Homeowners May Secure Long-Term Savings by Appealing Property Taxes, Experts Say

As property taxes continue to rise across the U.S., experts advise that appealing an inaccurate assessment may result in substantial long-term savings for homeowners.

The median property tax bill in the U.S. reached $3,500 in 2024, up 2.8% from $3,349 in 2023, according to a Realtor.com report. However, appealing an assessment could save the average homeowner approximately $539 per year.

“You’re banking on several years of savings,” said Pete Sepp, president of the National Taxpayers Union Foundation (NTUF), noting that reassessments occur infrequently in many jurisdictions.

White and red house in old style with a fence | Source: Pexels

Homeowners in areas such as New York City, San Jose, and San Francisco are among those paying the highest taxes, with median bills of $9,937, $9,554, and $8,156, respectively, according to LendingTree.

Experts emphasize that many assessments are based on inaccurate property details. “Those kinds of things get embedded in your property assessment, and year after year, you’re paying more than you should,” Sepp added. NTUF estimates that 30% to 60% of taxable properties are over-assessed.

To begin the appeal process, homeowners should first verify the accuracy of their assessment, checking for errors such as incorrect square footage or outdated structural information. Sal Cataldo, a real estate attorney, said the appeal focuses on “challenging the numbers that they’re plugging into the formula for your particular house.”

Colorful estate planning with tiny houses | Source: Pexels

Comparing one’s tax bill to neighbors’ and checking eligibility for local tax exemptions are also recommended. Cataldo noted that such exemptions often apply to seniors, veterans, and low-income households.

Sepp advised homeowners to be mindful of filing deadlines and consider seeking professional guidance, such as from real estate agents or appraisers.