Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #1  
Old 01.03.2012, 14:11
Newbie
 
Join Date: Mar 2012
Location: USA
Posts: 2
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
steve2015 has no particular reputation at present
How to Save My Property Tax In US?

Hi, I have recently Buyed a new Home and Tax of that home is too high in prospective to the cost of the home.
Please can anyone help that how can i reduce my property tax?
Reply With Quote
  #2  
Old 01.03.2012, 14:25
anowheels's Avatar
Forum Veteran
 
Join Date: Mar 2011
Location: Not Zurich
Posts: 988
Groaned at 0 Times in 0 Posts
Thanked 668 Times in 401 Posts
anowheels has an excellent reputationanowheels has an excellent reputationanowheels has an excellent reputationanowheels has an excellent reputation
Re: How to Save My Property Tax In US?

Get the home re-assessed.

How is this related to Switzerland?
Reply With Quote
This user would like to thank anowheels for this useful post:
  #3  
Old 01.03.2012, 14:33
FriendlyKiwi's Avatar
Forum Veteran
 
Join Date: Jan 2008
Location: Shoppinzentrum
Posts: 1,782
Groaned at 19 Times in 15 Posts
Thanked 914 Times in 551 Posts
FriendlyKiwi has a reputation beyond reputeFriendlyKiwi has a reputation beyond reputeFriendlyKiwi has a reputation beyond reputeFriendlyKiwi has a reputation beyond repute
Re: How to Save My Property Tax In US?

Quote:
View Post
Hi, I have recently Buyed a new Home and Tax of that home is too high in prospective to the cost of the home.
Please can anyone help that how can i reduce my property tax?
Given that you are in the USA, you might get better results asking in a USA forum.

(Just in case you hadn't noticed, you asked this question in a Swiss forum.)
Reply With Quote
  #4  
Old 01.03.2012, 14:45
JBZ86's Avatar
Forum Legend
 
Join Date: Oct 2010
Location: Zurich and various mountains
Posts: 3,709
Groaned at 520 Times in 337 Posts
Thanked 4,258 Times in 1,944 Posts
JBZ86 has a reputation beyond reputeJBZ86 has a reputation beyond reputeJBZ86 has a reputation beyond reputeJBZ86 has a reputation beyond reputeJBZ86 has a reputation beyond repute
Re: How to Save My Property Tax In US?

Given this is an English forum, I assume for English speakers, and though in Switzerland, covers many topics and discussions, of which US taxation is discussed regularly, I won't be a little bitch and patronize your post.

That said, I am unsure you can reduce your property taxes I.e. Personal property or real estate.

If you are a US citizen filing annual 1040's remember these taxes are allowed as itemized deductions on Sch A.
Reply With Quote
  #5  
Old 01.03.2012, 14:56
phdoofus's Avatar
Forum Veteran
 
Join Date: May 2009
Location: City by the Bay
Posts: 2,357
Groaned at 96 Times in 56 Posts
Thanked 3,205 Times in 1,227 Posts
phdoofus has a reputation beyond reputephdoofus has a reputation beyond reputephdoofus has a reputation beyond reputephdoofus has a reputation beyond reputephdoofus has a reputation beyond repute
Re: How to Save My Property Tax In US?

Quote:
View Post
Get the home re-assessed.
This. Submit an appeal to the county assessor where the home is located. Of course, the property taxes would have been known to you at before/during/after/the time of sale and would have been pointed out to you by your real estate agent and your mortgage broker so presumably you were ok with them then.
Reply With Quote
  #6  
Old 01.03.2012, 14:57
poptart's Avatar
Forum Veteran
 
Join Date: May 2011
Location: Boston
Posts: 1,785
Groaned at 33 Times in 28 Posts
Thanked 3,013 Times in 1,242 Posts
poptart has a reputation beyond reputepoptart has a reputation beyond reputepoptart has a reputation beyond reputepoptart has a reputation beyond reputepoptart has a reputation beyond reputepoptart has a reputation beyond repute
Re: How to Save My Property Tax In US?

