You are here:
- Home
- Real Estate
- Home Buying/Selling
- Buying or Selling a Home
- Property tax confusion
Buying or Selling a Home/Property tax confusion
Advertisement
Question
QUESTION: I’m confused by our property tax payment situation. Indiana has a “2009 pay 2010”approach, but it may be we’ve been paying property taxes on 70 acres when we own only two acres.
We bought a house in Nov 2009 in Indiana. For background, the seller split 70 acres into three parcels, our parcel being 2 acres with a house. The property taxes for the 70 acres were about $1500 per half yr and we’ve been paying that amount until April 2011 when the property taxes finally lowered to $400 per half. I see that two deductions finally kicked in: homestead deduction and mortgage deduction.
Can you help me understand the high tax we paid for 17 months?
ANSWER: My suggestion is speak with the county tax office is which you live, taxes are billed in year they are for , but most municipalities allow payment thru first of the year. As for yours, you should be responsible for taxes for Nov, December 2009 and from 01/01/2010 thrum today, for land and improvements, ie home. If you have been paying the taxes for the total acreage, you have been over paying and someone owes you some refund.. I would investigate more, you might even hire a good attorney to look into, and advise you. I might start with the county tax office and ask them see what they say 1st, then look elsewhere, see how much the other property owners have paid during the same time. If you got the whole bill what did they pay.. Let me know.
mb
---------- FOLLOW-UP ----------
QUESTION: Thank you. I did speak with the tax office, but all they seem to know is the amount owed (whatever the computer says). Still I will approach them again to better explain my dilemma. Also, do you think the title agency have any worthwhile input?
I would also ask the attorney who closed transaction.
Also explain your situation to a manager of the tax office, not a counter person, if you cant get to a manager, go to the county managers office,Speak with county manager, if not able to speak with county manager, get county managers email address, and copy email to all county commissioners, let them know they would not help you. You need to get to the bottom of this.Most email address are online, in the county you live. Let me know if this don't work.
mb
Related Articles
- Oklahoma Property Taxes - How to Figure Your Property Taxes, Where Do Your Property Taxes Go and Who Sets Market Values
- Deducting the Mortgage Interest on a Rental Property
- Understanding All the Costs of Home Ownership - Mortgages
- Itemizing Deductions Can Reduce Your Taxes – Itemizing vs. Standard Deduction
- Tax Sales - Buying Foreclosures
Answers by Expert:
- Dick Dennis
- Jessica Bryan
- liznarr
- Hans Weber, Licensed Broker Associate
- Sue Bernstein
- Karyn Foley
- Dottie Worthington
- Jim Root
- Russel Ray
- Connie Wildasinn-Broker,GRI,Realtor®
- Todd C. Menard
- Diann Tonnesen
- John Hendricks
- Jay Denit
- Matt Heisler
- Lisa Webber
- John
- Laurie Stephenson
- Marvin G. Bobbitt, III
- Nori J. Muster
- Sharon Huneycutt, Realtor, Associate Broker, GRI, e-PRO
- CJ Brasiel
- Jeff Kessler
- Kathryn Hisert
- Emily
- Ted Lewis
- Kerrin Kostelic, FL Broker Associate, GRI, AHWD
- Tim Norris
Marvin G. Bobbitt, III
Expertise
Can answer questions about Real Estate in North Carolina. Professional Real Estate Broker,REALTOR Residential Real Estate,Professional Advising,Commercial Real Estate, Estates, Issues regarding real estate and the County Tax system,Bank owned properties, REO/Foreclosures and Investment properties,New homes & re-sale home sales,Management of Investment properties,1031 tax deferred exchanges, Profit enhancement within investments,Investment property advisor,North Carolina agency and required forms and disclosure.
Experience
Have 20+ years Professional experience.Experianced in property estates and real estate transactions primarly in the Durham,RTP,North Carolina area.Residential Real Estate, Professional Advising,Commercial Real Estate, Estates, My experience covers a vast range of real estate services.Due to my personal training by Frank Ward for over 20+ years everyday.In residential,commercial,sales and leases, I have had the opportunity to work and learn with some of the best in the business. Estates have become a specialty to me, including the personal property side of things and how to handle things and what to do with what you got.Hire me and forget about it..
Organizations
Active Member of the Durham Association of REALTORS.
Past BOD for Durham Regional Association of REALTORS.
Active Member of North Carolina Association of REALTORS.
Active Member of the National Association of REALTORS.
Active Member of Triangle Multiple Listing Service.
Past member Durham Jaycees, Durham Sales and Marketing and Durham Rotary Club.
Publications
Durham Herald
Education/Credentials
Graduate; Durham Public Schools
Graduate; North Carolina Central University.
Appointed; Real Property sale Commissioner/ Durham County N.C Clerk Of Superior Court 2010, Honorable
Archie L.Smith, III, Durham County NC.
Completion of the following North Carolina Real Estate Courses.
North Carolina Real Estate School Fundamentals.
North Carolina Real Estate Broker Classes.
Completes Continuing Education classes annually as directed by the State of North Carolina Real Estate Commission.
Completion of the following North Carolina Appraisal Courses.
R-1 Real Estate Appraisal.
R-2 Valuation & Principles & Procedures.
R-3 Applied Residential Property Valuation.
G-1 Income Property Appraisal & Valuation.
Completion of Notary Public Classes for the State Of North Carolina.
Active Notary Public for Durham City/County, North Carolina. Active until; 06/16/2015
Awards and Honors
20+ YEARS EVERYDAY PERSONAL TRAINING BY;FRANK WARD.
Appointed; Real Property sale Commissioner/ Durham County N.C Clerk Of Superior Court 2010, Honorable
Archie L.Smith, III, Durham County NC.
Past/Present Clients
Given upon request
©2012 About.com, a part of The New York Times Company. All rights reserved.