What is the consequences of not paying California property tax?
If an owner of property does not pay their property taxes then the town has the power to take possession of the property and sell it under state laws.
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Could Go Either Way . I believe that could go either way and should be part of the contract.
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 curre…nt date. On a HUD 1 closing statement those time periods and costs are clearly shown. (MORE)
Answer . The buyer does because it is supplementation of difference of the taxes charged from the old price of the house to the new price of the house which was paid by the buyer.
Illegal immigrants are not paying taxes because they think they dont need to,also because they are ILLEGAL immigrants so they dont what people to find out that they are illegal immigrants!
Property taxes are normally used to fund the services in the area, such as police, fire department, roads (and plowing them!) and local library. Some portion of the taxes are used to fund the school system. If you are getting it for free, it is normally being paid for through property taxes.
The answer technically is "NO" because the owner of the house pays the taxes. However, if it is stated in the lease that the renter signs, and the owner charges the property taxes, the answer would be yes. But, technically the owner legally pays property taxes on their home. If a renter signs a leas…e with this worded as such, the owner is scamming you and your rent will be higher than it should be. Do not sign it! (MORE)
The IRS will find you out in 3-7 years. They will garnish your wages, assets, tax returns with high penalties that will take a very long time to repay. Once the IRS learns of you frauding the government, it will take a very long time to get them to leave you alone. More than likely, your employers w…ill receive notification to begin garnishments. It gets messy. Just pay your taxes. (MORE)
\nAnswer:\n. \nThe municipality can record a Tax Taking against your property and eventually take ownership through a court decree for non-payment of taxes.
Property taxes are the responsibility of the owner. Unless there is a clause in the lease saying otherwise, the renter/leasor is not obligated to pay them. The government will place a lien on the property.
Payment of property taxes in arrears means that the taxes are actually assessed, or considered payable and due, when the year that they cover is past or almost over. An example of this is if your taxes are due/payable in October but the taxes are for the period of January to December of the same y…ear. (MORE)
A condominium is a home; it exists on real property; most condominium owners pay property tax. You can check with your local county or provincial assessor to find the answer you want.
it depends on the price of the home you purchase. the less the appraised value is, the less you pay in taxes. the higher the more money spent on taxes. its safe to say about 1.25% of your home purchase price is due annually. for example a 169k home purchased would be 2112 bucks per year. payable in …2x payments or one lump sum. of course you can save in installmenst and set aside for the lump payment ;) (MORE)
Not directly. The owner of the property is responsible for paying the property taxes . However, you should understand that how much rent you pay is determined, in part, by how much property tax the owner pays. In other words, the owner needs to charge enough rent to cover his costs (taxes, maintena…nce, insurance, mortgage payments, etc.). Otherwise, he is losing money on the property. (MORE)
In many, if not most areas, you don't. Generally, personal property taxes are not that major a part of a States revenue policy.. Someplaces they are though...like in Connecticut..personal property tax is State law but really the method that was used for Towns/Cities to raise funds....cars, boats, e…ven the trailer for the boat (heck even the winch on the trailer), were all taxable and paid to the town.. However, until recently, CT had no State income tax, and even now, it is a rather restricted one. Most "normal" household type property is exempt and on the other ahnd, virtually all Business personal property is taxable...so it still acts to shift tax obligation to business in an area and to individuals that may have lost of expensive toys.. Fact is, if they didn't have you pay this tax, then you would pay more of another - Real Estate, sales, income, taxes, etc. (MORE)
Yes, you pay property taxes in Oregon. Although, due to measure 50, you pay on the assessed value of the home, not necessarily the RMV. Measure 50 was passed in May 1997, to balance out tax increases due to rising property values. This measure made it so that they could only increase the assessed… value 3 % above the previous year's assessed value. On the 1997-98 property taxes they made the assessed value rollback to the 1995-96 assessed values minus 10%. Oregon can increase the property tax only by 3% each year. Exceptions to this include remodels costing more than 10%, new construction, etc. So in my case, we live in an older home that hasn't had more than $10,000 in remodeling done. Our RMV was 186,443 last year and 159,356 the previous year. Our taxes will not go down. Why, because our AV was only 84,317 and is no where near our RMV yet. This happened because of the housing boom over the last few years. The AV value really benefited us in the past years when our RMV was rising over $50,000 a year. Now, if for some reason next year the RMV went down to $80,000 then yes our taxes would go down. Our AV would reset to $80,000. I'd rather be paying an increase of 3% than a 50% increase. We probably would have lost our home. Keep in mind though that you can have more than a 3% increase if you live in an urban renewal district like we do or you pass local bond levies. (MORE)
The property tax in California can vary from year to year. However, to calculate the California property tax for one's home is quite simple. The tax can not exceed more than 1% of the home's value and can not increase more than 2% from the previous year.
