Remove Finance Remove Market Value Remove Property Taxes
article thumbnail

Property taxes have been rising. Here’s what it means for housing

Housing Wire

In many communities, homeowners and homebuyers have been hit with eye-popping property tax increases. And homes in many communities have shot up in value in recent years, leading to tax increases through reassessments. But opinions differ on how much impact higher taxes are having on local housing and mortgage markets. “I

article thumbnail

Real estate on the ballot: Here’s what passed at the state level

Housing Wire

The passing of Proposition 19 in California overhauls Proposition 13, which slashed property taxes by almost 60% in 1978. Now, eligible homeowners may transfer their tax assessments anywhere within the state – including the ability to transfer tax assessments to a more expensive home with an upward adjustment.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How the title industry is addressing the negative effects of heirs’ property

Housing Wire

If a person passes away without an end-of-life document, a property often becomes heirs’ property, meaning that it is passed informally to the next generation without a proper title documenting ownership. Besides not having the ability to monetize the property, heirs’ property holders can also lose economic value in other ways.

Legal 427
article thumbnail

Navigating Your Property Tax Bill

Eppraisal

Property ownership comes with various responsibilities, and one recurring financial aspect is the property tax bill. Understanding this bill is crucial for homeowners, as it directly influences both personal finances and community services. Local assessors evaluate properties periodically to determine their market value.

article thumbnail

Reasons To Get An Appraisal

Padove Appraisal Service

There are several reasons why someone may want to get a real estate appraisal: Buying or selling a property: If you are buying or selling a property, an appraisal can help determine its fair market value, which can be useful in negotiations and setting a listing price.

Appraisal 148
article thumbnail

Closing on a House: Settlement Tips for Home Sellers

Realtor

What contingencies impact sellers before closing on a house While the burden is on the buyer to finalize financing for the home purchase and to obtain homeowners insurance , some contract contingencies will impact you, too, especially if you’re living in the home.

Sellers 142
article thumbnail

26 Reasons to Get an Appraisal

Realvals

By providing an unbiased estimate of a property’s value, an appraisal ensures that you know the real value of your property. Estate planning, property tax appeals, divorces, and gifting, are some of the many others. Estate Taxes In some cases, local laws may require appraisals for estate tax purposes.

Appraisal 145