Archive for the ‘Property Taxes’ Category

What Happens At A Property Tax Auction

Friday, October 12th, 2012

The following article lists some simple, informative tips that will help you have a better experience with Property Taxes.

If you have a property that is delinquent on property taxes, the city or town that the taxes are owed to will hold a property tax auction to sell the property in question and redeem the delinquent taxes. This type of auction is not as common in some areas as it is in others. Many times, a property owner who owes back property taxes will try to raise the monies before the property tax auction and keep ownership of said property. In some cases, the properties are sold. In many cases, the amount owed in delinquent property taxes is so low, that the buyer is receiving an excellent deal.

To bid on properties at a property tax auction, most states require that your register prior to the start of the auction. Once you are registered, you are given some details about the property and times and date when the property tax auction will take place. Once the auction begins, you will have an ID number, which will represent you as a bidder. As the auction proceeds, bids are entered until the final bid is received. After this time, a winning bidder has so much time to produce the monies to pay for his or her bid and take control of the property.

There are some things to check before attending a property tax auction, which will protect you if you decide to bid on the property. Check with a title insurance company to see if there are any other outstanding liens on the property. If there are, you may want to find out the amount and if it is possible to clear them with payment or if the owner has to clear these liens up before you can take control of the title.

Most of this information comes straight from the Property Taxes pros. Careful reading to the end virtually guarantees that you’ll know what they know.

This is done to protect you from buying a property and later finding out that you cannot take control of the title. Many people forget this simple step and have ended up paying more than expected to take control of a title. If the title is clear of any other liens, you should have a title in your name within a month’s time. You may also want to discuss this with a lawyer prior to bidding.

Most auction companies do not have access to a title company for verifying the title. If you find that the title does indeed have liens or other assessments against it, you can back out of the deal, however, this is another lengthy procedure. Before bidding on any property, you should pay to have a title search done to protect yourself. If there is a loan company attached to the property, you may be responsible for mortgage payments that are due on the property.

Title searches do cost some money, but you might be able to find out some of the important information from the local clerks office if they have open records, which most do. You can then see if there is a mortgage attached to the property and the name of the lender.

Those who only know one or two facts about Property Taxes can be confused by misleading information. The best way to help those who are misled is to gently correct them with the truths you’re learning here.

About the Author
By Anders Eriksson, proud owner of this top ranked web hosting reseller site: GVO

Mobile Homes And Property Taxes In Wisconsin

Thursday, October 4th, 2012

The following article lists some simple, informative tips that will help you have a better experience with Property Taxes.

In Wisconsin the assessment of a mobile home only has to be done from the point of view meaning the outside can be used to assess the mobile home, however an inside assessment does help. Mobile homes only have to be assessed every five years, therefore the assessed value and the market value are with in ten percent of each other. Mobile homes in Wisconsin can be assessed for taxes as personal or real property. This also means a mobile home may be subject to no property taxes.

If you have a mobile home that is on a foundation, it is considered a real property. If it is on wheels or no foundation, it is considered personal property. It also has to be on land owned by the mobile home owner. Therefore, if you do not own the land and there is no foundation to say, it is personal property and not subject to property taxes. Recreational vehicles and campers are not subject to property taxes as well as personal tax liabilities as well. Just because a mobile home has wheels, does not always make it exempt from property taxes.

So far, we’ve uncovered some interesting facts about Property Taxes. You may decide that the following information is even more interesting.

Property tax laws governing mobile homes are difficult to understand whether you live in Wisconsin or any other state. Many things are considered before you are liable for property taxes. You might think your mobile home should be subject to property taxes, but the taxing authority may consider it a personal tax issue. A mobile home is also measured for the length and width, which helps an assessor determine if it qualifies for property taxes. This will give the square footage of the mobile home, which has to be a minimum of so many square feet to be considered a dwelling with potential property tax liability.

