Property taxes are money paid on the value of properties. The local government in the location of this property takes full responsibility in the levied of this tax by the jurisdiction of that municipality. This tax should not be confused with the rent tax (it depends on the rental income while the property tax depends on the value of the property).
However, it does not only depend on real estate values, but also on the value of the transaction (sales of property). Nevertheless we can also see it when a property is been inherited (inheritance tax) which is paid annually.
Contact us today and we can potentially connect you with a great resource who may be able to lower your property taxes. Most real estate agents know how to contest the amount of property taxes that are owed by assessing your home’s value.