In the state of Florida if you own land, that is your name appears on the title, you must pay taxes each and every year to the County tax collectors office in which the land is located. If you do not pay the taxes the tax collector will put the delinquent tax up for sale, at their annual Tax Certi…ficate sale, to the public for purchase at a maximum of 18% interest rate of return. This sale is normally conducted between May and July following the year of the delinquent tax. The investor who pay the taxes will receive a Tax Certificate proving he or she has a lien on your property (land). If you fail to pay the lien holder along with interest in approximately one and a half year that person is eligible to file or apply for a Tax Deed to the land. At which time a public auctin will be held at the County Court House, if no one else show up to bid other than the Tax Certificate Holder, then he or she gets the land after paying for the back taxes and court cost which often time are just pennies on the dollar. The bottom line is the state / county want's the tax owe to be paid by any means necessary. ans The above is a great explanation...and of course all governments want the tax they need to collect, collected somehow. The method of assuring collection there is similar to many in other States. I would note that the Florida tax system...not having any real income or inheritance taxes, relies on property and sales taxes more than others. (MORE)
Generally speaking, yes. In the U.S. at least, most, if not every city and/or county assess property taxes and you have to pay the local required property tax on any property you own. Typically the only consideration with vacation property is that it may not qualify for a homestead exemption in so…me states in the U.S. In most states, in order to qualify for a homestead exemption that lowers the assessed value and/or real estate tax rate you must own and occupy your property. Check with a local assessor in the state you are considering because the definition of "occupied" or "permanent residence" can vary from state to sate. (MORE)
If you are an individual taxpayer, add together all of the property tax payments you actually made during the calendar year and enter the total on federal Schedule A on the line that says "Real Estate Taxes." Include only payments you actually made during the year. If you make a payment late, deduct… it in the year you paid it, not in the year it was due. (MORE)
Property taxes are a matter of local law and each locality makes its own law. Typically, it is two times a year, but in some parts of the country it could be once or four times a year.
The person or entity that "owns" the property is responsible for the property taxes. If you have a mortage on your property you usually have the option of having a certain amount of your monthly payment put into an escrow account. The money is set aside by the mortage holder to pay the property ta…xes and sometimes even homeowners insurance. Most mortages are set up this way to avoid the bank ending up in a leagl war with city and state entities over what happens to a property when taxes are not paid. The bank is making sure their investment is protected from a tax lien sale and all of the legal entanglements that are involved in that process. If your property is paid in full and you are the deed holder you are responsible for paying the bill. You will receive a tax bill and it will tell you how you can go about paying it. The payment options vary by state. If you think that the amount of tax you are paying is out of line for the property that you own then you can ask for a reassessment. This is not something to take lightly. If your property is reassesed they may find that your taxes are actually higher and then you are stuck with a whole new tax bill. Talk to your neighbors, if they are willing to share with you, you can get an idea of what the norm is for the area. Your taxes are based on the price that you paid for your property which may not necessarily be in line with the value of your property. Hoped this helped! (MORE)
Its all based on the city and county you live in. Contact the assessors office in your city and they will tell you exactly. You can reduce your tax assessed if your property value dropped in recent years. Do not over pay!
The owner of the property pays the tax on the income generated by the property. This is known as the "fruit of the tree doctrine."
Generally, if you pay someone's property tax bill you would be considered a volunteer. Paying the bill, in and of itself, does not give you any special authority. To acquire title to delinquent tax title property, the municipality must take possession of the property through a tax taking procedure a…nd then convey it to a new owner at a sale of tax title properties. You should speak to someone at the tax assessor's office. (MORE)
Do you have to pay taxes on property in Thailand as well as paying taxes on the same property in England?
