I read an article on Nicholas Cage squandering his fortune and among other things it says he was "...eventually facing foreclosure on several properties and owing the IRS $6.3 million in property taxes".

How can he owe the IRS property taxes? I thought that property taxes were state taxes only in the United States.

  • Income tax on capital gains on the buying and selling of property??
    – DJohnM
    Jan 20 '18 at 17:29

No, the IRS doesn't collect property tax.

Most of the articles about this are short on substance, but from statements Nicolas Cage made, it sounds like he owed back-income tax that resulted in the IRS putting a lien on his real-estate holdings.

He may also have had property tax issues with local government, but that would be a separate issue from the IRS.

Edit: This article seems solid, suggests Cage's back-tax issues are due to improperly deducting personal expenses.

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.