Understanding Your Property Tax

Property Tax Consulting Course

Learn everything you need to know about Property Tax Consulting in this detailed and carefully-written ebook. You will learn how to set up your business legally and quickly, and what states you need special permissions and licenses in. You will also learn how much you should be billing and what kind of contingency fees you can charge to your clients. Not only will you learn what you should charge clients; you will also learn how to attract your first clients when you start your business. And you DON'T have to be an expert in the Property Tax Consultant business when you start out; you can quickly learn what you need to know as you go along. You can become an expert very quickly It usually only takes one client to become proficient! You will always have business; the property tax field is FULL of people who are interested but know very little. You can take advantage of this market gap! More here...

Property Tax Consulting Course Summary


4.6 stars out of 11 votes

Contents: Online Course
Author: George Evers
Official Website: www.propertytaxconsult.com
Price: $179.00

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My Property Tax Consulting Course Review

Highly Recommended

I started using this ebook straight away after buying it. This is a guide like no other; it is friendly, direct and full of proven practical tips to develop your skills.

All the testing and user reviews show that Property Tax Consulting Course is definitely legit and highly recommended.

Property Tax Reduction

Do you suspect that you're paying too much in property tax? This property tax appeal guide is designed for the average homeowner to take matters into their own hands and present their case against the local government. You will learn what you need to assemble to figure out Exactly how much tax you should be paying, and learn if you are being charged too much. You need to know that the government will not come and try to figure out if you're paying too much They'd prefer that you did! You will learn how to Prove that you're paying too much and appeal that amount down. You will also learn how to appeal an assessment that Still says you need to pay too much. This guide helps you make sure you're paying what's fair, and does not let the government take advantage of you. Start paying only what you deserve today!

Property Tax Reduction Summary

Contents: Ebook
Author: George Evers
Official Website: housetaxax.com
Price: $39.00

Property Taxes

Many borrowers have complained that their servicer failed to pay property taxes on time. Some found that when the company got around to paying the bill, the late payment was deducted from their escrow account. If you get tangled in that kind of mess, write to both the lender and the taxing authority. You may have to wrestle with the lender to get him to pay what he's already taken your money for, and persuade the taxing authorities to stop harassing you over a problem you didn't create.

What Are the Pros and Cons of Condo versus Coop Living

With a co-op, however, an underlying mortgage is typically held by the corporation on the overall structure. That means that if you can't make your monthly payments to cover your portion of the mortgage debt, the other owners must make up what you can't pay in order to meet the monthly mortgage payment. The same holds true for property taxes and insurance. If too many owners can't pay, then the remainder might not be able to make up the difference and the entire project could conceivably go into foreclosure.

Finding Tenants In Dark Times

Who ever wanted to buy a home, even people with bad credit, could now do it. And we had 12 vacant homes. Twelve mortgage payments and other expenses such as property taxes, insurance and maintenance, without rental income to cover them, can be a problem. At an average of 1,200 to 1,500 per property, that amounts to 15,000 to 18,000 per month of cash-flow shortfall we'd have to compensate for. That's tough for anyone to sustain.

What If You Cant Sell

Temporary or not, you become a landlord in the eyes the IRS. And, as you would expect, the IRS demands that you treat the rent you receive as income, assuming you rent the place for more than 14 days during the year. (Rent the place for 14 days or less and you can pocket the rent payments tax-free.) You may be able to offset the tax bill on the rental income completely, however, with deductions for rental expenses including the continued mortgage interest and property-tax payments on the house, the cost of repairs and even depreciation.

The Dangers of Overpricing

In jurisdictions where there is a tax on the transfer of property, you can determine the sales price of a house by the tax paid. For example, if the tax or fee is 0.1 of the sales price and the transfer fee is 88, then the price paid was 88 divided by .001, or 88,000. You'll find the information you need at the courthouse or city real estate tax office.

Study the Comparables

Try to find at least three comparables no more than six months old. Sale prices of homes are published in local or regional sections of newspapers. Information on home sales is available at the courthouse or city real estate tax office. You won't learn anything at the tax office about the terms of the sale, the style of the house or how long it was on the market. If you are going it alone, your best bet is to copy the names and contact the buyers and sellers yourself.

Real Estate Acquisition Program Reap

Reap Real Estate Acquisition Program

After entering all the pertinent details of a property, including the purchase price, rental income, vacancy rate, property taxes, management fees, maintenance costs, homeowners association fees, and mortgage details, REAP generates seven reports (numeric as well as graphical) to provide an indication of how the property is likely to perform. The reports include details on the cash-on-cash returns (both before and after tax) and the internal rate of return.

