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Property Taxes

~700 answered questions
Parent Category: Taxes and Tax Preparation
Property tax is the fee imposed upon individuals or legal entities for real properties owned within the jurisdiction of the taxing state or municipality. The taxable amount is based on the appraised and assessed value of the property.
The law can come and remove anything from anywhere if it is on a no parking place, tresspassing, or if you haven't been paying your bills. If you signed the contract to the car saying the car could be repossessed, the government practically owns your car. If you didn't read a contract that you signe…
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I wouldn't think NC will worry about CT taxes as long as NC gets their taxes. Call the NC DMV and ask what is required for registration. GeneralStatutes � 20-4.4. Authority for reciprocity agreements; provisions; reciprocity standards. (b) When the Commissioner enters into a reciprocal registrat…
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ColoradoTITLE STATE: Yes. SECURITY INTERESTS: Shown on title held by lien holder. LICENSE REGISTRATION: Colorado Motor Vehicle Division, 1881 Pierce St., Lakewood, CO 80215. Tel: (303)205-5608. RECOVERY REQUIREMENT: Repossession allowed without committing a breach of the peace after 20 Day Right to …
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Co-op Taxes [From Publication 527 at the IRS' website] If you have a cooperative apartment that you rent to others, you can usually deduct, as a rental expense, all the maintenance fees you pay to the cooperative housing corporation. However, you cannot deduct a payment earmarked for a capit…
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You can deduct the costs over time. Both items are considered capital expenditures, so must be depreciated over the life of the property (27.5 years).
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Property taxes in bankruptcy are usually usually governed by the laws of the state of residency. You can call the state revenue office, ask for the property tax division. They should be able to supply you with the needed information.
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It depends where you live, although it's similar everywhere.  
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NOT IF THE LANDLORD IS ONE & THE SAME AS THE CURRENT OWNER & PROVIDED ALL OWNERS' OF SAID PROPERTY SIGNED THE PURCHASE AGREEMENT.
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If you mean do you have to pay taxes on the proceeds from the sale of a house which had a HELOC on it, the HELOC would be have to be paid off upon sale of the subject property. You wouldn't have to pay taxes on it since it is an expense, not income.
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Some basic facts:1) You cannot deduct any property taxes or mortgage interest unless YOU paid it. If a co-owner or cosigner (or even a complete stranger) paid the taxes or interest you cannot deduct them even though you might be an owner of the house. 2) There are severe restrictions on an individua…
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I dont' know how it is in all localities, but here it is a __ step process.The county or state treasurer must declare the property taxes are in arrears. Then the property is listed in the sheriff's auction and anyone willing to pay the full back taxes then becomes the legal title holder. That has ha…
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Payment of delinquent property taxes are governed by state law. In general taxes due on property acquired by foreclosure are due at time of sale. Some states do have laws granting a grace period under specific circumstances. If the law required taxes to be paid at the time of sale, and they weren't,…
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Not if they have Right-of-way conveyed to utilities. This would include water, sewer, cableTV, telephone, electric, gas.Check your property deed. It will tell you what right of ways there are. You should also have ampa with your deed and it will show where the ROW actually runs - usually at the edge…
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No. The only taxes they advocated were on profits made in the course of business. This is why many people are against Federal Income taxes, claiming that no law has ever been passed to authorise such taxes. Actually, there is ample evidence that the Founding Fathers believed in a variety of taxation…
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Answer To tell you the $ value of your house Actually it is the Home Owners Insurance company looking for the value of the home. Unless he was solicited by you. * If the homeowner has not requested an appraisal or made an insurance claim it is most likely a representative from the county assessor'…
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You do. You were in possession of the car. The car was registered to you. Until the car is sold, you are legally and financially responsible for it.
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Answer For the property you sold, you may have property taxes you already paid that year before the sale. Additionally, you will give the buyer a credit for property taxes accrued up to the date of the sale. Deduct both of these amounts. For the property you purchased, you may pay property taxes…
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Yes it is. If one spouse dies the house/property will automatically go to the living spouse according to the Will. If you don't have a Will please have one drawn up. If you aren't leaving money to children, then keep it simple and just leave everything to the surviving spouse. Here is another thoug…
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You may need to contact a lawyer for that one. It may involve buying out the interest of the offending party. Whatever you do, get it all in writing and make sure you have all of the documentation proper.In order to protect the property from being in default for nonpayment of taxes the other owners …
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The state's court of equity or the state court which handles such proceedings over clearing property titles under such circumstances.Contacting the land recorder's or assessor's office in the county in which the property is located will help obtain the information needed.
