besides the value of your home
2006-08-17 14:12:35 · 11 answers · asked by big bos 1 in Business & Finance ➔ Taxes ➔ United States
Property taxes are value based tax. So, things that add value to your home should increase your property taxes.
The two fundamental aspects of value are the location of your home and its size. Other factors include the age of your home, your lot size, the number of bathrooms, fireplaces, finished basements, bedrooms, lot size, garage, shed, fence.
Subjective factors include the condition of your home and the quality of construction.
Remember that each of these may or may not contribute to the value of your home and, therefore, your assessment. Review your assessment record for factual errors. Review your neighbors assessment records for differences in subjective factors.
Ultimately, since your assessment should be based on value, the market value of your home should determine how much you pay in property tax.
2006-08-17 15:20:33 · answer #1 · answered by fatalleycat41 3 · 0⤊ 0⤋
Property taxes are often based on the tax appraiser's estimate of the value of your house. Note that this is often different than the fair market value your house may be worth to someone buying a house.
See the attached link for more info. Good luck!
2006-08-17 21:21:09 · answer #2 · answered by Joshua P 2 · 0⤊ 0⤋
Based on the assessed value of your property (land and any structures on it) times the millage wherever your property is located. Might be multiple property taxes e.g. county, municipality, school district. Each of these, depending on where your property is, might levy a certain millage of tax - you'd be responsible for paying all of them. Sometimes one tax bill will have more than one kind of tax on it, and show the total of all of them as the amount due.
2006-08-17 21:30:22 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
it's based on the value of your home. in california, they take 10% of the value and tax you that amount over the year. it's incredibly high!
2006-08-21 17:46:58 · answer #4 · answered by iloveanswers! 2 · 0⤊ 0⤋
The value of the land your home is on
2006-08-17 21:18:04 · answer #5 · answered by Anonymous · 0⤊ 0⤋
property taxes are based on how much your house is assessed for.
2006-08-17 21:18:30 · answer #6 · answered by Jim S 1 · 0⤊ 0⤋
size of your home (hence value) and property it is on including improvements.
2006-08-17 21:19:17 · answer #7 · answered by JENNLUPE 4 · 1⤊ 0⤋
value of land
and outside sheds or buildings
and the percentage that you pay in your area as certain areas are high and some are low
2006-08-17 21:31:02 · answer #8 · answered by Anonymous · 0⤊ 0⤋
assessment of your neighbor. for ex. if your neighbors add things like pools, patios, decks an addition, and so forth or new owners build a more expensive house in your area. things of that nature
2006-08-17 21:20:50 · answer #9 · answered by robwilson_4 2 · 0⤊ 0⤋
the county you live in
2006-08-17 21:29:49 · answer #10 · answered by Jim 2 · 0⤊ 0⤋