Property Taxes

A homestead exemption is a provision that helps certain taxpayers reduce their property taxes (and protect the homestead from creditors) following the declaration of bankruptcy or death of a spouse. The exemption lowers the taxable value of a property by a certain amount. This is done based on a graduated scale. That means that lower […]

As a first-time homeowner, you may be aware of some of the additional costs of homeownership. This includes mortgage closing costs, homeowner insurance, monthly mortgage payments, and utility bills. However, one of the costs that rookie homeowners often overlook is property taxes. This is a simple tax on real estate properties. The amount is determined by […]

While most of us are necessarily familiar with our income taxes (if only because we’re hoping for a refund), not too many people excitedly follow their property tax value. That’s kind of a shame, because the National Taxpayers Union estimates that 60 percent of homes are overvalued for property tax purposes, while only 2 percent of […]

While owning a home has widely been considered the American dream and one of the best ways to build long-term personal wealth, the tax benefits of buying and owning a home are often overlooked and not considered. There are various different tax benefits available to homeowners that are not available to renters. These tax benefits typically save homeowners thousands of dollars per year in federal income tax liability. While there are many tax incentives available to taxpayers, owning a home is the greatest tax benefit of all.