A special report from the National Association of Realtors highlights one of the most missed factors when planning a renovation is a possible increase in property tax. As a remodeler, you can tell your customer if the renovation that they are considering has a possibility of raising property tax.
THE DAILY HERALD'S Jim Woodard reports on the additions to living space that add to the tax bill but points out how large renovations can have the same effect:
"Also, large renovations -- such as adding a bathroom -- likely will prompt a reassessment of a home too. That's because an additional bathroom allows more people to live in the house, therefore increasing its value," says Pete Sepp, president of the National Taxpayers Union, a pro-taxpayer lobbying group.
Head over to THE DAILY HERALD to learn more about how home renovations may raise tax bills: