No Estate Taxes? You Might Just Want to Hold Your Breath

In 2001, a progressive Federal Estate Tax became law of the land. The Economic Growth and Tax Relief Reconciliation Act (EGTRRA) would change the tax rate and annually increase the size of estate value minimums before estate taxes were applied.

Types of Property Taxes

There are a lot of different taxes that are imposes all over the globe. Tax that is imposed towards the owners of certain property within their jurisdiction by the municipalities is known as Property Tax. Property tax or also known as mileage tax in certain countries around the globe are normally according to value of the property itself. The tax is one type of ad valorem which an owner of a property is needed to pay a certain value of tax based on the value of the property.

Questions and Answers About Property Taxes

If you are unable to pay property taxes in time, there are severe consequences ahead. Even if you are moving on in the process of filing bankruptcy, you need to attend to these property tax obligations. Pick up a few tips on how to manage delinquent property taxes from these useful questions and answers.

Understanding the Difference in Property Tax Assessment Values and Appraisals

When you are looking at buying a home or selling your home, some people are under the impression that the assessed value on your property tax bill is a good way to figure out the value of a property. Typically, property tax assessed values are updated periodically, but might not take any market conditions into consideration, like an appraisal does.

Be Careful of Property Taxes

Even if the value of your home has drastically declined due to the recent real estate market crash, your property taxes could still be rising. Many homeowners have been shocked to find that their property taxes are on the rise, even as the value of their home decreases. Do not assume that because the market has brought down property values, property taxes will follow.