my home value down now, how can I get a reassessment on my property taxes? Is it worth doing?”

It’s definitely worth the time.  The process should be fairly easy however varies by county / jurisdiction.  For the local counties I’ve researched there is no charge however do your homework.  Contact your local area Realtor if you are not one and get current comparable property assessments.  Contact your tax assessor or local taxing agency some may be via phone, mail or website.  Many have forms posted on their sites.  Apply for a reassessment and attach copy of the comparables, if you are within the proper assessment amount it may not be worth the time.  Ask if there is a chance this process may actually increase your taxable amount.  It is rare however possible if one of more homes tweaked the market somehow.  Better ask before starting the process.  I am aware of at least one client where appraisal actually went up however in today’s market is as rare as I have seen.