If your mobile home is subject to a fee for parking that is common with mobile parks, your mobile home is not charged property taxes. This is because you do not own the property and you are paying rent to park your mobile home in the park. Therefore, you owe no property taxes. You are however required to pay the parking fee that can be a nice size amount of money. This is besides your monthly payment owed to a lender who holds the lien on the mobile home. You will however have to claim the mobile home as a personal tax.

Property taxes in Wisconsin for mobile homes are as follows, mobile homes subject to property taxes are any size on a foundation with utilities hooked up on land that is owned by the mobile home owner, but they are subject to personal tax but only if there is no parking fee paid. Exempt from property taxes are recreational mobile homes and campers as well as vans and buses. Units that are on wheels and transported to a site for assembly of sections are subject to property taxes, this would be a twin section unit. Mobile homes for sale on a dealer’s lot are not subject to property taxes in Wisconsin as well.

About the Author
By Keith Lyles, feel free to visit his Fast Track Website To Find Out More About Building A Highly Profitable Online Business: Niche Marketing

The Stages Of A Property Tax Appeal Process

Saturday, September 29th, 2012

There are several steps for the property tax appeal process. The first step is to determine if you are receiving a higher assessment than what you believe the property could sell for in this period. If you feel the assessed value is high, you can then take the first step towards appealing the tax bill. If you do not succeed on the first level, you have two other levels to appeal to before taking the final step in a courtroom.

The first thing to do is appeal to the local board. The local board consists of the members who govern the community that you reside in and are the ones who approve the assessment. In writing, you will submit your claim to the county or city clerk stating that you are appealing your assessed value on your home. This has to be in a certain time and every community has a different ruling on the deadline for this process. You will need to provide proof that the assessment of your property is to high. You will also need to fill any forms that are deemed necessary. You will be notified in writing what the decision is about your claim.

Those of you not familiar with the latest on Property Taxes now have at least a basic understanding. But there’s more to come.

If they denied your claim, you may take the second step, which means appealing to the county board. This is comprised of county commissioners. In writing, you must submit a letter of appeal for the property in question. Again, there is a deadline for doing this after the local board denies you. You will receive notification of the hearing. If this board denies you a lower assessment of your property, you can then take your case to the Office of Hearing Examiners. After they receive your letter of intent, they will set a hearing date.

If this level of the community denies your claim to lower the assessed value of your property, you can then take it to court and be heard by a judge. You will have a certain amount of time after being denied by the Office of Hearing Examiners to partition the court for a hearing. Once you are granted the court hearing, you need to get all your vital information together and plan your testimony as to your reasons and why you are requesting a lower assessment value for your property.

During this proceeding, the judge will hear both sides of the argument and after considering all sides, the judge will make a decision whether to lower the assessed value of your property or resolve that the amount of the assessment is justified. This of course, is going to be the final decision. If you have any questions, you should make sure to ask an attorney if you are not using one to represent you. It might just be that you are asking for a great deduction in the assessed value than what the courts and the other boards feel is to drastic. You might have to consider changing the amount you feel is justified, and settle with a higher amount, but one that is slightly lower than what the original was.

About the Author
By Anders Eriksson, proud owner of this top ranked web hosting reseller site: GVO

Using A Property Tax Attorney

Sunday, September 23rd, 2012

The following paragraphs summarize the work of Property Taxes experts who are completely familiar with all the aspects of Property Taxes. Heed their advice to avoid any Property Taxes surprises.

If you are concerned about any of the statements on your property tax bill, especially the property tax assessment value, you might want to consult with a property tax attorney. Although you can do the process yourself, you may feel overwhelmed by the legalities and find it necessary to have help. You can look in your local phone book under attorney’s ad then look for a lawyer that specializes in property tax issues. You may need to talk to a few attorneys before you find one that can help you with your case.

The property tax attorney can also help you if you owe delinquent property taxes. They can help you save your property from a property tax auction. Whether you need an attorney for fighting a high assessment value or for help establishing a payment plane to pay delinquent taxes, you should find one that specializes in these areas. A divorce lawyer or a estate lawyer may not be the best choice in this case. You need someone that understands the tax laws, and has dealt with property tax issues. This will benefit you more than you could understand. Someone that knows the tax laws is more qualified.

