0
real estate taxes collected by a lender or other agent acting to establish a real estate tax escrow can be refunded if overage exists. Overage would be the difference between the real estate taxes due plus any agreed upon buffer less the actual property taxes paid. Some lenders require that a buffer of so many dollars or some many months in taxes be set aside. But even this set aside would be credited to the seller in the event that the property is sold and the mortgage satisfied thereby doing away with the need for an escrow account. Lenders don't levy taxes, only municipalities or taxing district can "levy taxes." If you appeal your real estate assessment to an appeal board you can send a copy of the decision to your lender and ask that the property tax escrow be readjusted or recalculated using the revised assessment for tax purposes.
What else can I help you with?
What type of tax is levied on the entire estate of a person?
Estate taxes are levied on the entire estate of a person.
What type of tax is levied directly on the entire estate of a person?
Estate taxes are levied on the entire estate of a person.
What type of taxes Levied directly on the entire estate of a person?
Estate taxes are levied on the entire estate of a person.
What type of tax is levied on the benificiarys share of an estate?
Inheritance tax (or estate tax) is levied on the beneficiaries shares of an estate. It is assessed on the total value of a deceased person's money and property and is paid out of the decedent's assets.
What type of tax is levied on the beneficiary share of an estate?
The type of tax that is levied on the beneficiary share of an estate is known as inheritance tax. This will be assessed based on the legacies the beneficiary receives.
What type of tax is levied on the beneficiary's share of an estate?
inheritance
What type of tax levied on the beneficiary share of an estate?
inheritance
If you have a judgment against you and you die do the judgment disappear?
No, it is levied against your estate.
What is a tax levied on any asset inherited?
The tax levied on inheritances is an inheritance tax, and an estate tax can also be involved... it is levied on the assets of the deceased rather than the legacy of the inheritors.
What is tax levied on any asset inherited?
The tax levied on inheritances is an inheritance tax, and an estate tax can also be involved... it is levied on the assets of the deceased rather than the legacy of the inheritors.
What is the difference between real estate tax and estate tax?
Real estate tax is tax that is levied on buildingsor other real estate that you possess, be it your own home, a holiday cottage, land or an office building.Estate tax is tax levied on the net worth of all your possessions. The term 'estate' is most commonly used to describe the possessions of someone who has died.
What type of tax is levied on the beneficiary and share of an estate?
The tax levied on the beneficiary and share of an estate is typically referred to as an inheritance tax. This tax is imposed on the value of the property or assets received by the beneficiary from the deceased. In some jurisdictions, the estate itself may be subject to an estate tax before distribution to the beneficiaries. The specifics can vary significantly based on local laws and regulations.
