Property Tax

More in Property Tax

How Much of a Tax Break Do Seniors Get for Property Tax?

Owning a home or property means paying property tax to your local tax authority. The tax goes to roads, schools, parks and other municipal expenses, and is based on the assessed value of your home. In many states, senior citizens can take advantage of tax deferrals or ...

Can I Claim Property Taxes on My Personal & Business Deductions?

Homeowners are entitled to several very advantageous tax deductions. If you own rental property, you can claim even more expenses on your tax return. The key is to put the correct deduction amount on the appropriate tax form. You can't write it off twice. The Internal Revenue ...

Tax Deductions for Homeowners on Disability in North Carolina

North Carolina has several programs available that are designed to lower the property tax bills for disabled homeowners and disabled veterans. North Carolina residents who qualify can apply for and receive tax deductions that will reduce the assessed value of their homes. This ...

How to Calculate Your Ohio Homestead Exemption

The Ohio homestead exemption allows qualified Ohio residents to reduce their property tax burden. Before 2007, Ohio used a complicated formula for determining the homestead exemption. Fortunately, as of 2012, the homestead exemption is now applied at a flat rate. Find out your ...

Can You Pay Back Taxes on Someone Else's House?

Property tax ownership has come into question in some circles. The myth seems to be that simply by paying someone else's property taxes, you become owner of that property. In truth, the concept of squatter's rights simply refers to instances of adverse possession claims with ...

The Tax Advantages of Paying Property Taxes Before the New Year

While the federal government relies on income taxes as its primary source of revenue and state governments typically rely on a combination of state income and sales taxes, local governments derive a significant portion of their revenue from property taxes. Even though the ...

A Summary of the Florida Intangible Personal Property Tax

Although the intangible tax in Florida on personal property has been repealed, there are still some tax burdens residents will pay. Even with property and sales tax, though, Florida has one of the lowest tax burdens in the country, making it a great place to live and run a ...

Will Turning My Home Into a Business Lower the Property Tax?

Some businesses thrive in a converted residential property. Business owners might turn their home into their business’s home if they’re looking to move, are underwater on their mortgage, or for any number of other reasons. Relocating your business to your home can have a number ...

What Does "Homeowner Exemption" Mean?

A homeowners tax exemption can be deducted from your property’s appraised value and you'd only pay taxes on the balance. All states make some kind of homeowners exemption available, but that’s where the commonality ends. Types of exemptions and rules for qualifying can vary ...

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