Some people may feel this is extreme for lowering your tax liability, but when you consider the years of taxes paid at a higher assessment rate, you are better off paying an attorney with knowledge and a proven record of accomplishment than paying several thousand dollars over the course of many years. Property assessments are not done every year and when they are done, they very rarely go down, but rather they go up. This will cause problems if you decide to sell your property. Many people look for the assessed value as well as the fair market value.

Once you begin to move beyond basic background information, you begin to realize that there’s more to Property Taxes than you may have first thought.

If you need a property tax attorney, you will find that they are qualified in most areas of the laws governing taxes. You may use a tax attorney to reduce your tax liability on county taxes due, if your property is tax exempt and the bill says that is not. You can also use a property tax attorney if you find your tax bill states your home is a two family home rather than a single family home. This matters because, you are suppose to have less tax liability for a single-family home than a two family home.

The property tax attorney will need all the available documents. The attorney will more than likely ask a private company to do another assessment of the property. This just ensures that you have grounds for an appeal. If the private company finds the assessment to be accurate, you might need to reconsider your appeal.

If the company feels the assessment is over what your particular property is should be assessed at, then you will use this report as part of your argument for appealing the property tax bill. You always need to think about this before jumping in, you want to have the information you need before filing any papers with the community.

About the Author
By Anders Eriksson, now offering the host then profit baby plan for only $1 over at Host Then Profit

Is There Relief From High Property Taxes

Tuesday, September 18th, 2012

When you’re learning about something new, it’s easy to feel overwhelmed by the sheer amount of relevant information available. This informative article should help you focus on the central points.

The answer is more likely no. As long as the cost of living continues to rise, property taxes will continue to rise as well. Even with the housing market right now, the economy is still on the rise. Schools still need money, communities need money and other districts need money as well. If no one would need money, like back in the cowboy and Indian days, then no one would have to pay taxes. Since this will never happen, property taxes are going to continue. Schools and school district are the major holder of the capital funds that are brought in by property taxes.

The only way to reduce property taxes and find some relief is to find better ways for schools to utilize smaller amounts of money. One example of poor spending happened in one local community, where the school board approved buying some type of removable flooring for a certain school without considering the time and labor needed to place it and remove between group activities. As a result, the expensive flooring is not used and was offered to another school in the community. This resulted in taxpayer’s money being spent foolishly and is now not available for other needs.

You may not consider everything you just read to be crucial information about Property Taxes. But don’t be surprised if you find yourself recalling and using this very information in the next few days.

This is just one example of wasted tax dollars being spent. If there was a way to give relief from high property taxes, one would have been found by now. That fact that salaries are rising and more school districts are more about new technology than the old way of learning has called for an increase in higher taxes. One way to cut expenses would be to teach students the way baby boomers were taught, with textbooks and teachers. Libraries today could become obsolete if students continue to use computers for all their schoolwork.

Relief from high property taxes requires rethinking the way things are done today verses how things were done years ago. This goes for schools, fire and police, city governments and overall city beautification. There should be more volunteer work for beautification rather than spending thousands of dollars to replace flowers on the medians or buy new garbage cans for the downtown area because you found out the ones you bought are not user friendly. Putting in new streets and then deciding you need to have new sewers a year later is mismanagement of tax dollars. If someone would appoint a committee to oversee some of the horrible spending practices of local communities, relief from high property taxes would be a little closer to a reality.

No one wants to pay high property taxes, but when a referendum is up for vote for new artwork in a circle of a street and the majority thinks it is a great idea, everyone loses more tax dollars. Maybe the piece could have donated like the previous years artwork was. Of course, these are only some issues for higher property taxes, but without any say in the matter, many people are going to keep paying high property taxes.

When word gets around about your command of Property Taxes facts, others who need to know about Property Taxes will start to actively seek you out.

About the Author
By Anders Eriksson, now offering the host then profit baby plan for only $1 over at Host Then Profit

Understanding Your Property Tax Bill

Monday, September 17th, 2012

The following article includes pertinent information that may cause you to reconsider what you thought you understood. The most important thing is to study with an open mind and be willing to revise your understanding if necessary.

