I know this is a late answer, but if the homes you are describing don't have any other features that are causing their taxes to be higher (usually the home square footage and lot size as well as number of bedrooms and baths are important reasons for tax differences), then all things being equal it would seem your house should be preferred over the other homes. First time buyers that I work with are very much interested in taxes as much as they are interested in the price of the home. It seems to me that your homes, with price $20,000 less and lower taxes, would be one of the first ones a buyer would consider, unless there are other downsides that you haven't mentioned or other upsides that these other homes have. I hope by now you have sold your home. Take care, Ellen
I hope there is a reason for the higher ticket price. Today's buyers are internet savvy and have access to quite a bit of information online where they do their own comparison. Are you getting many showings?
Some buyers are understand this and some do not, which is why it is so important to work with a real estate professional who will explain all of the ins and outs or a purchase or sale.
However, if you're saying that your home is priced $20,000 higher than the others, buyers may not even be looking at it because they might be looking in a price bracket that excludes yours.
I know that it is not that simple.
You did not say if the houses you are comparing yours to are significantly larger which is generally reflected in the taxes. You also did not give the percentage value of your $20,000 price difference compared to your neighbors. I am assuming yours is 20k higher in price. First and foremost, a buyer, whether 1st time or seasoned, expects a value and will make offers based on perceived value. The buyers I've encountered prefer to pay the lowest taxes possible but once educated on how assessments work understand that the larger the house, in general, the higher the taxes. All things being equal, buyers are willing to pay more in purchase price than taxes. There appears to be a disconnect in the perceived value of your home vs the asking price. Ask your agent to update your CMA (Comparative Market Analysis).
The other issue that seems to be part of your question is the asking price of your home. If I am reading this correctly, yours is priced $20,000 higher than the competition. The problem with that is you have to get people in the door in order for them to see the updated kitchen, big yard and realize the situation with the taxes. If I were you I would make sure my asking price was in line with the competition and then let buyers realize that, for the money, mine offers the best value.
Perhaps your state and locale are similar to mine which require:
1. Written disclosure of the estimated taxes at the sale price to the buyer.
2. Current property tax rate in the MLS listing.