Is there any Tax help for me?

Asked by Beth, 98665 Fri Jan 9, 2009

I bought a home in Vancouver ,WA in June 2007 for $199900., it appraised for $205000. and was assessed at 199. It is now assessed at $175000. I missed the first time home buyer credit, I can't refinance, and I can't find any tax relief for me! Anyone have info?

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Dallas Texas, Agent, Dallas, TN
Fri Jan 9, 2009
You can request for your taxes to be lowered. you need to petition city and contact them determine how to go about procedures dispute in a correct manner.
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William Rudge, Agent, Boiling Springs, PA
Fri Jan 9, 2009
Beth, unfortunately it does not appear that you have any tax relief just based on the information that you have provided. I am not familiar with the local property tax laws in your area but you may be able to have your taxes changed via an appeal with the local tax governing body. Your accessed value normally does not match up with what your appraisal is or what your home was purchased for. You would need to search out the appraised values of similar homes in your neighborhood and present them to support your request for a reduction in property taxes. So far as income tax wise you have your mortgage interest deduction if you itemize but there isn't much more that you can do unless you claim an in-home office deduction. If the property was an investment unit you would have your depreciation to deduct and repairs but it sounds like this is your personal residence. You should consult with a tax advisor for clarification on my comments for your area.
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Duke Hayes, Agent, Vancouver, WA
Fri Jan 9, 2009
Hi Beth,

I would suggest talking with an accountant or tax professional regarding your situation. I can send you the names of a couple if you like.

I'm sorry, I can't be of much help here. All the best to you...
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