Is property tax a fair tax?
It does not seem unreasonable that people who own property should contribute toward municipal expenses. Of course, we can still question exactly how much tax is an appropriate level, or what kinds of municipal spending is appropriate, and whether we should have a more inclusive tax instead, that taxes everyone equally whether they own property or not. All political issues (much like religious issues) are endlessly debatable and are endlessly debated.
1 person found this useful
With help from a qualified CPA or Attorney it is possible to get the lien lifted in order to refinance or sell. However this is a process you should get help with to accomplish.
The flat tax keeps keeps the current payroll taxes in place, but it taxes everyone the same rate. The FairTax replaces all federal income and payroll taxes with a 23% inclusive consumption tax on all new goods and services. It includes a monthly prebate on spending up to the poverty level. This tax …would replace all federal income and payroll taxes and dismantle the IRS. Companion legislation would call for the repeal of the 16th ammendment, which legalized the income tax. . Correction: the 23-30% tax already exists in the current tax system as embedded taxes. Under the fairtax, those embedded taxes are eliminated, and replaced with a single consumption tax. Thus the prices actually lower, and the end result is a stabilization of prices at or near current prices. Another factor of the fairtax, is the requirement to repeal the 16th amendment. This would eliminate those embedded taxes, and the double taxation scenario found in Europe's tax system. ( Full Answer )
When you rent an apartment the property taxes that are imposed onthe property is billed to the owner of the property. The tax may bepart of the total that you pay for rent.
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… in less expensive places, pay less. ( Full Answer )
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.
The latin translation for property is rÃ©s mancipi bona if the property is belongings or praediÃºm res if the property is an estate or res familiaris if it is private property.
type of taxes , when/how is this applied, how to calculate this. Property taxes are taxes imposed by the cities in your state, income tax is imposed by the Internal revenue Service, where the amount is cintigent upon your income
First try city hall assessor's or city clerk's office, or the website of the state you live in, which is generally www. Name Of State. com" like www.ca.com, www.mass.com, www.Delaware.com. Ususally the revenue or tax section of the site will give you the names and numbers of those in office who will… be able to help you, or at least tell you what your options are. There are also several services for hire dealing in all manners of 'tax relief' who carge various amounts for their services. ( Full Answer )
Property taxes are not in your records so you dont have to worry about them, if your home goes to foreclosure and bank that owns the house will have to pay those taxes if thy want to sell the home in the future, property taxes will be in the house records not yours. ans . The above is one opinion.…..likely not to be found any place else.. Property taxes, while of record against the property you own, are the owner of the properties obligation.. Taxes, including property taxes, are, like all debts and all assets, whether recorded somewhere or not, included in BK and as such will be handled as a pre-petition liability. They will be settled, albeit frequently paid in full because of their position in BK prorities, but also depending on the assets you have to settle other items.. (BTW, if you were to maintain accounting records - say like a business, your property tax accrued liability would in fact be recorded there, like any other debt/payable).. If your mortgage is in fact foreclosed, the taxes will not be part of the debt the bank or successful bidder needs to be concerned with as they will be settled by the bankruptcy estate. ( Full Answer )
It is property "seized" by the government for non-payment of taxes or in satisfaction of a tax lien. It can either be converted to government use or sold at auction to raise revenue.
In the case of foreclosure AND unpaid property taxes - the government gets first claim for the unpaid tax bill. Then the creditor gets what's left.. OK the taxes has gone to a lawyer and is not in forclosure yet how long do I have before I have to get out.. You should (ought to) receive a 'Notice …of Eviction' at least a few days before the actual eviction itself takes place (where they empty your household items onto the curb). Much depends upon your area of the country and how bad the situation is where you live - the lender themselves - the backlog of evictions being filed in court - etc - etc). Too many variables for a definite answer. ( Full Answer )
A propertytax (or millage tax ) is a levy on property thatthe owner is required to pay. The tax is levied by thegoverning authority of the jurisdiction in which the property is located; it may be paid to a nationalgovernment, a federated state, a county or geographical region, ora municipali…ty.. ( Full Answer )
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. ( Full Answer )
Anyone's opinion on the fact that Gov. Scott Walker wants to raise sales tax in order to pay for the loss of revenue in lowering property taxes?
