What is your opinion on paying real estate tax after the home is paid in full?

Favorite Answer

Thankfully there are programs out there to assist in some situations. There are the citizen senior exemptions and freezes, there is also circuit breaker. I have many senior citizen clients, or disabled elderly clients that I feel should have some form of assistance. Some townships offer different forms of assistance also....Show more

Actually, just because you own your home doesn't mean that you stop paying taxes on it. If you are retired, most States have special deals for the elderly. If you are fully disabled and you are under the age to be illegible for Social Security, then there are other programs out there to help you. If you are already on Social Security then you are in trouble and I would talk to the local programs for the elderly to see what can be done....Show more

My first question is: What happens in case you do not make any revenues and you basically save drawing from the draw account each month? it style of sounds like they might style of have you ever over a barrel. Can they call for that returned finished and payable at it sluggish? What in case you ran up a huge draw account and then got here across a extra advantageous activity someplace else? it style of sounds such as you're trapping your self there for extremely a on the same time as till that draw account is paid down. basically to interrupt inspite of the draw account, at 2%, you will possibly would desire to close on $a hundred seventy five,000 nicely worth of revenues each month. Is that achievable? From what i've got considered on their internet site, it extremely is with reference to the final fee of their properties interior the Milwaukee section. yet, how many are there obtainable to sell and how many human beings are you competing with (different revenues human beings) to make those revenues? At $3500 a month, it extremely is $40 two,000 a 300 and sixty 5 days. So, you're probable interior the 28% tax bracket. i don't be conscious of what you pay in state taxes. yet, permit's say the finished deduction is 40%, once you artwork in social risk-free practices, disability, state taxes, etc. it extremely is $25,2 hundred a 300 and sixty 5 days or $2100 a month. they appear as if a sturdy enterprise and that they've places everywhere in the U. S.. If it sounds like something you think of you will desire to excel at, choose for it. basically ensure you discover out what happens in case you circulate away the enterprise and nevertheless owe them money....Show more

I agree with the first answer. Just because my house is paid in full does not negate me from paying real estate taxes. Look where those taxes go, they go to pay for our public education, parks, libraries, water and sewer maintenance, and other things....Show more