Recently, I have been flooded with calls and have many clients demanding answers. They are skeptical of homes in our hot Houston real estate market because the asking price varies so greatly from Harris County Appraisal District's value. It's exciting for me to see so many people educating themselves and seeking out information but have found this sometimes causes excess worry. There are a conside...
If you are lucky enough to own a home in one of the many area's of Houston that are experiencing large increases in value, then your house is probably worth a lot more than you initially paid for it. This mean when you come to sell, the tax man is naturally going to want his share of the "profit" you made on your property. Luckily for you there are some ways to legally reduce or even avoid p...
Your date with Harris County Appraisal District (HCAD) has been set! (well for most of us)....Call or check online to make sure your date has been set. There is a long list of homeowners and business owners who will be protesting their property taxes. So, if you're date has not been set yet, no fear - your time will come... for the first protest hearing. The Informal:The ini...
Follow the Rules for a Tax-Free Home Sale
When you are ready to sell your home you
are probably focused on your potential profits, particularly if you plan to buy
another home with the proceeds from
While REALTOR® commissions and other closing costs will
impact how much you keep from the transaction, fortunately, if you’re like most
sellers, you ...
A homestead exemption helps you save on taxes on your home. An exemption removes part of the value of your property from taxation and lowers your taxes. For example, if your home is valued at $100,000 and you qualify for a $20,000 exemption, you pay taxes on your home as if it was worth only $80,000.
An Application for Residential Homestead Exemption (same form for over-65, disability, over-55 su...
Supposed mail from the IRS referring to past due property taxes or a property tax lien is a scam, according to Kaufman County Tax Assessor-Collector Tonya Ratcliff.Some area residents reported receiving paperwork claiming they owed a large sum in property taxes but would settle for a lesser amount. The letter “makes out like (the resident) has an IRS bill related to their property tax and they owe...
Have you received your 2014 assessed property value from the County's Appraisal District office for your area? Did you notice an increase in 2014 assessed value assigned to your property (compared to 2013)? Many homeowners will see an increase and may be please to know that property values are back on the rise after several years of nose diving values. But an increase in your ass...
Do You Avoid Paying a Capital Gains Tax on Real Estate?
QUESTION: I’ve owned my home for more than 25
years in a neighborhood that has been revitalized, so now it’s worth a lot more
than it was when I bought it. I want to sell it and move someplace else, but
I’m worried about the taxes. How do you avoid paying a capital gains tax on
When protesting Your property taxes I think there is no exact
secret besides being well prepared with facts and present your case with
Some of the largest companies in America are swapping their suburban campuses for downtown office space, betting that such a move will help them recruit new employees.
Corporate giants such as Motorola, United Continental Holdings Inc., Hillshire Brands Co., and others have recently left their suburban digs to set up shop in urban cores. Tech and online companies such as Pinterest Inc. are leavin...
Have you taken a look at your 2014 property-tax
If not, now would be a good time to do it – you
only have until the end of this month (May) to file a request for
Texas law allows a property owner the
opportunity to protest their appraised value. You can do that in one of
three ways: 1) schedule a formal protest meeting with your central apprais...
The U.S. Taxpayer Advocate has officially complained to Congress that the IRS is harming taxpayers when it imposes tax liens on homes.National Taxpayer Advocate Nina Olson reported that IRS agents only consider income and expenses—not other debts—when sizing up a delinquent taxpayer’s ability to pay.Research from Olson’s office also shows that tax liens don’t boost revenue collection.Mea...
The city of Detroit recently unveiled a website to auction off
vacant homes seized in tax foreclosures. There are 15 homes up for grabs
right now, and one will be auctioned off each day starting May 5. The
starting bid for each home is $1,000, and the city is requiring any
winning bidder to rehabilitate the home within 30 days of possession and
have it occupied within six months, CNNMone...
Home owners spend an average of about 1.4 percent of their home’s
value (or around $2,800) on annual property taxes. But in some areas,
that number is much higher.
Home owners in New York, New Jersey, and Colorado, pay more than five
times the national average, according to a new study of the average
real estate taxes paid on single-family housing in 2012, conducted by
Zillow. The study...