Know The Property Taxes Before You Buy

Knowing the property taxes that you will pay is a key fact in evaluating the cost of owning a home.

The listing information on a property usually includes the prior year’s property taxes.  If this information is not included, contact the local assessor’s office, or ask your real estate professional about obtaining the figure and documentation from the seller.

Figures will change tax rates vary, so factor that into your budget.  Remember that tax payments and mortgage interest are usually deductible from your Federal income taxes.

Your real estate professional may have advice about additional tax liabilities or benefits for a particular property.

You might also like