Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 04-16-2007, 08:40 PM
Junior Member
 
Join Date: Mar 2007
Posts: 2
remodeled house. does the property tax change

Hello:
I recently remodeled my house. does the property tax change depending on what usage type I designate a particular room for, eg. for a new room that I added, does the tax go up if the usage is given as bedroom as against a study.

Thank you.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 04-18-2007, 02:17 AM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,417
Blog Entries: 3
I suspect that an appraisal from your Township would make a visit to your home and assess the remodeling done on your home. Your designation of a particular room may have an impact but generally speaking an adjustment upwards should be expected in your property tax assessment.

I am not 100% clear on whether the Usage designation has an impact, but I would call the township and ascertain how reassessments are made from remodeling a home and whether or not Usage designations have an impact. This is very important for you to find out as property taxes are paid every year and this could be potentially very costly to you.

Good Luck!

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.