Category: Property Tax
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End-of-Year Checkup: Don’t Miss Your Deadline to Apply for Property Tax Rebates
Paying property tax isn’t getting easier. Taxable home values have shot up. Home equity appreciation is nice, but it also comes with a downside: higher taxes. Let’s not miss any rebates that could be available for the asking.
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Mortgage Company Paying Your Property Taxes Out of Escrow? Check.
Most home buyers get a mortgage loan to finance the purchase. And for most people, the mortgage servicing company holds some of the owner’s payment in escrow, and pays property taxes out of that account on behalf of the borrower as long as the mortgage exists. But what if the mortgage servicer lets a tax…
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A Ray of Sunshine for Older and Disabled Residents: Pennsylvania’s Amped-Up Property Tax Assistance Can Help
Getting over the hurdle of property tax payments is harder these days. That’s because taxable home values have gone up. So older Pennsylvanians are praising their governor, Josh Shapiro, for signing Act 7 of 2023 into law. It enlarges Pennsylvania’s Property Tax / Rent Rebate (PTRR). Hundreds of thousands of people — those who own,…
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Property Tax Breaks for Older Homeowners (New Changes for NJ, PA, and MD Seniors)
For some seniors and people with disabilities, property taxes can feel like the proverbial last straw on the camel’s back. On the other hand, local governments need funding. They tax their residents to fund resources like emergency response departments, schools, and libraries. How much will you owe in property taxes? It depends on what your…
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Welcome News: Some States Are Helping Seniors Defer Their Property Taxes
Taxes keep going up, following property values. But some homeowners — and buyers — can tap into county or state property tax breaks. Some states exempt seniors from property tax. Some states let eligible homeowners put off paying property taxes — in many areas, for as long as they own the home. An exemption doesn’t…
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Montana Property Tax Going Up? Not So Fast.
Property prices are surging most everywhere. And when property values rise, taxes — charged based on a percentage of property values — rise right along with them. So, confronting property tax hikes has become a rallying cry in many states. Montana is no exception. And now, a former Montana legislator has submitted a proposed ballot…
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Illinois Property Taxes Are Ridiculous. A 2021 Change Helps Some Seniors, But Cook County Assessment Scandals Add to Challenges
Property taxes are a test of strength for most homeowners. For people on fixed incomes, rises in property values — and thus taxes — can be dastardly. Now, imagine people on fixed incomes who just happen to live in Illinois. Illinois ranks #2, after New Jersey, for highest property taxes in the nation, according to a…
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Do-It-Yourself Stimulus? The Rise of the Property Tax Protests
For years running, Texans have been protesting their property taxes. This year (2021), Texas homeowners had until May to object to their county assessors’ valuations of their homes. When they win their cases, their homes’ market prices don’t change. But their tax bills do. County procedures enable Texas homeowners to contest their property tax assessments.…
