Property Taxes
Property taxes
How do property taxes work?
Where can I learn more about appealing my property taxes?
Property taxes
Property taxes are what most homeowners in the United States pay for the privilege of owning real estate, on average 1.5% of the property's current market value. These annual local assessments by county or local authorities help pay for public services and are calculated using a variety of formulas.
Property taxes on all real estate are fully deductible against current income taxes. If you itemize, you may also deduct property taxes on a second home.
If you feel that your current property tax assessment is incorrect, you must contact your local tax assessor's office to find out what procedures should be followed to appeal your tax assessment.
How do property taxes work?
Property taxes are what most homeowners in the United States pay for the privilege of owning a piece of real estate, on average 1.5 percent of the property's current market value. These annual local assessments by county or local authorities help pay for public services and are calculated using a variety of formulas.
Where can I learn more about appealing my property taxes?
Contact your local tax assessor's office to see what procedures to follow to appeal your property tax assessment. You may be able to appeal your assessment informally. Mostly likely, however, you will have to go through a formal tax-appeal processes, which begin with an appeal filed with the appropriate assessment appeals board.
