Property Taxes

When a person owns a property, he must pay property taxes. These taxes are separate from school or village taxes. Property taxes also might be called land taxes. If you wish to stop paying property taxes or can't make payments, some options exist. more »

Property tax is a government levy that is typically based on the value of land and related improvements, such as homes or other buildings an individual owns. Some jurisdictions also impose property taxes on vehicles and other forms of personal property.

The amount of property tax one must pay depends on two factors:

* The... more »

When an individual applies for a mortgage, that mortgage is composed of four elements, which are commonly referred to as PITI. The principal and interest fees associated with the home are paid to the mortgage company. The second "I" stands for homeowner's insurance, which typically must be purchased before the lender will approve the... more »

Since the 1930's, states have used the local property tax to fund schools. Depending on where you live, school taxes may make up as little of 10 percent or as much as half of your total property tax bill. Other parts of property taxes go to support local services such as emergency services, utilities and water and sewer service.... more »

The only government that most people encounter on a daily basis is local. Education, police, fire protection, libraries, parks, streets, water and sanitation are all operated by local governments. Most of the services that we consider "essential" are funded within the community that uses them---and much of the funding comes from local... more »