|Taxes | Insurance|
A tax assessor's determination of the value of a home in order to calculate a tax base.capital gains tax
A tax placed on profits from the sale of real estate or investments.
A tax imposed on the transfer of real property.
A policy that provides coverage against damage to a home from an earthquake.
Hazard coverage that is required in designated flood areas.
This insurance includes hazard coverage for any damages that may affect the value of a house, in addition to personal liability and theft coverage.
A type of insurance that covers repairs to certain parts of a house and some fixtures.
Owners and buyers can purchase various types of insurance including hazard, private mortgage, and earthquake. The policies guarantee compensation for specific losses.
The tax write-off that the Internal Revenue Service allows most owners to claim for annual interest payments made on real estate loans.
A tax term that refers to any loss from a passive activity, such as the ownership but not the operation of a piece of rental real estate.
Tax paid on privately owned property. Property taxes are usually paid semiannually, or monthly if the lender requires. The amount is based on local tax rates and assessed property value.
property tax deduction
The U.S. tax code allows homeowners to deduct the amount they have paid in property taxes.
A tax break given by the government. Mortgage interest, loan points, and property taxes can be deducted.
A lien placed against a property for nonpayment of taxes.
A term often applied to real estate investment, referring to various tax advantages.
A policy issued to lenders and buyers to protect against loss due to disputed property ownership.
An assessment by state or local authorities at the time a piece of property changes hands.