Personal Finance and Money Stack Exchange
Personal Finance and Money Stack Exchange

Questions tagged [property-taxes]

109 questions
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If you have a home mortgage, why do you still have to pay all of the property tax?

If I have a home mortgage and have only paid off 20% of the principal, then the bank technically "owns" the remaining 80% of the home. So, why isn't the bank required to pay 80% of the property tax every year?
user3163495
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What would you do with a large land inheritance with high tax rate?

I just inherited a couple hundred acres of pristine woodland in New England. I'm a nature-lover, so my first impulse is to keep the land as-is, letting campers, trekkers, and wildlife just use it as they like. But the taxes are killing me. The taxes…
Teusz
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What is the purpose of property tax?

I currently rent, but have been looking to buy a home. I always imagined how great it would be to have a dream home, worth, say, $500K, and to have it fully paid off. My thought was the only recurring fee I would have to pay is for utilities to keep…
Kirk Ouimet
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Property tax on land where you discover you can't build anything on?

California has a 0.77% tax on real estate, including land. California also has passed a bill that prevents developers and land owners from building on or near earthquake fault lines which essentially could render some land useless. What happens with…
user389238
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If I pay someone else's property taxes, can I use it as a deduction on my income tax return?

I'm planning on paying the property taxes of a home my mother-in-law owns. She owns the house, but I live there. As part of the bargain, I agreed to pay the property taxes. If I write the check directly to the State/County, can I write it off on…
Dan Williams
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Who pays the property tax on a home for the year of sale?

I sold a condo on the 2nd of January this year, and I was a bit taken aback when I got a property tax assessment for that property from the county for this year (this was not a bill just an assessment of the value of the property). Who normally pays…
aceinthehole
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Should I cash out my Roth IRA to pay my mother's property tax debt, to avoid foreclosure on her home?

I'm thinking about liquidating my Roth IRA and taking a loan out against my 401k to pay the property taxes my cancer stricken mom owes on her home. She's several years behind, and the county is foreclosing on it soon. She has no savings besides…
foreverBroke
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Total fees for buying a house in the U.K.?

I'm thinking about buying a house in the UK (England). It will cost a max of £120,000 GBP. As an estimate, how much will all the fees total to, when put together? And apparently for houses less than £125,000, there is no stamp duty? Is this…
oshirowanen
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Mistaken identity error (I am dead) - property tax issue

I purchased my home in Florida, Palm Beach county, in 2005 and I received my homestead exemption. Last week I was checking something on the Palm Beach Property Appraiser website and to my surprise I noticed that in 2012 my homestead exemption…
George
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What does the new 10K deduction limit include?

Some of my friends paid their property taxes early this year, due to the new 10K deduction limit (https://www.mercurynews.com/2017/12/22/can-you-pre-pay-your-2018-taxes-to-avoid-the-gop-tax-bill-heres-what-you-need-to-know/). I am unclear as to what…
Tosh
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How do I calculate the (likely) property taxes on a new home in a new area?

I live in Texas where there is no personal state income tax, but there is a significant tax on real estate. I am considering buying a new home, built to my specifications (ehh, to an extent...) in a new neighborhood by a home builder. I have…
agent86
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Will there be more tax deductions if I put the house completely under my name, versus doing a joint ownership?

I currently live with my mother, and the house is under her name. However, I pay for the property tax (house paid off). In regards to property tax reductions. If I will be continuously paying the property tax, will there be more tax deductions if I…
user
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Are Kentucky vehicle property taxes paid in arrears or advance?

(Note: This question is not about sales tax.) We paid the Registration on our van last November, which includes property/usage tax. This month we turned over the vehicle to the dealer from whom we bought another vehicle. Now we got a notice from…
Andrew Steitz
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Tax implications for buying property in another country

Are there are tax implications for buying an apartment in another country (as a US resident with Green Card)? Does the IRS require to pay taxes in the country in which you live or do you pay property taxes to the country in which the apartment…
Mihai C
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Will my property taxes change if I get it appraised for PMI removal?

I have studied questions around Mortgage Insurance removal and various experiences (mostly painful) with lenders in this process. I had budgeted and readied myself to make a principal payment to bring our stake in the house to 20% but the website…
perennial_noob
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