Quote:
View Post
Hi, I have recently Buyed a new Home and Tax of that home is too high in prospective to the cost of the home.
Please can anyone help that how can i reduce my property tax?
You should have been aware of the annual property tax prior to the sale as well as at the closing when all the costs are itemized which your legal counsel walks you through. Thinking it's too high after the sale is a bit late. As someone suggested, you could request a reassessment from the town/city but, chances are, you're stuck as property taxes almost never go down...only up.

My suggestion would be to make more money or sell the house and move to a town with a lower tax. Good luck.
Reply With Quote
This user would like to thank poptart for this useful post:
  #7  
Old 01.03.2012, 15:12
FriendlyKiwi's Avatar
Forum Veteran
 
Join Date: Jan 2008
Location: Shoppinzentrum
Posts: 1,782
Groaned at 19 Times in 15 Posts
Thanked 914 Times in 551 Posts
FriendlyKiwi has a reputation beyond reputeFriendlyKiwi has a reputation beyond reputeFriendlyKiwi has a reputation beyond reputeFriendlyKiwi has a reputation beyond repute
Re: How to Save My Property Tax In US?

The OP is located in the USA (according to his profile)
Reply With Quote
  #8  
Old 01.03.2012, 15:31
JBZ86's Avatar
Forum Legend
 
Join Date: Oct 2010
Location: Zurich and various mountains
Posts: 3,709
Groaned at 520 Times in 337 Posts
Thanked 4,258 Times in 1,944 Posts
JBZ86 has a reputation beyond reputeJBZ86 has a reputation beyond reputeJBZ86 has a reputation beyond reputeJBZ86 has a reputation beyond reputeJBZ86 has a reputation beyond repute
Re: How to Save My Property Tax In US?

Quote:
View Post
The OP is located in the USA (according to his profile)
yep.....................?
Reply With Quote
  #9  
Old 09.03.2012, 11:34
Newbie
 
Join Date: Mar 2012
Location: USA
Posts: 2
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
steve2015 has no particular reputation at present
Re: How to Save My Property Tax In US?

Thanks for your great suggestions, finally I found an expert property tax lawyer for appealing property tax from 1800 law firm and fill a simple form at mitaxappeal.com for appealing property tax assessment.
Reply With Quote
  #10  
Old 09.03.2012, 19:02
Senior Member
 
Join Date: May 2007
Location: Geneva
Posts: 441
Groaned at 62 Times in 38 Posts
Thanked 1,174 Times in 666 Posts
Reb77Br has a reputation beyond reputeReb77Br has a reputation beyond reputeReb77Br has a reputation beyond reputeReb77Br has a reputation beyond reputeReb77Br has a reputation beyond repute
Re: How to Save My Property Tax In US?

A lot of newbies round here asking random questions about tax or gold.
Reply With Quote
This user would like to thank Reb77Br for this useful post:
  #11  
Old 09.03.2012, 20:52
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Basel
Posts: 14,749
Groaned at 284 Times in 189 Posts
Thanked 18,639 Times in 7,827 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: How to Save My Property Tax In US?

Quote:
View Post
A lot of newbies round here asking random questions about tax or gold.
maybe the local should re-brand EF as the tax and gold forum...
Reply With Quote
This user would like to thank Phil_MCR for this useful post:
  #12  
Old 09.03.2012, 20:58
KeinFranzösisch's Avatar
Forum Veteran
 
Join Date: Dec 2010
Location: Washington, DC
Posts: 2,198
Groaned at 63 Times in 38 Posts
Thanked 2,549 Times in 1,115 Posts
KeinFranzösisch has a reputation beyond reputeKeinFranzösisch has a reputation beyond reputeKeinFranzösisch has a reputation beyond reputeKeinFranzösisch has a reputation beyond reputeKeinFranzösisch has a reputation beyond reputeKeinFranzösisch has a reputation beyond repute
Re: How to Save My Property Tax In US?

Quote:
View Post
Given this is an English forum, I assume for English speakers, and though in Switzerland, covers many topics and discussions, of which US taxation is discussed regularly, I won't be a little bitch and patronize your post.

That said, I am unsure you can reduce your property taxes I.e. Personal property or real estate.