If you live in the UK, you must declare rental income from overseas rental properties on the foreign pages of your tax return. If you pay foreign tax on the income, you can usually get credit for this against the UK tax you have to pay on it. You can expenses from overseas property letting incom…e as from UK property letting income, including travel costs. (MORE)
I own free and clear an older home (my Dad gifted it to me after my divorce 12 years ago. I have been renting it and the detached garage apt. for about 12 years. I live 6 hours away from it so I can't take care of it like I need to. I would like to sell it so I don' t have to stress myself out about… it. I can only get maybe 80,000 for it. Can you tell me how I can keep from paying so much in sales taxes on it? ans You are completely confused and exemplifying that you need specific, individual help with this, to both mitigate tax and avoid what could be substantial liabilities (tax, penalties, interest, etc). However, it is a basic and fundamental tax matter that does not require highly expert help. You ask about sales tax. There is no sales tax on the seller of real estate in any State I know of. Sales tax anywhere is imposed on the buyer (not the seller), and I am unaware of it being applied to real estate (especially residential). There may be some minor transfer type fee's or taxes similar to a sales tax, but those are normally not much of a consideration. Income tax - specifically long term capital gains, will be a matter to determine. The gains tax this year is modest (capped at 15%). So the year of the transfer may make a difference. The tax is ONLY on the gain in the sale. That means your basis - the value of the house when given to you (which may have had some tax consequences then), and the costs of owning and maintaining/improving the property as well as things like depreciation that was available to you as a tax beneffit every year you owned it, to determine what your "basis" is needs to be calculated. The difference to the amount you sell it for then becoming the Gain (OR Loss) and tax or tax benefit on that. In todays real estate word, selling investment real estate frequently produces a tax benefit. I suspect you have been in the Real Estate business, (owning and running rental property - JUST LIKE DONALD TRUMP) without reporting it as such and have lost many possible great benefits for years. One of the those common things people in the field see is that those who try and outsmart the tax rules, and really have not a blessed clue, tend to screw themselves much more than they make any benefits. (MORE)
Yes because the property becomes yours unless they have already payed for the property in full.
Hand deliver check, cash, money order and etc what ever your local tax property office will accept as a payment and give you a receipt for or you could mail the payment to the correct mailing address.
Usually the owner of the property is the one that pays the property taxes on the owners property. Some time the mortgage company will pay them from a escrow account but the money that is in the escrow account comes from the property owners monthly payments.
Yes, unless you qualify for elderly or senior citizen real estate tax relief provided by some states. Each state in the United States has different tax laws concerning elderly or senior citizen tax relief. Most have household income and asset ceilings that if you go over them, regardless of your age…, you do not qualify. Check with your local assessor or tax collector. (MORE)
Yes, Native Americans pay real and personal property taxes in the United States, unless there are specific state tax laws that exempt them from taxation. For example, in Nebraska the personal property that is owned by Native Americans who live within an Indian Reservation is tax exempt but real esta…te is not exempt whether located within an Indian Reservation or not. (MORE)
Typically community colleges do not pay property taxes because they are considered a political subdivision of the state under tax law provisions. Property tax laws vary by state within the United States so you are encouraged to check with your local property assessor.
No. In most sates in the United State religious organizations are exempt from real and personal property taxes. Each state has their own tax laws that describe which properties are tax exempt. Such laws are uniformly applied, that is all religious organizations that qualify for exemption (not just… the Catholic Church in this example) are therefore exempt. (MORE)
Under the property tax systems used in the United States, all companies pay real and personal property taxes unless they are expressly exempt from taxation by state tax laws. Property assessment and property tax abatement, deferrals, and exemptions vary by state in the United States. Some states pro…vide incentives to certain businesses and industries to local there through tax abatement for a specific time period if local jobs are created or retained. inc The form of ownership - that is a person, a corporation, a partnership, trust, etc. does not change the taxability of the property in anyway. EXCEPT some places provider breaks for things like elderly, veterans, disabled, etc. A company owning the same house as you do personally will pay the 4exact same tax as you. properties that are used by business for commercial uses, again indifferent to if owned by a person or a corporation, etc - generally pay higher taxes than a corresponding residential property. Again generally, farms and such pay lower. (MORE)
you dont HAVE to do anything if you dont want to, but there are consequences
Real estate taxes are charged to the owner of real estate not the renter. Indirectly the renter is paying for a portion of the real estate tax in the rental rate being charged by the owner. If your question concerns the renting of property that you own as a retired person, contact the local assessor… in your city or county, as the tax laws vary by state within the United States. (MORE)
Most states within the United States have provisions for deferral or exemption of property taxes for persons who qualify as being disabled. The qualifications vary by state, so you should contact your local tax assessor or tax collector to determine the requirements.
for the services of the city or township that you live in, such as schools, fire department, trash collection, police protection, road upkeep, etc.
