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1
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4answers
70 views

Property tax rate disconnect

I live in Santa Clara County, California and I have been shopping for a mortgage for a home purchase in this county. I am repeatedly told by every bank that the tax rate is 1.25% of the home ...
4
votes
2answers
54 views

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 ...
0
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0answers
69 views

1% TDS on immovable property for multiple buyers

http://blog.tdsman.com/2013/11/will-transactions-one-buyerseller-filed-form-26qb-tds-immovable-property/ Above link tells that Online statement cum Challan Form/ Form 26QB is to be filled in by each ...
0
votes
1answer
36 views

Canadian tax treatment on international property sale and transfer of proceeds

I am a Canadian citizen. I have a small property from my country of origin. The value is less than CAD$100,000. If I sell my property and transfer the money to Canada, is there a tax payment ...
0
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1answer
36 views

Property purchased for residence abroad

If I am residing in the US but I purchase a secondary vacant property (residence) abroad (India) for my own personal use (not for rent), and pay the property tax to the Govt of India, then do I still ...
4
votes
2answers
329 views

Property Tax Deduction When Selling a Home

We sold our home last November. During the year we paid property tax on the home, I'll say total of $6,000 for easy math. This is for the 2014 property taxes due in 2015. At closing we had to pay our ...
1
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0answers
43 views

Downsides to Property Tax Deferral?

Illinois has a property tax deferral program that allows seniors to borrow against the equity of their house (which includes a lien) up to $5K per year at 6% simple interest (!). I am considering ...
3
votes
1answer
414 views

Transferring money from the Philippines to the USA?

I would like to bring in $150,000 from my bank in the Philippines to another bank here in the US. This money is from a lot I sold which was given to me (under my name) by my dad who has already passed ...
0
votes
1answer
65 views

Effect of property tax reduction on sale price

EDIT: TL;DR: If property tax assessments are lowered, will that be likely to lower what you can get for the house when you sell it? I am currently residing in the estate house of my late mother, ...
0
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0answers
36 views

Property Foreclosure - property tax

After the economic crash in 2008, my father bought a house in Michigan through a third party (we are Canadian). The company that we had set up to pay for the taxes and receive payment for this ...
1
vote
3answers
77 views

Making arrangements to pay my mothers late property taxes

I want to pay my mother's taxes for her. I need to bring them current. can I make arrangement to pay what is owed or does she have to make arrangements?
4
votes
5answers
683 views

How come the government can value a home more than was paid for the house?

If you buy a house at a foreclosure for $100,000... how is the government allowed to value that house at $180,000 for tax reasons. How is what the house cost not exactly the value of it.
1
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2answers
69 views

Supplemental Property Tax Assessment (Article 13A) California

We have had the joy of receiving two property tax bills this year. One in the amount of about $7,000, which is the one we expected for the property. We purchased a new house from a builder in May 2015....
1
vote
3answers
482 views

Resident sibling paying property taxes until inherited house sale--financially fair/appropriate?

My two siblings and I are working out our inheritance, one piece of which is our late mother's home. My wife and I had been living here, rent-free (and unemployed and at a mid-career impasse/life ...
2
votes
1answer
63 views

What special considerations need to be made for a US citizen who wishes to purchase a house in Canada?

According to an answer on a previous question, buying a house in Canada if you are a US citizen is pretty straightforward. But it doesn't address tax concerns in both countries - how are they handled?...
1
vote
1answer
84 views

In which infrastructure bonds should one invest to avoid capital gains tax after selling a property in India?

This is a follow-up question to Taxes on sale of property What are the available infrastructure bonds and can one withdraw that amount at any moment or some lock-in period is there? How capital ...
3
votes
3answers
582 views

Tax deductions on empty property

Some one that works with me told me about a wealthy person that owns a lot of large buildings in our city. He said the guy would rather keep the buildings empty and is using the empty buildings as ...
3
votes
2answers
3k views

Buying a condo to attend schools in another district [closed]

I live in a area with bad school district. I pay a lot in property tax and I'd like to avoid paying private school for my children when they start in 2 years. The option would be to move to a better ...
0
votes
2answers
226 views

Paid My Property Taxes Late--In Which Year Do I Get the Deduction?

