First-time homebuyers need to consider property taxes, which vary by location and help fund services.

From Yahoo Finance: 2024-04-25 13:21:00

When buying a house, first-time home buyers often overlook property taxes. Property tax rates vary by locality. Real property tax is on real estate, personal property tax is on movable items. Property taxes fund services like schools and police. Taxes are based on assessed property value. Exemptions can reduce tax burden. Monthly mortgage payments often include property taxes.



Read more at Yahoo Finance: How to calculate and pay what you owe