An Inground Pool Can Raise Property Taxes
Aventine Properties | February 29th 2021 | 2 min read
An inground pool will increase the value of your home thereby increasing your taxes as well. This is because an inground pool is a very concrete upgrade to your home. An inground pool requires a lot of changes to the land, extra water pipes, not to mention an increase in water usage. The size, depth and other features of the pool will also affect your home’s value.
An inground pool can actually raise your property value by 6-11% according to US News & World Report. But the real estate market must also be taken into consideration. After COVID public pools will no longer seem like such a safe bet, and home buyers will likely see the pool in your backyard as a plus. 🏊 Besides an inground pool, there are other options such as an above ground pool. An above ground pool does not affect the property value of your home since there are no changes to the land and can easily be removed or replaced. In addition, an above ground pool does not cost as much as an inground pool.
Just as a reminder, in order for a pool to have a long-lasting effect on the value of your home, it must be maintained at all times. Proper care and up-keep will meet all mortgage lenders requirements thereby allowing home buyers to purchase your home if you ever do decide to put it on the market. Failing to do so could lead to having a hard time selling your home.
If you do decide to have an inground pool built, your home assessment will be reassessed because of the addition. The assessor will review and decide on your property’s new value. If you believe that the new value is unfair or does not match other homes in your area, let us know so we can file a grievance on your behalf. In any case whether you do decide to make changes to your home or not, you can always count on Aventine to fight for your tax reduction.