Tuesday, 15 October 2019


OPTIONS TO PREVENT UNFAIR PROPERTY TAXES

INTRODUCTION

Owning real estate means you are ready to pay taxes on such property. There is no way to legally avoid this. The revenue generated from property and other taxes is used by your government to improve the living conditions by providing critical infrastructure like roads, water supply, and electricity and so on. As a citizen, it is a moral obligation to pay your tax so that your government can meet the challenge of making your country a better place to live for you and generations to come. However, you should take care to pay taxes only according to what the law in your state or area stipulates. Not doing so can have financial implications for you. A good number of people are suffering this consequence. You could be one of those, as most people are not aware that they are paying more than they should on property tax. It is the aim of this article to discuss some measures you can take to ensure that you are not been taxed unfairly. Before we look at these measures, it is vital to first define property tax just to keep things straight.

WHAT IS A PROPERTY TAX?

It is tax on real estate such as houses and land that is calculated based on the market value of the property at any given time. This tax varies by states even within the same country. Normally a government appointed assessor will visit the property, determine its present market value and multiply it by the tax rate as pre-ordained by that jurisdiction. And that is the amount payable to the government by the owner of the property.

WHAT TO KNOW BEFORE OWNING A PROPERTY

Before you own a property, you will have to buy, inherit, or be given it for free. If you are buying it, then you should take care that there is no claim on that property by any third party. For example, accumulated tax, bills or loans that have not been paid. If you discover any claims on the property, it should feature in your negotiation. Having determined the condition of that property, the next step is to study the tax laws of that area. Rates, assessment and taxable properties vary by jurisdiction. Do not assume it to be uniform all over. Only when you have confirmed the status of that property, and are familiar with the tax laws should you begin negotiating a deal.

WHAT TO DO IF YOU OWN PROPERTY LIABLE TO TAX

So now you own taxable property. It is time to make sure that you are not over-taxed. In some countries like the US, a study revealed that 60% of homes are being over-valued for property tax – and only 2% of the property owners are doing something about it. The remaining 98% just keep paying. Probably because they do not know what to do, or haven’t the guts to file an appeal, or are even unaware. And this is not happening only in the US. It’s everywhere. For this reason, we have outlined some steps you can take to investigate the tax you are paying and make sure there are no errors costing extra money.

CHECK YOUR PROPERTY CARD FOR ASSESSMENT ERROR

The major reason for higher property taxes is over-valuing of the property by assessors. Some assessors do not go through the property during assessment. They estimate the value by just examining a portion of the property. This often happens in the absence of the owner. The likelihood of wrong assessment or mistakes increases. That is why you need to be around during assessments. While you cannot alter the tax rate as this is predetermined by your local jurisdiction, you have a say in the assessment. You can explain to them why a little decoration or construction shouldn’t feature in the assessment. In most cases they can be persuaded – particularly if you have a good relationship with your assessor. Note that there is no universal formula for assessing property. That is why the government let you have a say in the assessment process. Also crutinize your property card. There might be a mistake with the number of rooms or outbuildings, or the property is being taxed based on a previous market value way higher than the current market value.

GET EDUCATED ON TAX LAWS FOR YOUR NEIGHBORHOOD AND BE CURRENT.

Check the website of your Assessor’s office. They are the people deciding how much you pay based on their assessment. Any mistake or deliberate act on their part will hit you financially. You have to know as much as you can, what is going on in their operations. And one of the first places to do that is their website. You will likely find some very important information on how they determine property value, and this information will help you detect mistakes and provide you with a good excuse to face them for correction. They also provide information on when the next assessment will take place. This is particularly important as it will give you time to prepare and wait for the assessors. Any assessment done in your absence could lead to higher taxes for you. In the same way, you should check any real estate website for recent sales of property in your neighborhood. This is because some assessments are based on home sales or the cost of replacing your home in a particular neighborhood. If this is the case with your neighborhood and you are able to find a recent sale, it will be a good idea to take a look at the property and compare it to your own. You may discover it is worth much more than yours, but been valued at the same level. Meaning your property is being over-valued. You can then go to your assessor’s office and get the differences settled, provided assessments are based on market value.

CHECK THE PROPERTY CARD OF YOUR NEIGHBOR

Sometimes your neighbor’s home is worth more than yours, or should have the same value as your own. And because your neighbor took the necessary steps to prevent over-valuing of their property, they are paying less instead of the same as you. The card normally contains information like number of bedrooms, outbuildings, and when each assessment was made. You can request to see their card when you visit your assessor’s office. They will let you see it. In fact many people visit their assessor’s office only to check property cards of their neighbors.

