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An income property is valued at 220000 based on 3 cap rate. What would be its value?
Wiki User
∙ 16y ago
Your question is not 100% clear, but before you continue to read, you might want to go to the link in order to see how the cap rate is calculated.
Now, as you can see, the cap rate is a function of 3 things: The price of the property, the income and the property expenses.
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Wiki User
∙ 16y ago
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What are the similarities between property tax and income tax?
both based of amount of the value . the higher income and property value determines tax rate
What is income property good or service is subject to tax called?
Income property, goods or services that is subject to tax is called the taxable portion. This is usually based on a percentage of the value and other criteria.
What kind of income tax is based on your taxable income?
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I'm not absolutely sure with the State of Michigan but the Federal income tax, you are required to show income on property sold whether or not the property was inherited. It may also be different based on what kind of property you are talking about. The taxes may differ when you have real property like a home or other property like bank accounts, stock, insurance proceeds, etc. I would suggest that you have a professional prepare your taxes in a situation like this.
What are the similarities between property tax and income tax?
both based of amount of the value . the higher income and property value determines tax rate
When buying a multifamily home do lenders consider income from the rental unit as part of total income?
If by income, you mean the buyer's income, then the answer is no, the bank will not impute the property's income to you, since you do not yet own the property. If you are asking whether the bank takes the property's income *into account* when you are borrowing to purchase, then the answer is yes. Banks will lend based on the amount of income the property is currently generating.
What is income property good or service is subject to tax called?
Income property, goods or services that is subject to tax is called the taxable portion. This is usually based on a percentage of the value and other criteria.
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Property taxes are typically considered regressive because they are based on the value of the property rather than the individual's ability to pay. This means that lower-income individuals may bear a disproportionate burden compared to higher-income individuals.
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What kind of income tax is based on your taxable income?
Income tax IS based on your income that is why it is called INCOME tax.
You have unclaimed property Will claiming it reduce your social security retirement check?
No. Social Security retirement (vs. SSI) is not based on income or assets.
How much will your tax return be after you buy a house?
The tax you pay is based on your " Net relevant earnings ." In other words your gross income before any deductions. Buying a property has no correlation with your income tax.
Can child support be based on income?
Yes the amount can be based on your income.
Do you owe Michigan tax on the sale of inherited property?
I'm not absolutely sure with the State of Michigan but the Federal income tax, you are required to show income on property sold whether or not the property was inherited. It may also be different based on what kind of property you are talking about. The taxes may differ when you have real property like a home or other property like bank accounts, stock, insurance proceeds, etc. I would suggest that you have a professional prepare your taxes in a situation like this.
Should Re-Assessment for Property Tax on a marina be based on Current Market Land Value or Potential Gross Income?
The tax rate will depend on zoning and the classification of the property, i.e., commercial, industrial, residential, etc.
Does Alabama have income based apartments in the Mobile area?
Yes, they have income based apartments here in Mobile,Alabama, here is a link income based apartments in mobile alabama.com
