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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 ...
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1answer
35 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 ...
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3answers
372 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 ...
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2answers
1k 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 ...
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2answers
89 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 ...
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1answer
36 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 ...
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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 ...
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1answer
110 views

NYC property taxes

I am trying to understand property taxes in New York City (borough of Manhatten). Some buildings seem to have very low assessed values. For example, a building might be listed in ACRIS as having a ...
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2answers
73 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 ...
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2answers
156 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 ...
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2answers
194 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 ...
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4answers
3k 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 ...
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2answers
186 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 ...
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1answer
311 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 ...
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2answers
2k 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 ...
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3answers
112 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 ...
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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. ...
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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 ...
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4answers
3k 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 ...
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5answers
3k 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
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2answers
104 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
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2answers
215 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 ...
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4answers
10k 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 ...
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2answers
68 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 ...
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4answers
415 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 ...
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3answers
2k 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. ...
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3answers
7k 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 ...