04
Dec
By Adrian Willanger
Homeowner Tips, ,

How to Appeal Property Taxes on Your Home

Many homeowners are surprised when they receive their annual property tax bill and notice an increase that feels higher than expected. The good news is that you have the right to appeal your property tax assessment if you believe it does not reflect the true value of your home. Understanding the process can help you protect your budget and ensure that you are being taxed fairly. Know What Your Assessment MeansYour property tax bill is based on the value assigned to your home by your local tax authority. This value may not match the current market value. It is an…
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23
Oct
By Adrian Willanger
Home Buyer Tips, ,

The Hidden Costs of Homeownership and How to Prepare for Them

Buying a home is one of life’s biggest milestones, but it also comes with ongoing responsibilities that many first-time buyers overlook. The purchase price and mortgage are only part of the picture. Once the excitement of closing day fades, new homeowners often discover a range of hidden costs that can affect their monthly budgets and long-term financial stability. Regular Maintenance and RepairsEvery home, no matter how new, requires upkeep. From cleaning gutters to servicing heating and cooling systems, routine maintenance helps prevent expensive problems down the road. Experts often suggest setting aside one to three percent of your home’s value…
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10
Sep
By Adrian Willanger
Home Buyer Tips, ,

How Property Taxes Are Calculated and What Every Buyer Should Know

When you are planning to buy a home, there is one number that should never be overlooked: property taxes.Property taxes can have a big impact on your monthly budget and your long-term costs of ownership. Whether you are buying your very first home, moving to a new area, or considering an investment property, it is important to understand how these taxes are calculated. Knowing what to expect will help you avoid surprises and give you a clearer picture of what you can comfortably afford. Property Taxes ExplainedAt the most basic level, property taxes are based on two things, the assessed…
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13
Mar
By Adrian Willanger
Home Mortgage Tips, ,

The Role of Mortgage Escrow Accounts in Property Tax and Insurance Payments

A mortgage escrow account, also known simply as an escrow account, is a financial arrangement set up by a mortgage lender to manage and disburse certain payments related to the property on behalf of the homeowner. The purpose of an escrow account is to ensure that essential expenses, such as property taxes and homeowners’ insurance, are paid on time. Here's how a mortgage escrow account works: Creation of Escrow Account: When you obtain a mortgage loan, your lender may require you to establish an escrow account. This account is typically separate from your mortgage loan account. Monthly Payments: As part…
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21
Feb
By Adrian Willanger
Real Estate, ,

A New Homebuyer’s Guide to Understanding Property Taxes

Purchasing a new home is an exciting milestone, but it also comes with various responsibilities, including understanding property taxes. Property taxes are a crucial aspect of homeownership, as they contribute to local government funding and services. In this guide, we'll break down everything you need to know about property taxes as a new homebuyer. What Are Property Taxes? Property taxes are taxes imposed by local governments on property owners. These taxes are based on the assessed value of real estate properties, including land, buildings, and improvements. The revenue generated from property taxes is used to fund essential services such as…
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10
Aug
By Jim Hasek
Mortgage, ,

Disputing Your Property Tax Assessment Can Save You Money

Property taxes can be a substantial financial burden for homeowners and property owners. Each year, local governments assess the value of properties to determine the amount of property tax owed. However, these assessments are not always accurate and can result in higher tax bills than necessary. Disputing your property tax assessment is a proactive way to potentially save money and ensure you're paying a fair and equitable amount. Reasons for Flawed Assessments: Property tax assessments are not immune to errors and discrepancies. Several reasons can lead to an inaccurate evaluation of your property: Market Value Misjudgment: Assessors may rely on…
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