Why Do I Have to Pay Taxes on My Purchase

It's the only thing that's certain, besides death You do not have to pay sales tax (at least not yet ) in any area of the country that I know of, although some states do charge a usually nominal transfer tax. But you do have to pay property taxes. The escrow company prorates your share of the year's taxes. Proration simply means that if the sellers have already paid taxes in advance, you pay them back for that portion of time that you own the property.

How Big a Loan

You'll get closer to reality by applying some of the same tools lenders use to evaluate the creditworthi-ness of prospective buyers. One common method is to apply a number of ratios to gross monthly income. For example, if you are making a 10 down payment, you may be allowed to devote up to 28 of gross (pretax) monthly income to housing expenses (including mortgage, property taxes, insurance, fees, utilities and maintenance). However, your combined housing expenses and installment-debt obligations may not exceed 36 .

Motivated Sellers

Many home owners, seeing values rise dramatically, immediately borrow against the new equity, thinking they can do this because they are now richer. However, they forget two things. First, a larger loan means higher mortgage payments. Second, in the exuberance of rising house prices, owners often forget that as a consequence, property taxes can rise accordingly. This further dents their monthly cash flow.

Required Reading

The lease sets up the terms and conditions by which you occupy your co-op unit. It obligates you to pay your pro rata share of the corporation's expenses, including real estate taxes, operating costs and debt. Rules on using your unit, subleasing and maintenance also are found in the agreement.

Touring the House

You probably know your wants and don't-wants list well enough that you won't need to take a checklist with you, but by all means take a notepad and tape measure. At most open houses you will find an information sheet about the house. The most complete spell out such things as square footage of lot and house, room sizes, property taxes, average monthly utility bills, and the ages of appliances and major mechanical systems, as well as the number of bedrooms and baths, and other basic data.

The Costs You Face

ITEMS TO BE PAID IN ADVANCE AT CLOSING. Among them are mortgage interest, property taxes, and mortgage- and hazard-insurance premiums. In general, items paid for in advance by the seller, such as property taxes, would be prorated in favor of the seller at closing. Items paid in arrears interest on an assumed loan, for example would be prorated in favor of the purchaser. Six months' property tax (3)

Special Purpose Loans

A far simpler option is to take advantage of specialpurpose loans available from many local government agencies, nonprofit organizations and a few state governments. These loans are usually restricted to homeowners with limited incomes. The loans most often carry low or no interest, and can be used for property taxes or to pay for home repair, health-related modifications or in-home services. They need not be repaid until the house is sold or you die or move away permanently. The loans don't always involve cash. You might be able to defer paying your property tax by setting up a special account with a government agency. When you defer the tax, the account establishes a lien against your property for the amount of the tax, which will be payable when you sell the house or die.

Tax Lien Homes

Happens is that for one reason or another a property owner can no longer afford (or chooses not to pay) property taxes. Local and federal governments don't look favorably on this type of reneging. Property taxes always take precedence over mortgages, so government agencies frequently county officials advertise a date and list of properties where the outstanding property tax debt will be sold as a lien that takes priority over any mortgage. The chances of getting the house are therefore greater if there is no mortgage on the property. Then again, if there is no mortgage, the owners usually have plenty of cash, and nonpayment of property taxes is more of an oversight than a result of shortage of funds.

Hire A Title Agent

Gene felt confident he could interpret the title report and didn't need to pay a title company to do something so trivial. With real estate, it pays to do your due diligence on all aspects of the transaction. All payments appeared up to date. However, we discovered after we had bought the property that while property taxes had been paid for the current year and the year prior, the property taxes for the year prior to that were still in default. The amount involved was a hefty 5,000. The house was headed for a tax lien sale, and we discovered this only after we had acquired the property. We had no alternative but to pay the 5,000.


The contract should state that property taxes (among other things) will be prorated to the closing date. Prorating is a method of equitably dividing continuing expenses, such as mortgage interest, property taxes and insurance, between buyer and seller. Government-backed loans and conventional mortgages may not prorate the same way, but in general it works like this In January, Mr. Owner pays the annual premium on his homeowners insurance policy. He then puts his house on the market and sells it he and the buyer

Local Assessments

In addition to real estate taxes, it is not unusual for local governments to assess homeowners for services or benefits provided during the year. Such bills need to go in your home file because, depending on what the charge is for, the cost may be either a deductible expense or an addition to your basis.

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The best part is you do not have to wait for Property Tax Consulting Course to come in the mail, or drive to a store to get it. You can download it to your computer right now for only $179.00.

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