Yes, in most states in the United States you will pay either a personal property tax or real property tax on a trailer (also known as mobile home or manufactured home). Each state defines what constitutes personal property or real property as the terms relate to mobile homes but typically a mobile h…ome that is permanently fixed to the site is considered real property. If you own land where a temporary mobile home has been placed you could receive a real property tax bill for the land and a personal property tax bill for the mobile home. (MORE)
What will happen is that eventually the government will sell your property at auction to recover the unpaid taxes.
Generally, religious organizations (churches, houses of worship, and homes occupied by ministers or other heads of churches) are exception from real and personal property taxes in the United States. Each state and the District of Columbia have there own tax laws that define what entities qualify for… tax exempt status. Your local assessor can tell you more about the specifics in your area. (MORE)
If you're the one renting it... indirectly, in that the owner will charge rent sufficient to cover expenses, including the property tax. If you're the owner... yes, directly.
Yes, you have to pay real estates property taxes for unfinished space, unless the property qualifies for tax exempt status. Real property is generally taxed based on its value. One of the approaches to estimate value used by many assessors is the income approach. In this approach the assessor consid…ers the rental rate that could be demanded by the property on the open market, either as furnished or unfurnished. Since there is no furniture you would not pay personal property taxes if the furniture was assessable in your city or county. (MORE)
When property taxes are not paid on time penalties and interest are applied. The penalty is usually a percentage amount for payments after the due date. For example, if real estate taxes have a 10% penalty for payments made after June 15, your property tax will be 10% higher if you pay it on June 16… or after. Interest is also applied to any amount unpaid after the due date. To continue with the earlier example, if I pay my real estate taxes on August 1 the original tax amount billed would have a penalty added for being paid after the June 15 due date and interest applied to the original billed amount at the uniform rate charged for nonpayment (usually as set annually by the tax ordinance for the taxing district). If you can't pay our property taxes ask your local assessor or tax collector to explain how penalties and interest are applied. (MORE)
Without taxes there wouldn't be a government. A government needs money to run. That cash flow comes from the government's citizens. With this money a government will build an army, schools, libraries, hospitals, and other public programs (There are two main different type of taxes in America, income… tax and sales tax). Without these programs the country would fall apart and into anarchy. This is why people shouldn't be too pessimistic about paying taxes because technically they will just come full circle and benefit you. (MORE)
In the United States, the owners of farm property paid property taxes. Some states have special provisions where the property being actively farmed (any dwelling and certain acreage size for the home is generally not included as farm use) is assigned a "use value" rather than a market value. For a f…arm near a larger city the difference between use value (as farm land) and market value (for example as sold for use as a subdivision for residential homes) could be substantial. Ask your local assessor about any special abatement for farm land. (MORE)
In most states in the United States veterans are required to pay property taxes, unless they qualify as a permanently disabled veteran. Some stated allow for the late payment of real estate taxes for active service in the armed forces (for example in Iraq) or returning troops. Ask your local assesso…r or tax collector for your state about how veterans can qualify. (MORE)
Typically the seller will, however in real estate anything is negotiable. The real estate broker or other person responsible for the closing estimates the annual real estate taxes for the subject property being sold. The seller is responsible for the real estate taxes from January 1 through the day …before closing. The buyer is responsible for real estate taxes as of the day of closing through the end of the year. Real estate taxes are generally estimated and prorated on a calendar year basis. At closing both the buyer and the seller receive a copy of the settlement sheet that, among other things, shows debts and credits for real estate taxes. If, at the end of the tax year, the estimated taxes were substantially inaccurate, the party that underpaid for their portion of the prorated year can be asked to contribute to the party that overpaid. (MORE)
As you may know already, Ancient Rome had a strict code of laws. Even in the small act of tax fraud. First, the criminal would be convicted of the crime and be sent for judgement in front of the Roman Council Men. In Rome you were innocent until proven guilty, but if you were found guilty you would …have your fingers chopped off from the knuckles. This was the consequence because the Rulers said quote," A man who cheats the government of money shall cheat himself of his cheating hands." (MORE)
It is a tax levied on ownership of property by the government. Itprovides income to the government.