Tag: Property Taxes

Millage rates are just one of the many specialized tax terms property owners are likely to encounter. While it's often used interchangeably to mean "tax rate," millage rates have some key differences. Here is a guide to understanding millage rates and a few other important pieces of property tax terminology: Millage rates Millage rate has nothing to do...

Ad Valorem

Levie

+ 4 more

Posted on 10/17/2022

Understanding PITI

PITI, which is short for "principal, interest, taxes and insurance," is an essential term to know for anybody seeking a mortgage loan. The acronym refers to the relationship between these four numbers expressed in a ratio and can tell lenders about your financial status. Here is a breakdown of the term and why it matters to potential homeowners...

Insurance

+ 7 more

Posted on 10/10/2022

Basic info to know about your supplemental tax bill

A supplemental tax bill is separate from your annual tax bill and may arrive at any time. But what exactly is a supplemental tax bill, and why do property owners pay them? Here is a guide to the key information to know about supplemental property taxes and the associated bills: Supplemental assessments A supplemental assessment is a change...

Property Taxes

Supplemental Assessment

+ 1 more

Posted on 06/20/2022

Property tax abatement: The basics

Property taxes are a major expense for most homeowners and would-be buyers, but property tax abatement programs can help. While not offered everywhere, many states, counties and cities offer abatement programs to alleviate this expense in several ways. Here is a short guide to property tax abatement to familiarize yourself with the basics: What does property tax abatement...

Property Tax Abatement

Property Taxes

+ 2 more