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Category Archives: property tax
Your Guide To Tax Proration: How Does It Work And Why Does It Matter?
Property taxes proration during Illinois transactions can be confusing. Meeting at the closing table to ensure fair payment by tax proration can have you asking why tax proration exists in the first place. In 1930, during the Great Depression, many … Continue reading
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How Much Will I Save in Income Taxes by Owning Property?
Investing in the purchase of a home could potentially increase a homeowners’ tax refund. However, it is important to understand how to receive these tax benefits if you want to start saving on your income taxes. Tip #1: You Must … Continue reading
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Tips and Tricks for Saving on Property Taxes
If you’re ready to apply for a home loan, it’s essential to make sure your payments will still be affordable with property taxes included in the mix. These payments can be extremely burdensome, especially if you have an FHA mortgage and pay … Continue reading
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Simple Tips for Saving on Property Taxes
Property taxes are an unavoidable part of home ownership. Although you can’t choose to not pay them, there are some ways you can reduce the amount of property tax you pay. Take a look at a few simple options to … Continue reading
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5 Tax Write-Offs Every Homeowner Should Know About
Every year, tax time brings untold headaches to homeowners around the country, but did you know there’s a silver lining to owning your own home? The truth is that Americans can receive a number of important deductions on their Individual … Continue reading
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TaxSmart Mortgage Credit Certificate Program
TaxSmart is a Mortgage Credit Certificate (MCC) program that provides a federal income tax credit to qualified homebuyers. A tax credit is a direct reduction of taxes due. Under the program, a homebuyer would receive a MCC to reduce income … Continue reading
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Cook County Tax Bill Update
Cook County Tax Bill Update Cook County property tax bills coming in July For the first time in decades the second installment of Cook County property taxes are to hit homeowner’s mailboxes in July. Meaning, payment will be due August … Continue reading
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Tax Bill Time
Cook County has recently released the tax bills. CHECK THIS BILL TO MAKE CERTAIN THAT YOU ARE RECEIVING YOUR HOMEOWNER EXEMPTION. This simple step can save you anywhere from $500 to $1,000 a year. Who pays this? The tax bill … Continue reading
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