I paid the second installment of my property taxes late for 2014. They were due 2014, but I paid them in 2015. Can I deduct them on my 2014 taxes, or do I need to wait until I file in 2015? In ...
1
vote
1answer
41 views

Should business property tax return item values include shipping and sales tax?

When filing a business property tax return in Virginia (USA), should the amounts on the return and itemized list that goes along with it include the shipping and sales tax costs of the equipment and ...
34
votes
5answers
4k views

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 ...
1
vote
2answers
326 views

NYC property taxes: How can a building worth $12 million have an assessed value of $150,000?

I am trying to understand property taxes in New York City (borough of Manhattan). Some buildings seem to have very low assessed values. For example, a building might be listed in ACRIS as having a $...
2
votes
2answers
79 views

Sole Trader or LTD, buy personal house and work from home

As Sole Trader or Limited you can claim a partial rate of your rent if the house where you live is used for business purpose. As usual everything has to be reasonable and calculated pro rata on time ...
2
votes
2answers
331 views

Can I retroactively get the tax assesment on my house adjusted and get a refund on previously paid taxes?

We're in the process of selling a former home. Our listing price has been sinking all along, but it is about to go below what's listed as the "assessed market value" of the home - that is, the value ...
0
votes
2answers
664 views

What is a “property tax assessment”?

Zillow list property taxes near the bottom of any listing. There are two main columns, Property Taxes and Tax Assessment. On an example $350k home for 2014, Zillow list the two values as: $1900 and ...
10
votes
4answers
8k views

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 ...
4
votes
2answers
192 views

Having a flat rented for me on expenses vs having a payrise

I've been offered a flat in London instead of a pay rise. I feel like I'm getting a great deal, but I just want to run this by people in case there's something I'm missing here. Quick background. I ...
1
vote
2answers
449 views

Buying property in India : joint owner

I am on H1b visa in USA and thinkg about buying property in India. I have a lot of confusion in this matter. Should I buy property on my own name? or me and my father's joint name? If I keep my ...
6
votes
2answers
7k views

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 ...
3
votes
2answers
193 views

Hidden downsides of real-estate property tax appeal?

My real-estate lawyer sent me an offer to file a tax appeal on my behalf. I will have to pay some percentage from the tax savings if appeal is successful and my taxes are reduced and won't have to pay ...
1
vote
3answers
129 views

Can I get my property taxes lowered?

I just purchased a duplex and the counties valuation is $46,600 more than the appraisal that my lender ordered. I really would like to get this lowered because there is no way it's worth what the ...
1
vote
2answers
1k views

Buy To Let Mortgage For Relative - Tax Implications - UK

My sister is just coming out the other end of a messy and protracted divorce. She has 3 children and despite many legal actions there's pretty much no hope of getting any support from the ex-husband. ...
5
votes
1answer
1k views

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 ...
2
votes
4answers
4k views

Property Tax Deduction in Illinois After Home Sale

We sold our condo last year in Chicago. Whether this is common knowledge or not, Illinois residents pay property taxes in arrears. At the closing, the seller pre-pays a prorated amount of taxes for ...
13
votes
5answers
5k views

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 ...
4
votes
2answers
111 views

Decline In Value appeal (California property tax)

I received a come-on letter from a lawyer who wants to represent me in an appeal of my residential property tax assessment under California's Proposition 8 (enacted in 1978, concerning temporary ...
8
votes
2answers
231 views

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 ...
4
votes
4answers
24k views

Do property taxes get deducted 100% from the Annual Tax Return or only a fraction of them?

Hi Personal Finance and Money, My question comes from hearing people say that you should buy a house rather than rent because you can deduct all of your property taxes on you tax return. Question ...
2
votes
2answers
73 views

How does expiration of special zone property taxes affect property values?

I've been thinking about investing in local real estate lately, and there's an unusual (to me) practice here of funding some of the city provided infrastructure (water, roads and lighting I guess) by ...
10
votes
4answers
541 views

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 ...
3
votes
3answers
3k views

Tax implications of buying the vacant lot next door?

I live in Green Bay, WI in a newer development. We built our house 2 years ago and houses are starting to go up around here. We want to buy the vacant lot next to us so we don't get any neighbors. ...
8
votes
3answers
9k views

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 ...