Welcome to tax saving Guide
Tax Free Savings Account Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
You may also listen to this article by using the following controls.
How to Reduce Property Taxes
from:One of the major costs of owning your home is paying property taxes. Property taxes differ by state and by county, but in some regions of the country, they are quite high. Property taxes are important because they help fund important community interests, like public schools and your local government. In addition, your property taxes may fund federal programs. However, this doesn’t mean you should pay more than have to. It’s important to take a look at the following ways to reduce property taxes.
Get a correct value on your home – Each year, the tax assessor will assess the value of your home. He’ll look at improvements you’ve made, as well as the value of other homes in your area. The value that the tax assessor places on an individual home is quite subjective, and each tax assessor employed by the city or county would likely come up with a different figure for your home. Since your property taxes are directly based on the tax assessor’s assessment of your home’s value, it’s important that you home is not over-valued. If you feel that the assessor has over-valued your property, you can contest the value and possibly get it lowered, which will reduce property taxes.
Check out available exemptions – You may qualify for tax exemptions that would reduce property taxes you’re paying. For example, most areas offer a “homestead exemption” which reduces the tax you pay on your primary residence. In most cases, all you have to do to qualify for a homestead exemption is to file a form with the city or county where you live. Having a homestead exemption filed on your primary residence will reduce property taxes because it lowers the percentage of your home’s value that is taxed.
Stay involved locally –As a citizen, you and other citizens control the property tax rate. By getting involved in your community, you’ll know when property tax rate hikes are being considered and you can voice your opinion as to whether or not these rate hikes are responsible. Often, homeowners don’t even know that a rate hike was being discussed until they get their property tax bill at the end of the year.
If you want to reduce property taxes, it’s important to stay informed and involved. While property taxes are an important part of funding your local community, they can also be a burden on your personal finances. It’s important to understand how your property taxes are calculated and what they’re funding so that you can both be a good citizen and keep your home ownership expenses manageable.
Tax Free Savings Account News
Canadians Encouraged to Consult Financial Advisors About the Tax Free ... - CNW Group
AGF Now Offering TFSA to Investors >> TORONTO, Dec. 1 /CNW/ - AGF Funds Inc. announced today that investors may now open a Tax Free Savings Account (TFSA) at AGF and begin contributing on January 2, 2009. AGF is encouraging Canadians to talk to their ...
Read more...Tax-Free Savings Account - Ottawa Business Journal
Opening a Tax-Free Savings Account (TFSA) can offer you and your family the opportunity to earn a significant amount of investment income tax-free. Though your contributions to this new type of tax-assisted savings account will not be tax-deductible ...
Read more...National Bank Financial Group to Offer an All New GIC Transferable to ... - Earthtimes
MONTREAL, QUEBEC -- 12/01/08 -- Effective immediately, National Bank Financial Group (TSX: NA) is offering an all-new non-redeemable Guaranteed Investment Certificate (GIC), at a rate of 4.10%, that will automatically be transferred to a Tax-Free ...
Read more...Ten ways to pay less tax - Manchester Evening News
AS the credit crunch continues to bite into our current and savings accounts, the last thing any of us wants to do is pay more tax than we should. On the average salary of £30,456, you pay around £4,884 in income tax and £2,750 in national ...
Read more...Saving Gateway to kick-start savings - This is Money
The long-awaited Saving Gateway will finally get off the ground in 2010, the Chancellor announced in the Pre-Budget Statement on Monday. The scheme, first proposed in April 2001, aims to kick-start the savings habit and encourage regular saving among ...
Read more...