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With home prices at five-year lows in some places and the economy starting to level off, more and more people are entering the real estate market and beginning to purchase houses. This process usually includes obtaining a title insurance policy. A title insurance policy protects the purchaser if the title to the home, lot, or both is not in the condition stated on the face of the policy. The policy generally will contain certain exceptions and exclusions for known defects, such as easements. Thus, if the homeowner suffers a loss (e.g., restricted use of his backyard due to an easement), the homeowner may recover under the policy unless the loss is due to an exception or an exclusion. But what if the exception or exclusion is not entirely clear?
This is the exact situation Mr. Michael Crossman and his wife faced. [continue reading]
 Because 2010 is not a reassessment year for Missouri real property (i.e., your real property does not get revalued for tax purposes), Missouri property taxes in 2010 will be based on property values as of January 1, 2009. So if you own residential property, vacant or undeveloped land, apartments, commercial buildings, office buildings, etc. in Missouri and feel that this property has declinved in value since January 1, 2009, you should consider filing a property tax appeal challenging the 2009 valuation. The higher the property value, the higher the tax bill.
Given the current economic conditions in Kansas City, Missouri, it may not be that uncommon to have had significant fluctuations between the January 1, 2009 valuation and the January 1, 2010 valuation. The time to appeal your property’s valuation is now. An experienced Kansas City real estate attorney can help you with this process.
– ksmolawyer
Kansas county tax appraisers have begun sending out notices relating to 2009 property tax. Specifically, these notices address how the property is classified and what is the assessed value of the property. County tax appraisers usually send these notices on March 1, 2009, but because of a computer problems these notices will be mailed out sometime in March.
Property owners who feel that their property has been wrongly classified, valued, or both may appeal the county tax appraiser’s determinations. Property owners must start this appeal within 30 days of the date the notice was mailed. For Johnson County, Kansas residents, this deadline date is March 30, 2009. A Kansas real estate attorney can assist you in determining whether an appeal is advantageous.
– ksmolawyer
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