The first thing to understand about your property tax bill is the terminology. Many people look at the tax bill and see a bunch of numbers that have no meaning to them. In reality, they do have a special meaning to the property owner. If you do not understand what the sections on your property tax bill mean, you might not know if this bill is correct or not. Here are some terms that you need to understand when looking at the tax bill.

Fair cash value is what the property can be sold for between two parties without any duress. The assessed value of the property is what the city or county deems a fair assessment of what the property is worth. This is figured out by comparing your property to similar properties in the same area that have sold recently.

Exemption means the removal of said property from the tax base, this is only a part of the assessed value of the property. This might hold true for a church that is only used for religious activities. It may also be due to a homestead exemption. If it is for a home that is considered a religious property for worship only, you can claim the tax exempt status if you only use it for church activities, no personal use.

How can you put a limit on learning more? The next section may contain that one little bit of wisdom that changes everything.

When you look at the property tax bill, you will see the tax rate. This is the tax due on the property after being calculated with percentages of the tax base. The term taxing district represents the schools and local government that has the levy against your property taxes. The tax code is used for office purposes of the county clerk that represents a combination of taxing structures or bodies.

For those who have a lottery, you will see a section where it states that you are receiving a lottery credit, which will lower your total property tax due. Everyone in the county receives a lottery credit and that is why the credits are usually very small in amounts. The lottery credit will affect your total tax due and not the tax base.

Once you understand the property tax bill terminology, it does make it a little easier to understand the bill. If you do see problems or you have issues with the tax bill, you can request a property tax appeal with the help of a property tax lawyer or consultant. It is always wise to consult an attorney before taking such a step where property tax and the government are concerned.

If you see that your lottery credit is missing or different from others, you might need to question this or question your assessed value of the property. You might even have questions regarding the fair market value of your property. You can always question the bill before paying it, if you do not receive answers that you understand, visit a property tax consultant and see if they can help explain the answers you need to your questions.

As your knowledge about Property Taxes continues to grow, you will begin to see how Property Taxes fits into the overall scheme of things. Knowing how something relates to the rest of the world is important too.

About the Author
By Keith Lyles, feel free to visit his Fast Track Website To Find Out More About Building A Highly Profitable Online Business: Niche Marketing

Where Does The Property Tax Money Go

Sunday, September 16th, 2012

The following article lists some simple, informative tips that will help you have a better experience with Property Taxes.

When you pay your property tax, it is paid to the clerk’s office where it is then placed into a special account until it is divided up between school districts, city and townships, and the county. There is a portion of the tax dollars that is directed to other districts, which might include a nursing home owned by the city, county, or something similar that requires tax dollars to operate. Fire, ambulance, parks, libraries, and others receive a portion of the tax dollars as well. How much each group receives is different for every state and community. However, the highest pay goes to the school districts and then the city, county and townships.

What Does The School District Do With The Money

The school districts use the money to pay teachers, supervisors and custodians. They money is also used towards school lunch programs as well as the new breakfast programs some schools offer. Anything related to building a school, up keep and remodeling is all funded with tax dollars. Some of the money is used for books and other supplies needed in the school for computer classes, woodshop, home economics and science materials. The money spent by schools is for bettering the education of children.

Other Districts That Use The Property Tax Money

If you don’t have accurate details regarding Property Taxes, then you might make a bad choice on the subject. Don’t let that happen: keep reading.

If your county has a county owned nursing home, some of the funds are directed at the nursing home for up keep and salaries as well as needed supplies not covered by the state. Fire and police also use some the tax money for buying new cars, special equipment and salaries. Libraries and park systems receive monies for operating costs and up keep of the buildings and grounds as well as salaries. Ambulances that are operated in the county are given a small portion of the monies for operating costs.

