Having trouble viewing this email? Click here to view it as a webpage!

How Is Your Property Tax Determined?

Owning a home comes with many responsibilities, including paying your annual property taxes. These numbers vary from state to state and region to region, and many homeowners may be curious as to how these numbers are determined.

Unlike the income tax and the sales tax you pay, the property tax is not based on how much money you earn or how much you spend. Instead, this number is based solely on how much the property you own is worth.

The real property tax is an ad valorem tax, meaning a tax based on the value of property. Ideally, the owners of property of equal value pay the same amount of property taxes, and the owners of more valuable property pay more in taxes than the owners of less valuable property.

So how is this tax calculated? The tax is calculated using a variety of formulas and is based on a property’s assessed value – its full market value or a percentage thereof – and the tax rate of the taxing jurisdiction, minus any property tax exemptions, such as those offered for the elderly or veterans.

If you have any specific questions on your region's property taxes, call your county tax office to speak with a representative.

As a Member of the Top 5 in Real Estate Network®, I, along with my team, have a wealth of real estate and homeownership information that may be of help to you. Feel free to contact our team any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.

Sincerely,

{Affiliate}
{AffiliateEmail}
{AffiliateCompany}
Office: {AffiliatePhoneExt}
Mobile: {AffiliateCell}



This email was sent by RISMedia, Inc. 69 East Ave. Norwalk, CT 06851, on behalf of {Affiliate}. You can unsubscribe at any time.
Edit your subscription | Unsubscribe