Real Estate

Here’s how to fight a higher-than-expected property tax bill

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If the value of your home ballooned during the Covid pandemic, you may receive an inflated property tax assessment in the mail.

There are ways, however, to combat a higher bill, experts say.

Despite double-digit growth in single-family home prices, property taxes only increased by 1.8% in 2021, with an average payment of $3,785 annually, according to a report from Attom, a real estate data analysis firm.

The discrepancy may reflect the lag in property tax assessments, with the schedule for new estimates varying by location, said Rick Sharga, executive vice president of market intelligence at Attom.

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Source cnbc.com

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