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Seller FAQ |
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Property Taxes |
 Are property taxes deductible?
Are
taxes on second homes deductible?
How do
property taxes work?
How is a home's value
determined?
What is an
impound account?
Where can I learn
more about appealing my property taxes? |
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Question: Are property taxes deductible?
Answer: Property
taxes on all real estate, including those levied
by state and local governments and school districts,
are fully deductible against current income taxes. |
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Question: Are taxes on second homes deductible?
Answer: Mortgage
interest and property taxes are deductible on
a second home if you itemize. Check with your
accountant or tax adviser for specifics. |
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Question: How do property taxes work?
Answer: Property taxes are what most homeowners in the United States pay for the privilege
of owning a piece of real estate, on average 1.5 percent of the property's current
market value. These annual local assessments by county or local authorities
help pay for public services and are calculated using a variety of formulas. |
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Question: How is a home's value determined?
Answer: You
have several ways to determine the value of
a home.
An appraisal is a professional estimate
of a property's market value, based on recent
sales of comparable properties, location, square
footage and construction quality. This service
varies in cost depending on the price of the
home. On average, an appraisal costs about
$300 for a $250,000 house.
A comparative market
analysis is an informal estimate of market
value performed by a real estate agent based
on similar sales and property attributes. Most
agents offer free analyses in the hopes of
winning your business.
You also
can get a comparable sales report for a fee
from private companies that specialize in real
estate data or find comparable sales information
available on various real estate Internet sites. |
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Question: What is an impound account?
Answer: An
impound account is a trust account established
by the lender to hold money to pay for real estate
taxes, and mortgage and homeowners insurance
premiums as they are received each month. |
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Question: Where can I learn more about appealing my property taxes?
Answer: Contact your local tax assessor's office to see what procedures to follow to
appeal your property tax assessment. You may be able to appeal your assessment
informally. Mostly likely, however, you will have to go through a formal tax-appeal
processes, which begin with an appeal filed with the appropriate assessment
appeals board. |
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HOME VALUATION |
| Monitor the value of your property, get an
idea of what your home is worth today. |
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Faye Today |
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LETTERS FROM CLIENTS |
| Nothing makes me more proud and satisfied
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FEATURED PROPERTIES |
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Foster City |
| Bed/Bath |
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3/2 |
| Sq ft |
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1,540 |
| Asking Price |
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$798,000 |
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| City |
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San Mateo |
| Bed/Bath |
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2/2 |
| Sq ft |
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N/A |
| Asking Price |
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$529,000 |
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| City |
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San Mateo |
| Bed/Bath |
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2/2 |
| Sq ft |
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1213 |
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$535,000 |
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| City |
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San Mateo |
| Bed/Bath |
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3/2.5 |
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1312 |
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$775,000 |
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| City |
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Redwood City |
| Bed/Bath |
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5/3 |
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N/A |
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$1,399,950 |
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| City |
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San Mateo |
| Bed/Bath |
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2/2.5 |
| Sq ft |
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1,254 |
| Asking Price |
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$750,000 |
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| City |
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San Mateo |
| Bed/Bath |
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2/1 |
| Sq ft |
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1,130 |
| Asking Price |
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$935,000 |
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| City |
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Redwood City |
| Bed/Bath |
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4/3.5 |
| Sq ft |
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2,951 |
| Asking Price |
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$1,626,000 |
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