This video goes over the ins and outs of property tax. The total amount of the previous year’s property taxes is usually included in the listing information. If it is not, ask the seller for a tax receipt or contact the local assessor’s office.

Tax rates can change from year to year so these figures may be approximate. Keep in mind that your mortgage interest and real estate taxes will be deductible.

A qualified real estate professional can give you more details on other tax benefits and liabilities.

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