Cities, Counties And Townships

Cities, county and townships use the monies for paying government salaries and funding different building projects as well as up keep of some roads. The money is also used to clean up highways garbage collection and some cemetery up keeping if the community owns them. The communities use the monies for many different things and every community and state has different laws governing the use of the money collected from property taxes.

The overall picture about where your property tax money goes is vague. Every state and community has a board called a finance committee that designates where your property tax money goes and how it is spent. Just because the school district receives so much money, they still have to explain to the committee why they need the money and they have to present a proposal to the committee.

The committee then votes on the use of the money, either grants or denies the use of the funds. In some cases, a small portion of the funds requested may be released depending on how the committee votes. All funds are voted on before being released to any district that has money set aside.

Now that wasn’t hard at all, was it? And you’ve earned a wealth of knowledge, just from taking some time to study an expert’s word on Property Taxes.

About the Author
By Anders Eriksson, proud owner of this top ranked web hosting reseller site: GVO

When Selling A Property, Who Is Responsible For The Property Taxes

Thursday, September 13th, 2012

When you are selling a property and it is in the middle of a property tax year, the seller is responsible for the property taxes up to the day of closing after which time the remaining tax is due by the buyer. Now some people are very unaware of this fact when they close on a property and usually find out at the closing. The seller will bring a check along for their part of the taxes and the seller’s mortgage company receives the check, which is deposited in the buyer’s escrow account. This however is only one option presented for coving split property taxes.

Many times the seller’s mortgage company will keep the funds and send it directly to the property tax office at the appropriate time of year. This rare of course, but has been done in the past. It all depends on the new mortgage company for the buyer and the mortgage company for the seller. The proper way many believe is to give the monies to the buyer’s mortgage lender and have them send the check to the property tax office by passing the intermediary, which is the buyer. This ensures the buyer’s mortgage lender that the money is indeed going for the property taxes.

You might wonder how they divide up property taxes and for a year. The mortgage lender of the seller will take the total property taxes owed from the past year and divide this by twelve months. After finding a monthly amount owed every month, they then will divide the number of days in the month of the closing that the buyer had the property in their name by the monthly amount. This will give a prorated property tax amount owed by the seller. The same is done to calculate the remainder of the months for the buyer.

Knowledge can give you a real advantage. To make sure you’re fully informed about Property Taxes, keep reading.

Who Receives The Lottery Credit If There Is One

The lottery credit is usually awarded to the buyer. If the lottery credit is smaller than the previous year, you may have to add some money to your escrow account to pay the property taxes. If the lottery credit is smaller, you may see a small refund coming your way. This amount however is never very much, it could be as high as fifty dollars or as low as five dollars that you would owe or receive a refund for unless there are other circumstances you are unaware of with the taxes.

You never have to worry about the property taxes when a property change takes place, the mortgage lenders would not allow the seller to forget about their share. There are officers of the mortgage company that have special jobs and one is the property tax issues and insurance as well.

Your first year of property taxes is always your best, it can change after that, especially if they raise your taxes after a sale of the property and you are not escrowing enough money to cover the raise. Your mortgage company made alter your monthly payment to cover this issue.

There’s no doubt that the topic of Property Taxes can be fascinating. If you still have unanswered questions about Property Taxes, you may find what you’re looking for in the next article.

About the Author
By Anders Eriksson, now offering the host then profit baby plan for only $1 over at Host Then Profit

The Lottery And Your Property Taxes

Monday, September 10th, 2012

Property taxes in some states come with a lottery tax reduction. This is because the state and the lottery have a deal that states that so much of the money spend on lottery tickets minus the winnings pay out is to be used to reduce the property tax of the property owners in the state. Some years, you may see forty dollars and another year you might see ninety dollars. The amount is determined by how many property owners there are and how much profit was made by the lottery. This also weights heavily on the type of property you have as well.

Whether you play the lottery or not, you are still entitled to a lottery tax credit. This does help lower the property tax, but it is not something you can rely on every year. You might see a ten-dollar lottery credit one year and the previous year it may have been eighty dollars. Since you expected another good year, you have to add to your property tax payments out of your pocket. Now when the credit is substantial, you can pocket that money. Mortgage lenders do not plan your tax escrow to include or exclude lottery credits. The reason is that it is not a guaranteed amount or even guaranteed that there will be one in any given year.

