Owning a Home

When you are an owner of a property or a piece of land, property taxes are inherent to the ground. Property taxes fluctuate considerably from one location to another and payment policies vary from lender to lender. Because of this variation, potential home buyers should carefully analyze property taxes as a constant additional expense to the ownership of the property. But also, to own a House can be a great advantage at the time of calculating the income tax. Many expenses with a home, such as a mortgage interests and ecological improvements, are deductible and reduce your overall tax burden. Below you will find tips on how to use your home as a tax shelter, detailed information about taxes on the property and resources of the Internal Revenue Service IRS.

Property Tax Rates

Determining Property Tax Rates

How property tax rates are calculated? Taxing land and buildings is one of the oldest forms of taxation in the U.S. Before income and sales taxes, local governments used property-based taxes to finance most of their activities. Property taxes remain a major …
Property Tax Assessment

Property Tax Assessment. What Does It Mean?

What does your Property Tax Assessment actually mean? An assessment is, simply said, an estimate of what your property is worth. This valuation of the property helps decide what part of the local property tax levy should be billed to the property.
property taxes payment

Property Taxes Payment Explained

Ownership of a home and property taxes payment. The two concepts complement each other. Provided that there have been property rights, there has been a governmental entity charging property taxes. Property taxes vary widely from jurisdiction to jurisdiction, you pay more in the …
Property taxes

Property taxes and 3 tips to reduce it

Many types of property are subject to property taxes, although the most common is that the tax serves as a basis value of the real property (land). Municipal governments use property taxes to raise revenue probably more than any other taxing authority. Municipalities …
Property Tax Exemptions

Property Tax Exemptions Basic Overview

What are Property Tax Exemptions? Basically, all real and personal property is subject to tax unless there are established specific exemptions. There are various types of exemptions. These include the use of the property (for example, property used for religious purposes or of …