What is the property tax in the United States?

Friends who want to buy a house in the United States must also want to know about the American property tax. Property tax is a traditional tax in the United States and is paid every year. I sorted out some information and answered the question of how much is the property tax in the United States.

Real estate tax is a traditional tax of American local governments. The local government determines the tax rate according to its own actual situation and collects it according to law. The tax revenue is mainly used for education and public service expenditure in people's living areas.

Property tax is a property tax, which is paid every year. The quantity is the property valuation multiplied by a tax rate, which is about 0.8%-3%. Relevant departments of the state government regularly evaluate the value of real estate every year as the basis for collecting real estate tax.

In view of the difference between buying and selling houses, some state governments also levy real estate value-added tax, which stipulates that houses sold after living for more than two years can enjoy a large amount of value-added tax concessions, while investment houses cannot enjoy corresponding concessions, so it can effectively curb real estate speculation.

Paying property tax in America is very simple. Usually, the local government will mail a tax notice to every homeowner. The owner needs to send the property tax back to the address designated by the local government by cheque and tax receipt within the prescribed time limit. Some places can also pay online.

Transaction tax:

It is paid at the time of one-time transfer, which is about 2%-4% of the house price. Generally, it is divided equally between the buyer and the seller.

Property fee:

The property fee of American apartment is the fee for the owner to enjoy the apartment community. In the collection of property fees, developers, property management companies and owners' committees check and balance each other.

Developers should attach a product description of the apartment approved by the government when consumers buy a house, including location, structure, materials, floor plan, warranty period, buying and selling procedures, local tax relief scheme, price, property fee and election law of owners' committee, etc. Once approved by the government, developers can't change any regulations. The price of buying a house is one-off, but the property fee is permanent. Therefore, in order to attract people to buy a house, developers usually try their best to set the property fee within a reasonable range.

Since the developer sold the first unit, every unit in the whole apartment has to pay the property fee, and the property fee for the unsold unit has to be paid by the developer, and every penny can't be less. Property fees are generally charged on a monthly basis. The property management company will send the management fee bill to the owner at the end of each month.

In the United States, the property fees set by developers are not fixed. Some adjustments were made by the owners' committee. The important task of the owners' committee is to supervise and manage the company and help the owners save money and manage their finances.