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So? What is the problem here to discuss. Do one of you get half price on taxes? I never heard of this situation. Put the property in the exempt persons name.
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G/L = (amount sold (for underlying security) - amount paid (for underlying security))+ premium paidThere are commercial tools available to help you with covered call trade selection and covered call portfolio management. They will also perform the profit/loss calculations. See www.borntosell.com as …
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Answer Austin, TX in Travis County property tax rate = 2.74230% as of 2005. I could not locate a more recent figure, maybe someone can. For a more in depth look at how this is broken down, please check the "Austin TX Property Tax" link to your right. .............................................. …
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homestead I think he can only claim homestead if his name is on the mortgage, he is considered a renter and you therefore are getting the homestead rebate, so you can offer him part of that rebate. your tax rate is decreased by the homstead rebate, and there is only one rebate on one home/ Answ…
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If you're in the Long Island area, you can file for a property tax grievance with the Heller & Clausen Grievance Group at GrieveOurTaxes.com. It only takes a few minutes and you can apply directly online.
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Answer One of the reasons other than the obvious safety issues for getting a permit during renovation is to make sure the assessor reflects the value of the home. And you pay more tax. It is more important to ensure that your home is valued properly, not by an assessor who represents the city an…
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Answer Quite frankly, it would depend on where you live. My advice to you would be to visit the city or town hall and ask them for their advice. Chances are that you or your neighbour will have to hire someone to survey the land to prove who owns the land the fence currently sits on. Answ…
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Answer Almost every answer in the law section should begin with "It depends on what state you are in," and this one is no different. Most states (or counties) do not automatically reassess property values when property is transferred. Actually, most counties only have the resources to perform an…
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Your likely mis-phrasing what your asking.Property taxes, like virtually all taxes, are payable to a government entity. If you don't pay them their is a specific, rather unyielding process, the Jurisdicition must go through to get what they are due. While it varies by location, generally tThat entai…
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It is a general assessment for the purpose of taxation and has nothing to do with the epecific assessment.The assessor values a property every year on the taxable status date and attributes a value onto the property which is called the assessment. The general assessment is the assessments for the en…
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TAXES in CHAPTER 7sorry to tell you , but in Texas property taxes can not be discharged in any bankruptcy.As laws change every year it would be best to check with the city you live in
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Answer Below is the most direct answer. However, as it doesn't bring the result many desire...I suggest that you find if your situation can utilize Section 1031 - known as "Like Kind Exchange" or LKE - which defers the gain on the investment until another sale. It is a complex and speciali…
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You go to jail
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Answer Do you mean bidder down? if that is the case it means the next highest bid. Answer There are 5 types of bidding systems when bidding on tax liens... 1) Bid Down the Interest - means that the state sets a maximum interest rate for bidders at the auction, but bidders may bid a lower …
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The term taxes is frequently applied a bit broadly here. Many of the things that some consider taxes are actually probably better classed as fee's.Certainly you have the taxes on the gain or loss of a capital asset income tax purposes, on the Federal & State levels as applicable.All Property tax…
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Headley Limits Michigan Property Taxes The Headley Amendment is a Michigan State Law that limits, by a percentage, the allowable annual increase in certain property taxes on (certain) real estate.
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Answer Meaning if you are part owner of property, and the other party pass away first. Will you have to pay inherited tax on their part, to be full owner of it? I may be wrong about this, but as long as the other party did not leave their part to someone else in a will. I think that you would b…
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In 1798 Congress enacted the Federal Property Tax to pay for the expansion of the Army and Navy in the event of possible war with France. In the same year, John Fries began what is referred to as the "Fries Rebellion," in opposition to the new tax. No one was injured or killed in the insurrection an…
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Answer: 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. See Relate…
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In Massachusetts, as in many states, the recorder in the land records has no interest in whether property taxes are owed. Their only obligation is to take the deed in and make it part of the public record informing the world that the property has a new owner. Before a buyer records a deed, their att…
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Answer Typically your local tax assessor is not in the habit of reducing your assessed value, which ultimately would reduce your tax amount. It is important to see what your local government has for a property description, mistakes often happen. Almost 70% of homes in America are overassessed. Th…
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Some counties have what are called tax lien sales, where you are essentially buying the lien, or unpaid tax. If the person who owes the tax for that property fails to pay within a certain time frame, you get to keep the house. www.FreeAndClearHomes.net has houses 80% below market value which are ava…
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Like anything else, you apply the appropriate amount on the appropriate schedule when you file your tax return.There are four types of deductible nonbusiness taxes: State, local and foreign income taxes; Real estate taxes; Personal property taxes; and State and local sales taxes.To be deductible, th…
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GAAP requires that refunds that are adjustments of amounts previously paid be credited to the expense account where the original purchase was posted.
