Property taxes

Inequities From Property Tax Limits Grow With Rising Home Values, Report Shows

Retrieved on: 
Wednesday, June 30, 2021
Tax, Income tax in the United States, Property taxes, Income tax, Taxation in the United States, Property tax in the United States

The 50-State Property Tax Comparison Study explores several key factors influencing property taxes, providing a comprehensive analysis of effective property tax ratesthe tax paid as a percentage of market valuein 123 cities and towns in every U.S. state and Washington, DC.

Key Points: 
  • The 50-State Property Tax Comparison Study explores several key factors influencing property taxes, providing a comprehensive analysis of effective property tax ratesthe tax paid as a percentage of market valuein 123 cities and towns in every U.S. state and Washington, DC.
  • Cities with high local sales or income taxes do not need to raise as much revenue from the property tax and thus have lower property tax rates on average.
  • Cities with low property values need to impose a higher tax rate to raise the same revenue as cities with high property values.
  • Highest and Lowest Effective Property Tax Rates on a Median-Valued Home Among Largest Cities in Each U.S. State (2020)

Pappas: 196,925 people must pay Cook County property taxes today to avoid late fees

Retrieved on: 
Monday, May 3, 2021
Tax exemption, Tax, State taxation in the United States, Sales taxes, Property taxes

"You may also verify your property tax exemptions, which lower the tax bill.

Key Points: 
  • "You may also verify your property tax exemptions, which lower the tax bill.
  • Homeowners may be missing out on $46 million in exemptions.
  • "\nTo search for refunds or missing exemptions, visit cookcountytreasurer.com:\nOr the results under "Have You Received Your Exemptions in These Tax Years?"
  • Late payments are charged 1.5 percent per month, as required by Illinois law.\n'

Pappas: 203,472 people must pay Cook County property taxes by May 3

Retrieved on: 
Saturday, May 1, 2021
Tax, Tax exemption, Property taxes, Taxation in the United States, Taxation in California

b'CHICAGO, April 30, 2021 /PRNewswire/ -- About 203,472 property owners must pay the First Installment of their Cook County property taxes by May 3, 2021, to avoid late fees charges imposed by state law, Treasurer Maria Pappas said today.\n"Taxpayers like my website because they can pay their taxes online after the office is closed," Pappas said.\nPayments made at cookcountytreasurer.com before 11:59 p.m. by May 3 will be recorded as on time.\n"You may also use the website to search $76 million in available refunds going back 20 years," she said.

Key Points: 
  • b'CHICAGO, April 30, 2021 /PRNewswire/ -- About 203,472 property owners must pay the First Installment of their Cook County property taxes by May 3, 2021, to avoid late fees charges imposed by state law, Treasurer Maria Pappas said today.\n"Taxpayers like my website because they can pay their taxes online after the office is closed," Pappas said.\nPayments made at cookcountytreasurer.com before 11:59 p.m. by May 3 will be recorded as on time.\n"You may also use the website to search $76 million in available refunds going back 20 years," she said.
  • "You may also verify your property tax exemptions, which lower the tax bill.
  • Homeowners may be missing out on $46 million in exemptions.
  • "\nTo search for refunds or missing exemptions, visit cookcountytreasurer.com:\nLate payments are charged 1.5 percent per month, as required by Illinois law.\n'

Keller Williams Heritage and Home Tax Shield Team Up to Provide Property Tax Relief to Homeowners

Retrieved on: 
Tuesday, April 6, 2021
San Antonio, Keller, Corporate tax avoidance, Property taxes, Taxation in California, Tax, International taxation, States of the United States

SAN ANTONIO, April 6, 2021 /PRNewswire/ --Home Tax Shield (HTS), a San Antonio-based property tax tech company, and Keller Williams Heritage, a San Antonio-based real estate brokerage, are partnering to bring professional property tax services to San Antonio homeowners.

Key Points: 
  • SAN ANTONIO, April 6, 2021 /PRNewswire/ --Home Tax Shield (HTS), a San Antonio-based property tax tech company, and Keller Williams Heritage, a San Antonio-based real estate brokerage, are partnering to bring professional property tax services to San Antonio homeowners.
  • San Antonio homeowners can contact their Keller Williams Heritage agent for an exclusive sign-up link.
  • "We're thrilled to partner with Keller Williams Heritage to deliver professional property tax services to their clients in the San Antonio area.
  • Home Tax Shield's platform simplifies the annual property tax appeal process for homeowners, ensuring they pay a fair property tax and often helping reduce their property tax bill.

Black Homeowners Earned $59,000 in Home Equity in 2020, Compared With $50,000 for White Homeowners

Retrieved on: 
Tuesday, March 9, 2021
Housing in the United States, Property taxes, Taxation in California

That's compared with $257,000 for Asian homeowners, $113,000 for white homeowners and $102,000 for Hispanic homeowners.