There are programs and books with state-by-state guides on where to find tax lien properties and sales. Visit the link below for the website, Tax Sale/Lien Reviews, to learn about these helpful resources.
A real propert tax is a levy on property that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a federated state, a county/geographical region, or a municipality Multiple jurisdic…tions may tax the same property. ( Full Answer )
Property taxes fund city government, pay salaries of city employees, fund all the municipal services the city must provide such as police, firefighters, trash collection, snow plowing, and community outreach programs. Property taxes provide funds for maintenance, repair and improvement of roads, bui…ldings, parks, municipal arenas, community centers, senior centers, youth centers, civic centers, athletic fields, museums and shelters. Property taxes fund the public school systems. ( Full Answer )
Personally i think not and is going up i can t eve buy a pair of heals with out paying $20.00 dollars of tax. its so unfair honestly were does it go to? well that's my point of view.
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!
It's county property tax assessed based on the home's value sometimes called a "mill rate". You can find this information by calling your county tax assessor or looking it up online at your county assessor's web page.
a tax is fair is the persons who is being taxed have representitves in Parliament.
Yes, the title company that issues tolved in anything to do with that house & property have beeen pfoaid) the lien against the property will keep a seller from selling it with "Clear title " however the seller could sell it for a lesser amount i.e there is a 5K lien on it so the seller sels it to a …person for 5K less than its worth . lenders will not lend on property with claims against title. but a seller financed property could easily have a lien against it. Answer/Clarification The question should be, "Should a property with a tax lien be sold?" The answer is no. The purpose of a tax lien is to notify the world that the town, state or federal government has an interest in the property for unpaid taxes that must be paid before the property is transferred to a new owner. The liens create a legal interest in the property; a claim that affects the title. The seller is obligated to see that the lien gets paid before the property is transferred to a new owner. The buyer is obligated to see that the lien gets paid from the proceeds they hand over to the seller. Again, the purpose of the lien is to notify the public of the obligation. In the normal course of real estate transfers a seller doesn't reduce the selling price by $5,000 if there's a $5,000 tax lien on the property, he pays the lien off with the $5,000. Besides that, the amount of the lien may have grown. The first answer is from a victim of the modern misconception that IF I can do it then it's okay to do it. Or, they are involved with the darker side of real estate transactions that rely on the quick "flips" by people who ignore the rules and brought the world economy to its knees. In the case outlined in the first answer, the buyer would be misinformed. While it is technically possible to transfer property with tax liens via a cash sale (there is no local, state or federal police officer monitoring your actions), the buyer would find themselves in trouble. Especially if they tried to sell the property before the liens are paid. Tax liens grow with interests and costs added. At any legitimate closing the buyer's attorney will contact the lienholder to determine the final payoff amount of the lien, especially with a cash deal. That is the purpose of a title examination performed by a professional. Where there is one tax lien there are usually more and you could be dealing with what we call a "deadbeat" in the industry. Any and all liens will travel with the property and will grow. The buyer of a property with unpaid tax liens may find they owe more than the property is worth. In addition, some government official may come knocking to ask why they turned cash over to a seller whose property was subject to recorded tax liens. The buyer would be left "holding the bag". ( Full Answer )
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.
They can be if the city is an independent taxing authority as they are in Virginia. State tax laws vary on property taxing authorities and taxing districts. A recent property tax bill or a call to your local tax assessor or tax collector can clarify what taxing authorities levy property taxes on a s…pecific property. Many communities have property tax information on their websites. Local real estate professionals may also able to provide you with this information. ( Full Answer )
It depends on the tax laws in the state where your property is located. Many states in the United States have property tax abatement, deferral, and exemption programs for disabled persons and senior citizens that qualify for tax relief programs. In the State of Virginia, for example, you must be per…manently disabled and qualify by not exceeding with certain household income and personal assets limitations. Your local tax assessor or tax collector should be able to provide you with information about any programs available. ( Full Answer )
Yes. New Zealand currently has no property taxes, but the government has been considering introducing it.
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. ( Full Answer )
It helps the government get out of debt a little bit if you live in California. It can help the war in the middle east. It can help your community build new buildings and pay for new schools and new roads.
You can find property tax information from your local tax assessor, treasurer or auditor. Some tax authorities publish property tax and assessment records online.