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In the US, taxation is generally taught as part of accounting curiculum in college.There are also personal tax courses put on by various storefront tax preparation firms for people who want to learn tax preparation. Without an understanding of accounting, however, one would be able to prepare only f…
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Property Taxes are generally imposed by your county. So I would call the County, usually it's the County Assessor.
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Answer It doesn't matter. Lots of landlords have tenents pay taxes as part of rent, it in no way constitutes any form of ownership, or vested interest in the property, without a contract stating it does, you have no rights to the land. Stop paying and the town can take it, maybe you can pick it up …
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In theory, all owners of the property are responsible for the property tax and it is up to them to agree how to divide the obligation among themselves. The tax authorities will post a tax lien on the property (regardless of who owns it) if the taxes are not paid, and attempt to notify the last known…
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The railroad, unless they deed it over to someone else.  ClarificationIt sometimes requires extensive research in the 1800s to determine who owns an old railroad right of way. When railroads were first constructed there were different ways by which the railroad acquired their rights in the lan…
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In some cases, yes, you can, but it depends on whether the bank, county, state or whoever is selling it has other criteria on the purchase. Probably will be some fees along with the back taxes and don't forget, even though someone has "lost" their property because they haven't paid their taxes, they…
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Great Britain enforced the payment of taxes under the Stamp Act and other taxing acts, by appointing tax collectors
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The seller is responsible for all property taxes assessed for the period through the date of sale. The buyer is responsible for all property taxes thereafter. Remember in most states that property tax is paid in arrears which means you are paying for a time period of 3-6 months prior to the current …
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Georgia has personal property taxes. These are only applicable to personal properties valued more than $7,500. Personal properties valued at $7,500 or less are not billed or entered on the tax digest.
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regardless the house goes into foreclosure, you are still responsible for any unpaid taxes and you are also responsible for any liens.Once the foreclosure sale has taken place you are no longer responsible for the taxes. In most if not all jurisdictions the property taxes run with the land.
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Depending upon where you live, you may have, among others: sales and use taxes income taxes excise taxes business taxes property taxes residency taxesi am in grade 5 and i want to know what type of taxes are therei need to find out for a project
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Hi,Unless your recorder's office has 100% up-to-date, real time recording, you can't. Many recorders/county clerks offices have delayed recording from the date the information is recorded to when it is filed. Also, many municipalities (often where property tax liens are recorded) do not offer onlin…
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When you rent an apartment the property taxes that are imposed on the property is billed to the owner of the property. The tax may be part of the total that you pay for rent.
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Yes and no. Yes in the fact that both are non-profit organizations, however churches are classified as a 501(c)(3) for which there are political restrictions upon things they can do (like supporting or donating to candidates, or even comparing candidates.) While unions are under 501(c)(5) which does…
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I'm looking at MLS listings in Ococee and Windermere, just outside Orlando, in Orange county. I'm looking at homes priced just under $300,000. The listed taxes are running $5,000 to $7,000 per year, to me that is very high. I'm not sure what these homes are taxed accessed at but due to all the forec…
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Do what their clients request since the broker works for the seller. Although, the broker should also inform the seller that their house may sit longer on the market than comparable houses in the market and if an offer is received it could be far less than the asking price and closer to the market v…
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Without looking it up, I would say you need to have been the one paying the taxes, or the successor of such a person. If nobody has paid the tax, then the owners of record would have less reason to know anyone is about to claim adverse possession. It's pretty hard to justify seven years of failing …
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Like any other tax, property tax is a way to raise money to run the government and provide services to the public. Like income taxes, it ensures that the rich, who own more property and who have property in more expensive locations, will pay more. The poor, who own little property, and who own it i…
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Depends and varies entirely by the taxing jurisdiction and the law/process used to allow the tax. Most substantial ones have some type of payment option. What you need to look for in purchasing property is: Sometimes these taxes are a large amount, especially if part of an improvement project (like…
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you can do it via the internet but you can't put it in your car until you actually have it.
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Property that is confiscated for the non payment of taxes usually gets sold at auction. Check your local paper to find out when your town holds their auctions.
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If the property is in the estate, the estate is responsible for them. You are entitled to be reimbursed if you have paid them for the estate. Submit your claim to the executor.
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Paying the taxes alone, no. If others are named on the deed, you'll need to work with them, period. All named individuals own the property equally. The court doesn't care who pays the taxes as long as they're being paid. Stop paying the taxes, and all of you risk losing the property.
