Buying A Home
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Anyone knowledgeable about property taxes?
I'm having trouble determining if there's a discrepancy in the listing of a house we're looking at or if public record isn't including the whole property in their tax amount.
Weichert.com and the property listings via MLS have one amount (X)
Zillow.com and public record have a lower amount (X-Y)
BUT public record has the property listed as 1 acre and the property being sold is 2 acres (Zillow does have it listed as 2 acres, but it's Zillow).
The extra acreage may explain the Y factor in the total taxes, but I'm not sure. Any input?
Re: Anyone knowledgeable about property taxes?
Go to the county's real estate tax assessment (check onlne to see if you can type in the address since its public information). Otherwise, call them on Tuesday to see what their current taxes are. Chances are, they will only give you the county taxes. You can call the city or township tax office and see if they will give you the citry and school taxes. If they won't, ask for the current millage rate for each and multiply that to the assessed value.
I've copied below from about.com
The amount of property taxes that you pay to each taxing body is calculated by multiplying the assessed value of your property by the millage rate set by each taxing body. In practice, a millage rate of 1 (one) mill means that you pay $1.00 (one dollar) in taxes for every $1,000.00 (one thousand dollars) of assessed value. For instance, if your home has a new assessed value of $100,000 and your municipality has set a new millage rate of 5 mills, your property tax bill would be $500.
To calculate your tax bill: First, convert the millage rate to its decimal equivalent to make the multiplication easier. [5 mills X .001 = .005 ] Then, multiply your new assessed value ($100,000) by the decimal equivalent of the millage rate (.005) to determine your tax bill. [$100,000 X .005 = $500]
Hope that helps
Zillow is notorioiusly inaccurate and MLS listings always say to verify the information.
Check with yourl city clerk's office
I do not trust Zillow. I would check with the city/county public records and contact their office for any questions. No matter what reasearch you can do online, they will have the most comprehensive answer. Discrepencies are not as common as we'd all like to think. Most of the time there is an explanation, you just have to dig around.
Sorry I couldn't help more!
Lighthouse State Beach, Santa Cruz.
This was it. I had our realtor verify.
Thanks for all your help, ladies!