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Peter Bordes

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Serial Entrepreneur, Founder, Seed/Venture Investor, Co-founder, Chairman oneQube, TruVest.co, Trajectory Capital. Board of Directors Beasley Media (NASDAQ:BBGI), Fraud.net, OCEARCH.org

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Property values: How to size up your home’s tax assessment to...

These are the 10 least tax-friendly states for retirees, according to GOBankingRates. How property tax is calculated Your home’s value might be determined for tax purposes with the most recent purchase price, or by a blanket assessment of a neighborhood’s estimated property values. Depending on the state, property values may be revisited every year, or much less frequently. It may take a trip to your tax assessor’s office to compare your home’s assessed tax value to nearly identical properties nearby to see if your home is valued fairly. More: What retirees must know about President Trump's latest tax proposal on 401(k) withdrawals When your tax assessment is wrong Even jurisdictions that reappraise values often can get it wrong. Property tax freezes and automatic increases In some states, senior homeowners or residents with low-to-moderate incomes may be eligible for property tax freezes, capping the property tax or future rate increases. If home values are increasing where you live, property tax rates should be falling, Bawcom says. If not, you’re being hit with an automatic tax bill increase. Twitter: @halmbundrick NerdWallet is a USA TODAY content partner providing general news, commentary and coverage from around the web. Its content is produced independently of USA TODAY.