How to collect the US property tax?

All 50 states in the United States levy property tax, which is the main source of income for local governments. According to the statistics of Stars and Stripes real estate, the current tax rate is roughly between 1%-3%, and the property tax is the most basic guarantee for the permanent holding of real estate. The purpose of levying property tax is to maintain the expenditure of local governments and improve public facilities and welfare. Therefore, the main tax collectors in the United States are county governments, municipal governments and school districts, and neither the federal government nor the state governments levy property taxes. The property tax in the United States is a tax on houses, based on the valuation of houses. So how is the property tax levied in the United States?

How to collect the US property tax?

Expropriation subjects: county government, municipal government and school district.

1 How to collect the US property tax? American local government. Local governments determine tax rates and taxes according to actual conditions, and taxes and fees are mainly used for personnel expenses in the fields of education and public utilities.

The federal and state governments do not levy property taxes. The purpose of levying property tax is to maintain the expenditure of local governments and improve public facilities and welfare. Therefore, the main body of property tax is the county government, the municipal government and the school district. Generally speaking, the ratio of county tax, city tax and school district tax is 1: 1: 5.

Determine tax rate

The tax rate of real estate tax is determined by local governments according to the annual demand of budgets at all levels. The total amount of real estate tax collected by the budget and the taxable value of houses change every year, and the tax rate of real estate tax also changes accordingly every year. If the annual expenditure of local government is $200 million and the total valuation of local real estate is $654.38+0 billion, then the real estate tax rate of that year is 2%. If the local economy develops for one year, house prices rise, and the total value of real estate rises to 20 billion dollars, while the local government expenditure remains unchanged at 200 million dollars, then the property tax rate is 1%. In other words, if the house price rises, the property tax may be reduced.

Property tax calculation. Local governments provide local unified property tax rates according to local financial needs. Dealing with property tax is the real estate tax rate and real estate tax price of products. Property tax is generally the parity of the real estate market, but some local governments allow some concessions and the government will provide a discount rate. In this case, the real estate tax price is the real estate market parity and product discount rate.

Real estate appraisal is generally proved by professional appraisers to give the market a fair price. So how is the property tax levied in the United States? Like most single families in the United States, there are great differences between rooms, including block area, usable area and house style. Appraisers generally use the sales comparison method, that is, according to the housing area, housing area, housing type, housing age, housing facilities, etc., the prices of three or four houses sold in the past six months. Another method is the replacement cost method, but this method is generally aimed at new houses, mainly considering the cost of housing reconstruction, and then adjusting according to land price and depreciation.

The specific procedure for determining the tax rate is: the municipal and town committees pass the budget, and governments at all levels determine the amount of property tax according to the total budget revenue and expenditure, and then evaluate the value tax of real estate to determine the property tax rate.

The tax rate is calculated as follows: real estate tax budget ÷ total real estate tax = real estate tax rate.

How to collect the property tax in the United States is actually limited by the tax rate, because the federal law stipulates the largest property tax (mainly real estate). The real estate appraisal officially approved by the local legislature provides services for the local statutory tax base. Thus forming two forms of tax rate. First, the nominal tax rate applies to valuation; 1. The actual tax rate applies to the market price. The tax rates vary greatly from place to place with different valuation ratios.

Tax collection procedure

How to collect the property tax in the United States is very simple. Usually, the local government will issue a tax notice to every homeowner. The property owner shall pay the tax by cheque within the specified time, and get the tax return from the local government, which can be sent to the designated address. Some places can also pay online. Local governments have regulations on the frequency of taxation. For example, Philadelphia can only issue a real estate tax form once a year, and the real estate appraisal bureau issues it to the owners in June 65438+February every year, and the owners must pay it on March 3 1 of the following year. California property tax is paid twice, the first time is 165438+ 10/month; The second is February of the following year 1. Four times a year in New Jersey.

American real estate taxpayers are natural persons and legal persons who own real estate. Including residential owners and tenants, but excluding households.

The above is how to collect the property tax in the United States. I hope reading this article will help you. It is necessary for you to know whether you are an immigrant or buying a real estate. If you don't understand after reading the above article, you can consult us or continue to pay attention to us. We will provide you with more effective information to help you answer your questions!