808 Oahu Realtor (Ryan Riggins) License #RS-74740

Our way of spreading the word with Real Estate News

You may never stop paying for some improvements

Leave a comment

14041766_s.jpgYou’ve saved the money and are ready to pay cash to build a new pool for your home. However, that’s just the beginning of your soon to be increased expenses which will include maintenance, higher utilities and higher taxes.

Homeowners obviously benefit by a larger equity when their home increases in value due to appreciation. A not-so-obvious effect that will also more than likely take place is that their property taxes will increase. In most cases, a property’s assessed value is generally tied to market value to calculate the property taxes based on the tax rate for that year.

Similarly, a homeowner can affect the value of their home by making capital improvements. Some small items may never be recognized by the taxing authority but items that require a permit, certainly are brought to their attention. Items such as a fence, roof, remodeling, windows, new rooms or swimming pools can easily increase the assessed value of a property.

Most states have an established time frame in which to challenge the current tax assessment for that year. The process is relatively simple and doesn’t require professional representation. It generally involves showing that there is an error which has overstated the value or that current comparable sales indicate a lower value.

If you’d like more information or need the comparable sales data, please let us know. We would be happy to help you investigate the possibility of lowering your property taxes.

Author: Ryan Riggins (RA)

Ryan started building his businesses at the age of 18, and he hasn't stopped since. He is a successful Real Estate Agent and Investor. He not only has rehabbed properties, but also holds properties as rentals. Ryan has made money by building his real estate investment business, learning on his own, and finding mentors willing to share their knowledge with him. Ryan is a true Entrepreneur. When Ryan Riggins found himself making a change to Real Estate in 2006, he looked back to his first open house at the age of seven with his Mentor/Broker and father John Riggins. In 2006 Ryan was living in Ohio, he realized it was time for a change. He packed up and moved to Port Lavaca, Texas. He literally rolled into town on his last tank of gas, and lived in a old burger joint, and knew he needed to come up with money to pay his Mortgage. Ryan teamed up with his father and started rehabbing Mobile Homes. Ryan kept working until he had put systems in place for all phases of the business. He has a system for finding properties, to finding contractors for remodeling Flipping and Renting. Ryan continues to works as a Realtor with his father John Riggins as his broker and Rehabbing homes, doing about 4 deals a month. This is his passion. He loves the adrenalin rush, and yes Rehabbing can be a little stressful. In fact, Ryan says: "You've got to have ice water running through your veins." In the course of Rehabbing, Ryan manages to beautify his properties, and the surrounding neighborhoods one step at a time. Ryan enjoys helping others Build Wealth through Real Estate. Whether it be the first time home buyer or the experienced investor or helping distressed home owners sell to avoid Foreclosure. To Ryan its all about building life long friendships.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s