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Buying & Selling Real Estate

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5
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1
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Zafer Avsar
1
Votes |
5
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Property tax calculation

Zafer Avsar
Posted Jun 23 2024, 07:05

Hi, I have some questions about how to calculate property tax?

Let's say, a vacant land from wayne country MI,  is 1200 Dollars. According to Zillow tax calculator: 19.32% f ( tax rate  1.61)

But in the description, it says one dollar! 

How can I calculate any tax amount correctly or next to correctly?  It should not be very simple?

 (assessed value of the house, or price listed on the ad) x the tax rate of that state! 

Another question: are vacant or improved lands subject to property taxes? If so, is the is the same rate with houses or buildings? 

User Stats

76
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38
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Lindsey Mannix
  • Real Estate Agent
  • Woodland Park, CO
38
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76
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Lindsey Mannix
  • Real Estate Agent
  • Woodland Park, CO
Replied Jun 25 2024, 14:06

Hi Zafer,

The best bet to know what the property tax is on vacant or improved land is to look at the local county's assessor's website. This maybe their site: https://pta.waynecounty.com/ and you just plug in the address to view what the current taxes are. In most areas of the country, both vacant and improved land will have some kind of property taxes (minus religious organizations and few other exceptions). I'd recommend calling the assessor for the county you're in if you're looking for a broad rate to calculate. Many counties have exemptions that can be filed so it will vary most likely on your situation (primary home v investment), senior, disabled, etc on what those exemptions may be.

~ Lindsey