It ’s definitely that, if you know how to reduce property taxes, you also learned how to reduce the value of your property. The taxes are calculated in relation of the value of the property and it is very important that you learn to overcome this problem. Note that sometimes not only those with extra [...]
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1. Why is is important for potential home owners to know what the property taxes will be on a house before they buy it?
It is very important to potential home buyers to know about the property taxes on a house because:
- Most mortgage companies will make the property owner escrow the property taxes and therefore [...]
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If you owe the Internal Revenue Service (IRS) any taxes, there may be some comfort in knowing that you are not alone. Literally thousands of Americans owe the IRS money. The best course of action is immediate. Don’t wait for the Internal Revenue Service to come calling on you. Call on them first. Delaying the [...]
By now, everyone has an opinion on the battered American economy: why it happened, who caused it, and what we should (or shouldn’t) do about it. There’s one issue that almost all of us agree on though…no one wants to pay higher taxes, whether it’s to bail out the latest corporate behemoth-turned-beggar, or the city [...]
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Comparable Sales Method
Under Prop 8, California property taxes must not be imposed on more than the fair market value of a residence as of January 1st, each year. You may use the closing sales price of homes similar to your own to prove this (i.e. Comparable Sales). Ideally, these homes will be in close proximity [...]
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