Once you begin to move beyond basic background information, you begin to realize that there’s more to Property Taxes than you may have first thought.

Every state has different amounts. Just as with life, not everyone in every state plays the lottery as in another state. Your neighboring state to the west may give their property tax payers two hundred dollars this year, while you will only see twenty dollars. It all depends on the states yearly sales and profit. The state to the west may have a higher gambling rate than the people that live in your state. This is why mortgage lenders do not rely on lottery credits when establishing your property tax payments every month.

Lotteries can be great for property owners, but if you are one who gambles and spends a great deal of money on it, you may not come out ahead either way. Yes, some states do allow you to claim gambling losses up to a certain amount, you should also have winning amount. Therefore, this does not help someone who gambles. Many renters have raised objection to the lottery credit because they do not receive one and they are gambles as well. This will be an issue that will never go away. Not all people who gamble are homeowners and they still receive a credit, but you have to own a property to receive the credit, therefore, renters are not benefiting for any of their gambling.

This is hot topic in some communities where the lottery credit is given. If the tax laws and the state laws do not change to include everyone, then renters will never see a lottery credit. However, renters do have some tax benefits that homeowners are not allowed as well. Maybe it does equal out and maybe it does not, no one as ever tried to figure it out.

There’s a lot to understand about Property Taxes. We were able to provide you with some of the facts above, but there is still plenty more to write about in subsequent articles.

About the Author
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Some Ways To Help Keep Property Taxes Lower

Sunday, September 9th, 2012

There are a few ways for taxpayers to help keep property taxes lower. The first way is to attend public meeting where decisions are being made about spending limits and spending in general. If you do not participate in meeting that is open to the public for suggestions and opinions, you cannot blame anyone for higher property taxes. If the community spending committee we will call them wants to raise taxes so they can afford to give aldermen and government officials a raise in salary, then no one will be at the meeting to voice their opinion and make people think.

If a committee is interested in buying land from a property owner and it is a substantial amount of money that will require an increase in property taxes, you might use a petition to request a vote when the next election is scheduled. This is done in many states and communities. This allows the voters who are tax-paying citizens to vote for or against the proposal. All spending should be done this way. That way everyone in the community has a say or a vote if you may on whether or not this type of spending is necessary.

The more authentic information about Property Taxes you know, the more likely people are to consider you a Property Taxes expert. Read on for even more Property Taxes facts that you can share.

Another way to avoid higher property taxes is to organize fundraisers for things that are needed for schools. If the school district is asking for more money, which could raise property taxes, you might suggest ways for the entire school system to raise the money needed and enjoy in a sense of accomplishment. Not only is this a great way for raising money for the cause, but also gives students and teachers a new way to work together and learn values. This has been tried and accomplished in many communities with great success. Those communities have lower property taxes as well.

There could be a committee for school fundraisers, fire and police fundraisers, a committee for nursing home fundraisers and even a fundraising committee for the library and historical museums. The community does come together when a fundraiser not only helps the cause but also keeps there property taxes down. People are spending money, are receiving something in return, instead of handing over their money and receiving nothing in return for the most part. This type of community involvement does have its benefits, people enjoy the fundraising event and the community makes some money that is needed for whatever reason.

These are just some of the ways that property owners can help to keep property taxes lower. There are many more ways that people can contribute, they just have to think about how much they really want to help the community keep the taxes lower and organize ways to raise money or at least ask for votes on spending and district increases before the committee approves them. When people want to have lower property taxes anything is possible and when the community leaders are behind you, everyone wins. You just need to look for positive ways to lower the property taxes and speak up at public events that are held in the community.

Hopefully the sections above have contributed to your understanding of Property Taxes. Share your new understanding about Property Taxes with others. They’ll thank you for it.

About the Author
By Anders Eriksson, now offering the host then profit baby plan for only $1 over at Host Then Profit