A property tax (or millage tax) is levied on the value of property, an ad valorem tax that the owner is required to pay. It is a direct tax.
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. ( Full Answer )
Cities and Counties use property tax sales to collect delinquent property taxes. About 4% of property taxes are delinquent each year and this is the method the taxing authorities use to collect the taxes. There are two types of sales, tax lien sales, where they sell a lien on the property to an inve…stor (who will earn a very attractive interest rate and get the property if they are not paid back), and tax deed sales where the taxing jurisdiction sells the property outright. To learn more about tax sales go to the related link. ( Full Answer )
Appeal property taxes is the act of arguing that your property is not worth nearly as much as it is made out to be. The higher the value of your property, the more taxes you will pay, which is why some people appeal this value estimate.
If you own a property and if you feel that your property is overtaxed. Then the best way is property tax appeal. You can even hire a Property tax lawyer who can help you to reduce your property taxes.
Yes, Simply because almost everything now a days is taxed, school things, pets, homes, cars, food, toys etc. Its just the governments way of making more and more money each day. .
In the United States and Canada the local property tax is based on the estimated value of the property being assessed. It is often called an "ad valorem tax", which is a Latin term meaning according to value. Local assessors are charged the responsibility of inventorying and estimating the value of …all personal property (non-real estate) or real estate (land and buildings attached to land) in their community. State or provincial tax laws usually define the type of value estimated (market value, use value, etc.) and the specific date when it is estimated for property tax purposes. For example, in Virginia real estate assessments are estimated as of January 1 or July 1 each year as described by local ordinance. Some types of property are exempt for taxation like government-owned property, and property of religious organizations. ( Full Answer )
all of it or they will sell your taxes and you will be out on the street
While you can't lower your property tax directly , every taxing district in the U.S. and Canada has a property tax appeal process where the assessed value may be lowered. A lower assessment means a lower tax bill. Mathematically the assessed value is multiplied by the tax rate set by the taxing dis…trict to equal the tax amount. There are specific times when new assessments can be appealed, so check with your local assessor about when new assessments are issued and the deadline for filing appeals. ( Full Answer )
property tax is considered as direct tax effect of property tax directly falls to the owner.
because the colonist owedthe money to the british because thebritish gave them a free life with no taxes and free food
Both poor and rich had the same taxes, and the poor were getting more poor.
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. ( Full Answer )
Taxes in general are levied to pay for operations of the government. Some taxes are "earmarked" for certain purposes, gas taxes for transportation programs, etc. The power to tax is one of government's major ways to generate the revenue it needs to operate.
Retirement doesn't qualify you for a property tax abatement, but your age may. Some state in the United States, but not all, have tax relief programs for senior citizens. They typically have an age requirement (say 65 and over) and the tax savings may depend on your household income and assets. Ask …about local assessor about tax relief programs for situation. Each state has different tax laws and some states allow localities to customize their tax relief programs. Local assessors are usually very helpful. ( Full Answer )
Visit your local tax assessor's office and inquire there. They should have a listing of tax title properties and may have an auction scheduled. Visit your local tax assessor's office and inquire there. They should have a listing of tax title properties and may have an auction scheduled. Visit your… local tax assessor's office and inquire there. They should have a listing of tax title properties and may have an auction scheduled. Visit your local tax assessor's office and inquire there. They should have a listing of tax title properties and may have an auction scheduled. ( Full Answer )
Property taxes in all states depend on the size of the property and its location. In Ohio homes have property taxes in the 1.5 - 2.5 % range of the purchase price. Ohio also has city wage taxes generally in the 2% to 3% range.
In France, tax is assessed on the net wealth according to a progressive rate from 0.55% to 1.8%. The French government estimates the value of the annual rent the property could generate, and then charges the owner 20%, whether or not is it actually rented.
Please provide more information/context/clarification to help usanswer this question. You can post your response in this answertext by clicking "Edit."
It is a tax levied on ownership of property by the government. Itprovides income to the government.
Property taxes are taxes on the value of owned property. Sometimes they are classified as either specific or ad. PropertySpecific taxes are of a fixed amount based on a number, or standardof weight or measurement. Ad property taxes are based on a fixedproportion of the value of the property with re…spect to which thetax is assessed. ( Full Answer )