In Washoe County, your property tax bill is payable in four increments with the final quarter for the 2022-23 tax year due March 6th. It makes me think that now is a good time to give you an overview of property taxes in northern Nevada and how it differs from our neighbors in northern California. Property Tax 101 First, let’s quickly review property tax in general. Depending on where you live, they can be a minor cost or a fairly …
Category: property taxes
If you’re buying a home, property taxes have to be on your radar. Even once you’ve paid off your mortgage or never began with one, you’re on the hook for yearly property taxes and the rates vary greatly from state to state. But where do people pay the most? What do property taxes average in your city? Let’s get to it. What’s a Property Tax, Again? These are the fees real estate owners pay to the county (or other local …
We’ve posted about this before, once wrong, but corrected it right away! It’s funny, but I hear the misinformation fairly often… some people are afraid about what happens after you ask for your properties taxes to be reassessed based on declining values. I hear it from the general public and even some veteran agents! There’s confusion out there, and let’s talk about. So, Proposition 13, also know as the People’s Initiative to Limit Property Taxation, spearheaded by Howard Jarvis and …
If you believe your home may be eligible for a reduction in property taxes based upon a decline in value, there are two ways to go about it. An informal review by the Assessor’s office and/or a formal appeal with Assessment Appeals Board. The formal appeal, can be a complicated and time consuming but may be worth the effort for the savings in property taxes. Typically, the Assessor’s “valuation date” is January 1, 2009 and any sales comparables submitted must …
As we first reported back in September of last year (courtesy of the ‘head’s up’ from Gordon over at Plan C), it looks as though Phil Ting from the San Francisco Real Estate Assessor office is looking to make good on his offer to help clarify the oft confusing, record keeping nightmare facing many Tenancy in Common owners come tax time. As it stands, there is one stunning tax bill sent out to all Tenancies in Common, regardless of how …
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