Frequently Asked Questions
Q: Can Lower Your Taxes, LLC help me? Why should I use LYT?
A: With a staff that has over 30 years of combined real estate experience, you can rest assured that LYT will get the job done for you. Tax reduction is our only business and our office is open year round to serve you.
Q: What will it cost?
A: No reduction = no fee: If your assessment is not reduced, you owe nothing and we refund you any monies already paid. If your assessment is reduced, you pay 50% of the first year's savings, plus the $100 initiation fee. After that, every year, all the tax savings from your reduced assessment are yours.
Q: How do I find out more or get started?
A: Just call LYT: (330) 286-9674, or click here for more information.
Q: How can I find out if my property taxes are too high?
A: Sign up with LYT, for free by clicking here, and our staff will evaluate your case and tell you if you are paying too much or, call us today at (330) 286-9674 to speak with one of our representatives.
Q: What is tax grievance - tax appeal?
A: Tax grievance is the legal process for getting property taxes reduced. A complaint, or grievance, is filed against a county's assessment of a piece of property. If the grievance is denied, that decision can be appealed by filing an appeal to the Ohio Board of Tax Appeals.
Q: What is assessment?
A: Your assessment is the county's determination of your property's value, or a fraction of that value. The amount you pay in taxes is based on your assessment - the higher your assessment, the higher your taxes. Some assessments are fractional, at something less than 100%, making it hard to determine what value is assigned to your property for tax purposes. For example, your assessment may be $2000 - if the assessor is assessing at 2% and your property is worth $100,000.
Q: Will I have to attend any hearings?
A: Only if you wish to.
Q: What if I have tax exemptions?
A: Any reduction will be in addition to any exemptions you already have. Your existing exemptions and future eligibility will be unaffected.
Q: I got a reduction some years ago; should I file again?
A: It depends. Ohio law has several instances that can affect whether one can file more than once every six years. Because real estate values have decreased in the past few years, many homeowners who reduced their property taxes in the past are now entitled again. To verify eligibility, contact LYT.
Q: If a large reduction is granted, and a large fee is incurred, will you accept payment arrangements?
A: Yes we will - on a case by case basis.
Q: How long does the grievance process take?
A: The whole process usually takes about a year. If the county reviews your case early in the process, your savings will be reflected on your 2nd half tax bill. If the county doesn't get to your case until after, it will be retroactive to the tax year in which the grievance was filed and you will get a refund or credit for all overpayments of taxes.
Q: When is the best time to start the grievance process?
A: The best time to sign up with LYT is right now! We will be ready to file your grievance by the deadline of March 31st. If the date is missed, you have to wait until the next year. Call us at (330) 286-9674 or fill out our Information form. We accept properties all year long and will be ready to file again, early in January.
Q: Can I file a grievance myself?
A: Yes. However, most homeowners who file for themselves don't get the reduction they deserve. Many are unprepared and don't have the time, experience, or tools to deal with the complicated grievance process. You may save money, but we help you save even more.
Q: Is it OK to sign up with more than one tax reduction company?
A: No. If you sign with more than one company, you will delay your case and, if a reduction is granted, end up having to pay each company. |
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