BEWARE OF EXTRA CONSTRUCTIONS AND DECORATIONS

A gallant decoration to your property may exaggerate its real value to assessors. They are humans too. And as humans we are prone to assume that any spectacular sight that stands out among others must be worth much more than the rest. But in reality this is not always the case. Assessors often compare your home to surrounding houses and will tax you accordingly. It does not mean that you should not maintain your home. The point is not to overly decorate it. Similarly, extra constructions in the home might be considered by assessors and increase your tax. You may want to build an art studio for your hobby, or a shed for your lawnmower, or perhaps construct a water-slide from the master bath to a big indoor pool. These are all good to have, but they will not help with reducing your property tax. Add these constructions only if you really need them, and be around to explain them away when it’s time for assessment.

CONCLUSION

If you discover any errors with your property tax, simply head over to your assessor’s office and have it rectified. In most cases discussing the issue with them will lead to a solution satisfactory to both of you. In the event that the issue is not solved you can file an appeal. Be cautious about this though, as your assessor wouldn’t be happy with you. They may look at it as a bad mark on their competence should you win the appeal. Some assessors will even dig up some offences you have made that they have been overlooking so far. Things like you having issues with zoning compliance and the like. So take not of any defaults before proceeding with an appeal.





THE DANGERS OF TRAFFIC JAM AND HOW TO MANAGE IT PERSONALLY


INTRODUCTION

Cities around the world are plagued with traffic jams. Against the backdrop of slower road developments in most countries, the number of automobiles continues to rise alongside the world’s population. This situation has led to the inevitability of traffic jams with sever consequences for the people, the environment and the economy at large. To some people, the dangers are not obvious except for the waste of time. However, traffic hold ups have far more harmful effects than wasting people’s time. In this article we take a deep dive into the drawbacks of traffic jam on people’s productivity, health, relationship, safety and finances. We then proceed to examine ways one can make the most out of any traffic holdup to minimize its harmful effects. We begin by examining some harmful effects of traffic jam.

RESEARCH REVEALS GREAT ECONOMIC LOSSES TO TRAFFIC JAM

Studies by a US transportation consulting firm, INRIX, found that traffic jam cost America $305bn in 2017 alone, mainly due to the drain on productivity by time wasted in traffic holdups. When people take long hours to get to work, they lose a lot of money in the process. Time is money. Money liable to tax. Money that could be used for investment to boost the economy and other areas of live. Imagine you are been paid by the hour. Imagine putting in less time in your business than you should just because of a traffic holdup. If you value time at $50 an hour and end up losing 4 hours a week, it adds up to $200. In a month it will be $800, and in a year, $9600! And this is not the only way traffic holdup is costing you financially. Another way it sucks is through the money spent on fuel, repairs, and replacement of parts. When vehicles are in idle mode, the parts wear faster, fuel is wasted, and a more toxic gas emitted.

INCREASE IN POLLUTION AND HEALTH RISKS

Vehicles in slow-moving traffic are known to emit far more toxic gases than those in fast-moving traffic. They emit a great deal of Carbon-monoxide. Carbon-monoxide gases have grave environmental and health effects. Apart from polluting the air and accelerating global warming, it leads to increase in the risk of airborne diseases like TB, skin diseases and others. The pollution also makes breathing difficult. As a result, many suffer headache, stress, nausea, fatigue, dizziness, and so on.  Conditions like this normally culminate in mood swings, tiredness at work and even drowsiness. The collective impact on people’s productivity runs into billions of dollars in losses. Sick persons cannot work efficiently, and have to spend money on treatment.

THREAT TO SAFETY

Another big effect of traffic jam is threat to safety. Being held up in traffic can be very frustrating – particularly if one is in a hurry. Some people can’t endure for long, so they risk dangerous maneuvers to get ahead. Accidents are then likely to happen. Fights even break out, while some can be heard bawling at others. Confusions like this are also known to provide cover for thieves to steal something from your car. There are many cases, especially in third-world countries, where thieves take advantage of traffic jam to snatch your phone, handbag, purse, and other possessions. It is difficult to catch them as they get lost in the line of vehicles. Similarly, patients in a critical condition may delay reaching the hospital. Sometimes it leads to their death or severe suffering.

