Tuesday, January 17, 2012

Waiting For Property Tax Refund

For the past few weeks my husband has routinely played this song on YouTube -- I Want My Money Back.  Why? We are eagerly awaiting a refund check owed to us by the City of Madison for excess property taxes paid.  Yes, a refund. We bought a house in 2010 for $80,000 less than assessment. When we got our property tax bill we successfully challenged the assessment and it was lowered to the purchase price.  However, the escrow taken as part of our mortgage payment could not be adjusted.  At the end of 2011 the mortgage company mailed us a check, payable to us and the City of Madison. The amount exceeded what we owed by about the same amount as a monthly mortgage payment.  I paid the taxes as soon as possible, and now we wait.  We were told it would take about 6 weeks.  I hope it comes soon...this song is getting old fast!

Frugal lesson from this story -- challenge assessments and other prices set by others.  You never know when you'll find some big savings!


2 comments:

  1. When they got our property tax bill they successfully challenged the assessment and it was lowered to the acquisition cost.

    Condo Manager

    ReplyDelete
  2. The actual song is the Meat Loaf song from 1994: Life is a Lemon

    ReplyDelete