Between gasoline, packing materials, moving assistance, and insurance, the summertime moving costs can really add up. All of this might get you thinking, “Are any of my summer-time moving expenses tax deductible?”
Now that winter is over, many of us are turning attention to clearing out the clutter. Spring cleaning is an annual ritual for us. The good news is that you can use spring cleaning as a time to help others, as well as to clean the clutter from your home.
Daylight savings time is almost here, which robs us of an hour as we spring forward this Sunday. That is, unless you live in one of the few areas where daylight savings time is not observed, such as most of Arizona, Hawaii, and most of the US territories. That gives us one less hour to file our taxes, so if you haven’t filed yet, time to get in gear and file your taxes.
The deadline to appeal property taxes is in September in many areas. With the decline in property values, it may be worth appealing your property tax value to make sure you are paying the correct property tax amount. You may be able to save money. Column Five’s, Josh Ritchie gives us details on how frequency of use of second properties may impact how you report property taxes.
With the last chance to appeal the assessed value of your home quickly approaching, we wanted to share our infographic that compares state-by-state property taxes, which is one of the largest home related expenses we pay and is hands down a significant revenue source for state and local governments.
Under 2008 legislation designed to stimulate the housing market, first-time homebuyers could claim a tax credit of up to $7,500, however beginning in 2010 taxpayers were required to pay the credit back. Find out more here.
Our property taxes for our town home are due by the end of December every year. We get a letter from our county and municipality during the summer to let us know what our tax obligation is. By having a portion of our mortgage payments allocated for the bill, we’re able to have it taken care of painlessly.