From Debt Free Dude
Property taxes are taxes paid to the government on property you own. Usually the property that is taxed is land and buildings.
- How can I lower my property taxes?
- Make sure the county has the correct information. Sometimes they may incorrectly list outbuildings or other features of your property. You can sometimes reduce property taxes by tearing down old buildings that you no longer need.
- Do renters pay property taxes?
- Not directly. The property owners pay property taxes so they usually factor it into the price the charge in rent.
- Can property taxes go up rapidly?
- Yes, but in some areas they can only go up by a fixed percentage each year as long as the house is owned by the same person. Once the house sells it resets and can go up to whatever the area rates are currently.
- Willing remodeling my house increase my property taxes?
- In many cases yes. Property taxes are usually based on the value of your property. Anything you do to increase the value of your property will potentially increase the amount of taxes you pay.