Miami Tax Advisor
Handling Property Taxes
Do you ever wonder who pays for the pavement to be fixed? You probably know that it’s you pay since you’re a taxpayer but which of the taxes you’re paying for is going towards innovating the city, building new schools, transportation, etc? A property tax is a annual tax paid by a land-owner to the government based on a tax rate. Now that you know what they are, it is important to know how the work and if you’re being charged for the correct amount of property tax. Even if you are done paying for your mortgage, you are still required to pay for property taxes. The way a property tax is calculated is by the mill levy times the assessed value of your property. The mill levy is one-thousandth of a dollar for each dollar of the property is worth. Depending on what you are using the property for, you will be taxed differently. If the property is used for religious purposes then the property will be exempt from property taxes.
Step by Step on How to Calculate Property Taxes:
Find out how much your land is worth
Add the value of the land plus the property
Find the tax rate of your government, and other organizations
Add your tax rates to get the total property tax rate.
Multiply the property tax rate percentage times the value of your property
It is recommended to seek a Miami Tax advisor to view more ways on how to find out ways you could handle your property taxes better. Make sure you are paying the right amount of taxes by carefully following the steps. There might be a slight chance you might be paying more than you should which is why you shouldn’t ignore the chance of consulting a Miami Tax advisor. If you think you’re eligible for a tax relief due to the fact that you’re an elderly, a veteran, or your home is destroyed then contact a Miami Tax Advisor right away!
At Kerr Koncepts Inc. we offer a variety of accounting and tax needs while offering our customers a strategic approach to achieving their business objectives. For further information about our services Call today at (305) 387 – 5880 or click here to make an appointment.