What is the point of having house and property taxes?
Im a new home owner and just found out that I owe even more money towards bills!
Dont understand why i have to pay out taxes for a house and yard that is all paid off.
already have taxes taken out of my pay check.
- ?Lv 78 years agoFavorite Answer
And that is the way that your local government is able to collect and have the needed necessary income to provide all of the things that we all use every day in our lives around us and we just take them all for granted BUT that is where some of the funds do come from to help for them during your life time for this purpose.
Hope that you find the above enclosed information useful. 10/29/2012
- Fred SLv 78 years ago
You bought a house without knowing all the expenses involved? Surely you jest. But if you did, it's your own fault.
Property taxes are assessed against every piece of property.
What comes off your paycheck are income taxes.
You also pay sales tax when you buy things. Did you not know that either?
- RinkydinkLv 78 years ago
Taxes from your pay are for federal and state income taxes. Taxes for property comes from your town for schools, roads etc. Property taxes are based on your property value and usually changes yearly based on assessment. Often when you pay your mortgage your property taxes are included. You should have had all explained when you closed on the property.
- Silly GooseLv 78 years ago
Frustration - clear in your question.
The city or county charge yearly for taxes for schools, roads, police, etc.