As I’ve written in a prior recessionary tip ^[1]… Robyn (my wife) and I are continuing to manage or eliminate costs as our local economy continues to feel the impact of “The Great Recession”.

Like many of you, we have seen our home value plummet. Yes, we did take advantage of the low interest rates by refinancing earlier this year. However, our home value is down about 20% since we purchased it less than two years ago.

In discussing this with Steve, a very smart friend at work, he quickly suggested that I submit a “Reassessment of Home Valve” with my county recorder. Steve made it very clear that Robyn and I could ultimately save a good amount of money on our annual property taxes (1.25%) if the reassessment was approved.

Well… I have good news to report. Our reassessment was approved five months after we applied. As a result, our tax bill will be lower this year, next year, and so on.

I hope this idea might help you as well.

Keep on tickin’ and savin’!