If you are a US citizen filing annual 1040's remember these taxes are allowed as itemized deductions on Sch A.
Mortgage interest is deductable. But I don't believe Property Taxes are. If they are, then I'm doing it wrong and missing out.

Nevertheless, buyer should be made aware of what property tax rates are and how they will affect the monthly mortgage payment (escrow) before buying, by the realtor when drawing up the offer, by the lender when applying for the mortgage, and by the lawyer at closing when all of the documents are signed. It's a normal part of the process, and it's highly doubtful that it's really a surprise to the OP.

As already mentioned, to try and reduce your property taxes, ask the county to reassess your home and pray it comes in lower. Odds are it won't.
__________________
I would sooner have you hate me for telling you the truth than adore me for telling you lies. - Pietro Aretino
Reply With Quote
  #13  
Old 09.03.2012, 21:09
Guest
 
Posts: n/a
Property taxes are deductible in the US.
Reply With Quote
  #14  
Old 09.03.2012, 21:11
JBZ86's Avatar
Forum Legend
 
Join Date: Oct 2010
Location: Zurich and various mountains
Posts: 3,709
Groaned at 520 Times in 337 Posts
Thanked 4,258 Times in 1,944 Posts
JBZ86 has a reputation beyond reputeJBZ86 has a reputation beyond reputeJBZ86 has a reputation beyond reputeJBZ86 has a reputation beyond reputeJBZ86 has a reputation beyond repute
Re: How to Save My Property Tax In US?

Quote:
View Post
Mortgage interest is deductable. But I don't believe Property Taxes are. If they are, then I'm doing it wrong and missing out.

Nevertheless, buyer should be made aware of what property tax rates are and how they will affect the monthly mortgage payment (escrow) before buying, by the realtor when drawing up the offer, by the lender when applying for the mortgage, and by the lawyer at closing when all of the documents are signed. It's a normal part of the process, and it's highly doubtful that it's really a surprise to the OP.

As already mentioned, to try and reduce your property taxes, ask the county to reassess your home and pray it comes in lower. Odds are it won't.
Line 7 schedule A my friend! You been missing out
Reply With Quote
  #15  
Old 09.03.2012, 21:19
KeinFranzösisch's Avatar
Forum Veteran
 
Join Date: Dec 2010
Location: Washington, DC
Posts: 2,198
Groaned at 63 Times in 38 Posts
Thanked 2,549 Times in 1,115 Posts
KeinFranzösisch has a reputation beyond reputeKeinFranzösisch has a reputation beyond reputeKeinFranzösisch has a reputation beyond reputeKeinFranzösisch has a reputation beyond reputeKeinFranzösisch has a reputation beyond reputeKeinFranzösisch has a reputation beyond repute
Re: How to Save My Property Tax In US?

Quote:
View Post
Line 7 schedule A my friend! You been missing out
Hello, Amended tax return.
Reply With Quote
  #16  
Old 10.03.2012, 17:37
Senior Member
 
Join Date: May 2007
Location: Geneva
Posts: 441
Groaned at 62 Times in 38 Posts
Thanked 1,174 Times in 666 Posts
Reb77Br has a reputation beyond reputeReb77Br has a reputation beyond reputeReb77Br has a reputation beyond reputeReb77Br has a reputation beyond reputeReb77Br has a reputation beyond repute
Re: How to Save My Property Tax In US?

Quote:
View Post
maybe the local should re-brand EF as the tax and gold forum...
Wonder if any of the newbies are Mr Moran. Or maybe that's the next topic.

Last edited by Reb77Br; 10.03.2012 at 18:08.
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
How to unlock my US (AT&T) iPhone 3G?? DennisTheDane TV/internet/telephone 7 05.04.2013 08:59
How do I find out if my car is eligible for export to US? Sassy Transportation/driving 1 25.02.2011 16:49
How to: Save money in Switzerland NoToM Other/general 110 02.09.2009 17:35
How do I get my US phone to work JG2008 TV/internet/telephone 10 19.10.2008 19:11


All times are GMT +2. The time now is 11:52.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0