EFFECTS ON RELATIONSHIPS

Finally, another major effect of traffic jam is on people’s relationships – particularly the married. A wife or husband gets held-up in traffic and return home late. Their partner starts getting suspicious that they are up to some mischief. Or the husband returns late most of the time and has little or no time to spend with his children before leaving for work the next morning. And the wife feels she’s getting too little attention. Or the wife gets home late and is unable to cook for the family or do some household chores. The husband gets fed up and there is a quarrel, accusations and even a fight. Some families break up in the process, which then leads to a different set of problems for the children. Relationship problem is not restricted to the home. It can happen at work too. An employee may arrive late and the boss rejects their excuse about traffic. Sometimes this can cost the employee their job or create friction between employer and employee. Another instance is where someone arrives late for an appointment and earns distrust or reproach from his partner, or even lose a contract, all because they were delayed by traffic.

WHAT TO DO IN A TRAFFIC JAM

Despite efforts by governments around the world to help the situation, traffic jams are here to stay. It must occur at least once in a while or on daily bases depending on where you live. It is therefore important to know how you can cut your losses should you get into one. Subsequent paragraphs will discuss some ways you should do this.

MAINTAIN GOOD VENTILATION, AIR FRESHENER AND A FUNCTIONING AC.

The probability of contracting airborne diseases is greatly influenced by environmental factors – majorly, temperature and humidity. Pollution is a major driver of these factors. Pollution hamper lung functioning by causing inflammation of the airways. Diseases like TB and asthma are more likely to occur or get worse then. Temperature in a traffic jam is usually high and the air very dirty. However, winding up your glasses completely is not the solution. You should always leave enough room for ventilation. Spray some air freshener and turn on the AC. This will help reduce the temperature and purify the air in your car.

GET IN TOUCH WITH LOVED ONES OR ASSOCIATES

A second advice is for you to catch up with family, friends, associates or partners who might be worried, offended or suspicious if you arrive late. You can either report the situation and laugh it out with them, or say how sorry you are about it. They will most likely understand which could save you a great deal of trouble later. Also, you might have worked yourself into tension during the waiting. Chatting up a family or friend can bring some relief by taking your mind off the current situation, even for a while.

KEEP CALM AND GET ORGANIZED

Be patient and try to get organized. Getting worried or frustrated cannot change the situation. It will not make the cars move faster or make way for you. It will only increase your blood pressure and drain you of energy. Instead, you can make use of this time productively by organizing your schedules for the day, planning a trip, working on your investment or wedding plans and other things of importance. Keep your mind occupied with a problem. You might have found a solution, or made significant progress by the time you get out of the holdup.

DO SOME WALKING

Alternatively you can take a short walk. Get fit by taking a stretch. This can relief stress, ease muscle stiffness and fatigue, improve blood circulation and many other health benefits that come with waking. Do not get too far from your car though, or take your attention completely off the traffic. If possible, you can pick up a snack from a nearby store, find some shade and chill out.

TAKE SAFETY PRECAUTIONS

If the area is known for violence or stealing, always lock your car doors, wind up the glasses leaving just enough space for ventilation. If you want to take a stretch, lock the car with your valuables inside. It is preferred that you stay inside, particularly at night, to minimize the risk of getting rubbed or harmed. Avoid getting into a show-down with anyone for breaking your mirror, scratching or denting your car or bumping into you. Try to resolve every situation maturely. If you are at fault, do not feel above apology. If your partner becomes too aggressive, call the attention of the police or any security personnel around. Never get into a fight except in self-defense.

EDUCATE OR ENTERTAIN YOURSELF

Read a book or novel you love. It is a good idea to have one in your car always. With our busy schedules these days, most people hardly have time to read. Instead of sitting idle in a standstill traffic jam, and probably working yourself into a rage, do some reading. You can also browse the net to catch up with latest events or increase knowledge in a particular field of interest to you. It will have a calming effect while adding to what you already know. It is also a good brain exercise to boost your IQ. Alternatively you can play your favorite game, listen to helpful audio or watch a good movie on your phone or tablet.

CONCLUSION

In conclusion, there are other ways in addition to the ones suggested, that you can make good use of your time during a traffic holdup. And you should try to find more. It is unlikely that traffic jam will abate any time soon. The investment requirement is just too great for most governments to afford. And new cars will continue to outnumber the ones out-of-service every year, with most becoming cheaper. The population for a majority of countries is expected to keep growing just as will hydrocarbon consumption. Worse still, road constructions will lag behind this rapid development. At present, the best solution to this problem appears to be alternative means of transportation like railways and cable transport. Unfortunately, the adoption of these systems will be too slow, especially in third world countries.