If you ask many homeowners about their property taxes, they’ll probably say they pay too much. Property taxes are real estate taxes imposed by local governments and paid by homeowners. They are classified as ad valorem, which means they are assessed based on the value of your property. Property taxes increase as property values rise […]
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Introduction Cities, counties, and school districts levy property taxes on properties within their jurisdictions, which are then used to fund services. These levies are combined to compute a region’s property taxes and the total tax rate, known as a mill rate. This rate is multiplied by a property’s assessed value, resulting in higher payments for […]
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Introduction According to Bank of America economists, the housing market is unlikely to recover for several years, and affordability will only improve if a recession occurs. In a mainly bearish perspective on the industry, the bank sees several factors working against both a significant increase in sales and a price drop that might entice younger […]
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Introduction The typical newly built house on the market now is smaller than those for sale a decade ago. Whether this is a positive or bad omen depends on your priorities for your future home. According to Census Bureau data, a single-family home under construction in the first quarter of 2024 had a median floor […]
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Property taxes are levied on personal property owned by individuals or legal entities such as businesses. Property taxes are typically the greatest source of revenue for state and local governments. Each governmental unit determines its tax rate. Property taxes fund a range of important government programs and services. These funds support various programs, including local […]
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According to Freddie Mac, the average rate for a 30-year fixed home loan dropped from 6.87% to 6.86% for the week ending June 27. Mortgage rates continued to decline this week. Chief economist of Freddie Mac, Sam Khater, released a statement saying, “The 30-year fixed-rate mortgage continues to trend down, hitting the lowest level in […]
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Since the hurricane season is predicted to be more intense this year, homeowners should make necessary home preparations as the season continues. Specifically, the National Hurricane Center says 17-25 named storms in the Atlantic this year because of warm weather and La Niña. Beryl became the second named storm of the 2024 Atlantic hurricane season […]
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It’s not easy to find your ideal house. Even after investing a lot of time searching through internet postings, going to open houses, and seeing potential communities, you could not find anything. Maybe , there isn’t a house like your dream one yet. In this situation, constructing a home on an empty plot of land […]
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Introduction Following a dismal spring season and with a bleak outlook for the summer and fall, the housing market is showing few signs of emerging from its three-year slump. After a dip late in the previous year, home buyers were optimistic going into 2024 that mortgage rates would continue to decrease. However, better-than-expected inflation and […]
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