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Understanding Property Taxes: How They Impact Homeownership

Monday, May 8, 2023   /   by Michael Szakos

Understanding Property Taxes: How They Impact Homeownership

If you're a homeowner, or thinking of becoming one, you've probably heard of property taxes. But do you really understand what they are and how they affect your ownership experience?

Let's start with the basics: property taxes are taxes paid on the value of real estate. These taxes are usually collected by local governments and are used to fund various public services, such as schools, roads, and parks.

As a homeowner, you'll be responsible for paying property taxes on your home. The amount you pay is based on the assessed value of your property, which is determined by local government officials. Generally, the higher the assessed value of your home, the higher your property taxes will be.

So, how do property taxes affect your ownership experience? For starters, they can add a significant amount to your monthly expenses. Depending on where you live, property taxes can range from a few hundred to several thousand dollars per year.

Additionally, property taxes can impact the value of your home. If property taxes in your area are high, it could make your home less desirable to potential buyers. On the other hand, if property taxes are low, it could make your home more attractive to buyers.

To ensure you're not caught off guard by property taxes, it's important to factor them into your budget when considering a home purchase. You should also keep in mind that property taxes can increase over time, so be prepared for that possibility.

If you're interested in learning more about property taxes and other important aspects of home ownership, we invite you to order our free special report entitled "Fixer Uppers: Myths & Facts - What You Should Know Before You Buy". This report was written by real estate industry experts and is packed with valuable information to help you make informed decisions about your home purchase.

Order your free report today and take the first step towards becoming a confident and knowledgeable homeowner!
Team Szakos
Michael Szakos
1893 Knoll Drive
Ventura, CA 93003
DRE# 01473073

Based on information from California Regional Multiple Listing Service, Inc. as of June 1, 2023. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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