Mortgage Calculator
Mortgage Payment Calculator: You can use this tool to calculate your monthly mortgage payments (Buying your home). You can calculate according to the percentage of interest, loan amount and number of months. The results will be shown in an amortization table with the possibility of observing the final amount that will be paid to the principal, interest and balance detailed by months.
Calculate the monthly percentage of your mortgage for free
Property Tax Services
Form used for reporting and paying Property tax to the IRS
| Forms Name | Caracteristics |
|---|---|
| Form 8288 | U.S. Withholding Tax Return for Dispositions by Foreign Persons of U.S. Real Property Interests |
| Form 8288-A | Statement of Withholding on Dispositions by Foreign Persons of U.S. Real Property Interests |
Filing you Property tax (Form 8288 and Form 8288-A)
Must be used by corporations, partnerships, estates, and trusts that must withhold tax on distributions and other transactions involving U.S. real property interests. You must include the U.S. TIN of both the transferor and transferee on the forms (Taxpayer Identification Numbers).
Tax on property sale:
Property taxes is the oldest major revenue source for state and local governments. Beginning of the twentieth century, property taxes represented more than eighty percent of state and local tax revenue. Share has diminished over time as states have introduced sales and income taxes. It’s remains an important mechanism for funding education and other local services. This policy brief discusses why property is taxed and how property taxes are calculated.
How Property Taxes Work?
Also historically, property taxes applied to two kinds of property: real property, which includes land and buildings, and personal property. The second includes moveable items such as cars, boats, and the value of stocks and bonds. Most states have moved away from taxing personal property and now impose taxes primarily on real property.
Claiming you Property Taxes on you Tax Return
Why make you Property Tax?
The property tax is rooted largely in the “benefits principle” of taxation. Under this view the property tax essentially functions as a user charge on local residents for the benefits. They receive from the local policies funded by property taxes. These policies benefit local residents directly in the form of better schools, fire protection and indirectly in the form of increased housing values.
Also helps differentiate between families of very different means by taxing families with large quantities of wealth more heavily than those without such reserves. But the impact that property taxes can have on low-income families, and particularly the elderly, makes clear that the linkage of the property tax to the ability to pay principle is far from perfect.
Fund are used for
Moreover, the stability and enforceability of the property tax make it among the best options available for providing local governments with a predictable revenue stream that can be used to fund indispensable services like schools, roads, and public safety.
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