Key Points: 
  • That's compared with $257,000 for Asian homeowners, $113,000 for white homeowners and $102,000 for Hispanic homeowners.
  • Even though Black homeowners still have less equity than white homeowners, the home-equity gap between Black and white Americans is narrowing.
  • Home equity increased 191% for Hispanic homeowners, 79% for white homeowners and 44% for Asian homeowners.
  • Black homeowners starting out with lower equity than the other races is a key reason for the larger percentage jump.

New Study Highlights Economic Fallout from California's 2012 Tax Hike

Retrieved on: 
Monday, February 22, 2021
Tax, Property taxes, International taxation, Taxation in California

"The academic literature on Proposition 30 is among the strongest evidence we have that behavioral responses to tax hikes occur disproportionately among the wealthy," said Andrew Mikula, author of " How a 2012 income tax hike cost California billions of dollars in economic activity ."

Key Points: 
  • "The academic literature on Proposition 30 is among the strongest evidence we have that behavioral responses to tax hikes occur disproportionately among the wealthy," said Andrew Mikula, author of " How a 2012 income tax hike cost California billions of dollars in economic activity ."
  • The new paper draws on a 2019 study from the National Bureau of Economic Research that examined behavior responses to Proposition 30, finding that such responses "eroded 60.9% of [new] tax revenues by [the law's] second year."
  • If we pass the graduated income tax, every other New England state will boast lower top income tax rates than Massachusetts.
  • Mr. Mikula was previously a Lovett & Ruth Peters Economic Opportunity Fellow at Pioneer Institute and studied economics at Bates College.

Pappas: Which properties have the biggest property tax increases since 2000? If you didn't vote … Don't complain.

Retrieved on: 
Tuesday, January 5, 2021
Property taxes, Taxation in California, Tax, Government, Economy, Taxation in the United States, California Proposition 13, Property tax in the United States

Called "The Top 50," the report lists the 50 Property Index Numbers (PINs) with the largest tax increases from 2000 to 2019 in Chicago and the suburbs, both residential and commercial.

Key Points: 
  • Called "The Top 50," the report lists the 50 Property Index Numbers (PINs) with the largest tax increases from 2000 to 2019 in Chicago and the suburbs, both residential and commercial.
  • Just follow these steps:
    The Top 50 report also breaks down the 50 largest residential and commercial property tax increases in each of Chicago's wards.
  • The report analyzed the property tax bills for PINs which did not change property tax classifications from 2000 to 2019.
  • For residential properties, the report analyzed properties with only a Homeowner's Exemption and excluded properties with other property tax exemptions, such as the Senior Citizen Exemption, which affect the change in tax bills.

Lower Mainland 2021 Property Assessments in the Mail

Retrieved on: 
Monday, January 4, 2021
BC Assessment Authority, Property taxes

BC Assessments website at bcassessment.ca includes more details about 2021 assessments, property information and trends such as lists of 2021s top valued residential properties across the province.

Key Points: 
  • BC Assessments website at bcassessment.ca includes more details about 2021 assessments, property information and trends such as lists of 2021s top valued residential properties across the province.
  • The website also provides self-service access to a free, online property assessment search service that allows anyone to search, check and compare 2021 property assessments for anywhere in the province.
  • Changes in property assessments reflect movement in the local real estate market and can vary greatly from property to property.
  • BC Assessments website provides a listing of property assessments and sales to help property owners understand their property's market value and provide comparable sales information.

Vancouver Island 2021 Property Assessments in the Mail

Retrieved on: 
Monday, January 4, 2021
Property taxes, Property, BC Assessment Authority, Tax, Law and economics, Property tax in the United States, Special assessment tax

Over 98% of property owners typically accept their property assessment without proceeding to a formal, independent review of their assessment.

Key Points: 
  • Over 98% of property owners typically accept their property assessment without proceeding to a formal, independent review of their assessment.
  • Changes in property assessments reflect movement in the local real estate market and can vary greatly from property to property.
  • BC Assessments assessment roll provides the foundation for local and provincial taxing authorities to raise billions of dollars in property taxes each year.
  • BC Assessments website provides a listing of property assessments and sales to help property owners understand their property's market value and provide comparable sales information.

Thompson Okanagan 2021 Property Assessments in the Mail

Retrieved on: 
Monday, January 4, 2021
Property taxes, Property, BC Assessment Authority, Tax, Law and economics, Property tax in the United States, Special assessment tax

Over 98% of property owners typically accept their property assessment without proceeding to a formal, independent review of their assessment.

Key Points: 
  • Over 98% of property owners typically accept their property assessment without proceeding to a formal, independent review of their assessment.
  • Changes in property assessments reflect movement in the local real estate market and can vary greatly from property to property.
  • BC Assessments assessment roll provides the foundation for local and provincial taxing authorities to raise billions of dollars in property taxes each year.
  • BC Assessments website provides a listing of property assessments and sales to help property owners understand their property's market value and provide comparable sales information.