Welcome to the official Blog of BuyOwner.com

BuyOwner.com buy sell trade rent

  • Home
  • About BuyOwner.com
  • Popular Posts

Posts tagged appraisal

Understanding Property Tax

Dec01
2009
Leave a Comment Written by Carrie

money

Even if you can afford to purchase a house outright, without a loan or mortgage, the expenses don’t stop once the home is completely paid for. Aside from the cost of upkeep to manage the property, you will also be required to pay a yearly tax on it. If you’re new at this whole owning-a-house thing, you may be wondering, “What is a property tax?”

An annual property tax on a home is based on the value of the house coupled with the value of the land on which it resides. While property taxes vary between countries and even the local government, they are all assessed by an authority performing an appraisal of the monetary value of the property (both the building and the land, individually). A tax is then assigned in proportion to the total value of the property.

In the United States, property taxes are levied by each county.* Tax rates are determined by an appraiser by investigating the selling prices of similar houses in the area and creating tax maps to indicate the value of a particular area of land, as well as the buildings that exist on it (aka your house).

Your property taxes are generally used to fund the local government and may be doled out to finance schools, citywide improvements (on roads and such) or other endeavors your town wishes to take.

* Note: There are no counties in Louisiana or Alaska, so the individual cities control the taxes.

Posted in Buying Tips, Tips and Ideas - Tagged buying a house, county, land, local government, property tax, United States, value
SHARE THIS Twitter Facebook Delicious StumbleUpon E-mail

About the BuyOwner.com Blog

Welcome to the BuyOwner.com Blog, your source for regularly updated market information!

Founded in 1984, BuyOwner.com® is the leading provider of real estate marketing services. We pioneered the "For Sale by Owner" (FSBO) market, which today represents over 20 percent of all residential real estate transactions.

You can read more about BuyOwner.com here.

Article Archives

Buy Owner Links

  • BuyOwner.com on Facebook
  • BuyOwner.com Testimonials
  • BuyOwner.com Website
  • Twitter: Buy Owner

Blog Roll

Real Estate Top Blogs Real Estate Blogs - BlogCatalog Blog Directory Add to Technorati Favorites Find the best blogs at Blogs.com. Blog Directory Home Improvement Blog Directory

Subscribe

Enter your email address:

Delivered by FeedBurner

Tags

31 reasons to sell with buy owner adding value to your home buying a home buying a house buy owner Buy Owner experience curb appeal decorating eco-friendly eco-friendly tips environment florida fsbo Green Living holiday home decorating Home Improvement home improvements home ownership home selling how to sell your home interior decorating interior design kitchen Market News moving real estate real estate market real estate selling real estate tips Regional Info selling selling a home selling a house selling Buy Owner selling by owner selling for sale by owner selling fsbo Selling Tips selling with buy owner selling your home spring staging using buy owner winter

EvoLve theme by Blogatize  •  Powered by WordPress BuyOwner.com Blog
Tips and info for people selling & buying their homes "Buy Owner"