Property taxes have been used for years to fund public resources and institutions such as schools, parks, fire and police departments and more to improve the community.
If you own a home, land, or business, you may be familiar with the forms needed to document your property tax information. However, knowing about exemptions and what exactly is being calculated can give you a better understanding of this tax information.
Local governments request tax forms containing information on the property you own, the land the property is on, equipments and information about any income being generated by the property if applicable and other movable structures under your name.
Depending on your state, individuals meeting certain requirements may receive a partial tax exemption.
This includes but isn’t limited to individuals with physical and mental disabilities. Individuals making under a certain amount of income yearly can also receive partial tax exemption from the state. The income amount is based off the previous year's tax information prior to turning in an application for exemption.
In addition to your home, the state also includes other items belonging to you under personal property. These items include:
Property taxes can be confusing and difficult, so if you need assistance filling out your property tax form, consider speaking with your local property tax office.
Kimberly Kelly decided to get her real estate license when she moved to South Orange with her family and fell in love with the classic, period homes of the area. Having worked in the city for many years for LexisNexis, Kim understands the appeal of an easy commute to NYC. That’s why she specializes in towns along the Mid-Town Direct train line, offering welcoming communities, good schools, and space to grow.
Very active in her children’s school PTA, Kim knows firsthand how important a school system is to parents looking to make the move to the ‘burbs. She volunteers with fairs, fundraising, and other activities that bolster support for education. Kim also believes involvement in the greater community enriches us all and has sat on various boards & associations throughout the years.
Kim Kelly has lived many places throughout her life, from Pennsylvania to Oregon, but has found New Jersey to be the ideal place to raise her family and put down roots. She loves nothing more than helping others discover their special place as well. Kim’s extensive knowledge of the area, combined with her sense of community, offers clients a personalized guide to finding the right house - and town - to call home.