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To request a copy of your Brookhaven, New York tax bill, you need to contact the Office of the Receiver of Taxes. The contact phone number is 631-451-9009.
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tax is important sources of government. it meet all the expenss of human wellfare, developments so it chareged or levied by individual, HUF, fir and companies earning incomes or profit.Answer:Every individual who earns an income in India is entitled to pay Tax on the Income earned by him during that…
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tax on real estate or personal property
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No, most of the time. The entity who pays real estate taxes which accrues to property, regardless of the ownership period, is generally established by agreement between the parties.Most of the time, real estate, ad valorum taxes are pro-rated. That is, the taxes due, are divided by the length of the…
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Yes items like this are deductible. You must prove the "fair market value" of it at the time and condition you gave it in (FMV is basically the amount you would get if you went to sell them on the current market)....think like this...the amount the thrift shop you give it to is likely to get for it…
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There are a number of properties that a wick should have. A wick should burn but very slowly for example.
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It depends on whether or not they have already been paid. Some sellers request a partial refund for any taxes already paid. Others will pay them for you. Just depends on what the seller wants to do really.
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The only valid answer is "It Depends". Sorry, there are multiple factors, e.g. School District, MUD, County, etc... (Katy TX is split by three counties, two school districts and various MUD districts. To get a specific answer, you will need to begin providing more information, e.g. neighborhood, st…
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The Trust does and it becomes a deduction on the Trust's tax return.
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If you dig deep into the causes of our Revolution, you will discover that the primary cause was tax slavery. Our Founders said so time and time again. They called British taxes the "badge of slavery," and they weren't exaggerating or blowing off steam. When the Sons of Liberty (an underground organi…
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Churches in Florida are exempt from paying intangible tax but not documentary stamp taxes. The state, county, and municipalities are exempt from the documentary stamp tax.
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According to the Michigan Tax Office, you ALWAYS have to file even if you don't owe any taxes or have money coming back to you. The form must be filed to document the situation.
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Because it is important.Capital expenditure = non-deductibleRevenue expenditure = deductible
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No. This should be treated as a capital gain/loss. If you bought the land for $20,000 and sold it for $17,000 you do not have any income or a gain. On the contrary, you have a $3,000 capital loss which can be used to offset some of your income and decrease your taxes.
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Capital gains tax is a tax on capital gains if when you sell or give away an asset it has increased in value you may be taxable on the gain this doesnt apply when you sell personal belongings worth six thousand pounds or lesss nor will you have to pay capital gains taxwhen you sell your main home pr…
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The school system is funded by the federal government. And the federal government gets money from our taxes Most school systems rely on taxes for most of their funding (mostly property taxes) and for funds supplied by the state government.
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4 dollars per hour in the corroded peice of crap
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On property taxes, a Class CD abbreviation typically stands for multi asset. It means a combination of asset classes (such as cash, equity or bonds) used as an investment.
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Answer:If you pay someone's property taxes you would be considered a volunteer. That wouldn't give you any fee interest in the property.Occasionally, tax authorities will put a property with seriously delinquent tax payments up for sale and then you could buy the property for the cost of taxes. Cont…
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STAR isn't considered income. STAR is School Tax Relief program. It includes a school property tax rebate program and a partial property tax exemption from school taxes. You apply for the exemption through your local assessor's office. For more information, go to the website of the State of New Yor…
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You should check with the attorney who is handling the estate for the procedure in your particular jurisdiction. Generally, The administrator may file a claim against the estate and file the tax bill with proof of payment. They should be reimbursed from the estate before any proceeds or assets are d…
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Form 1098 (Mortgage Interest Statement) gives the total amount that you paid in mortgage interest on your property. If you lived there for part of the year and then rented it, you need to allocate the amount to two different forms. Nine months is three-fourths of the year. So you enter 75 percent of…
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taxes increase as the debt cieling increases to keep the american government in order and slow the "digging our own hole to fall in".
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They are independent properties and there should be no effect on taxes on the primary residence as long as it continues to meet the requirements for a primary residence.
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property taxes, lawsuits, senior liens (that were recorded prior to the foreclosing mortgage) such as mortgages, attachments, executions, income tax liens, probate problems
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It depends on many things. The type of tax, sometimes the amount and reason for owing, and what has happened over the time. Having heard the question too many times before, and understanding some of the misconceptions: The SOL almost never even starts to run until something that qualifies as a retu…
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The property tax rates are set in each town. You would need to contact the town in which you are interested.
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It depends where you are. Some form of central or local government.
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