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Property Tax Information

A property tax is a tax assessed on real estate, usually based on the value of the property you own and usually by your local or municipal government. Municipalities will normally use property taxes to pay for roads, schools, libraries, snow removal and other municipal services. Generally speaking, the amount of your property tax is determined by multiplying the property tax rate by the current market value of your property. Whether you qualify for any exemptions will also affect your property tax bill. Be sure to contact a tax professional for any questions regarding exemptions.

Source: Investopedia

By |Published On: April 25th, 2017|Categories: Mortgage 101|

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Guild Mortgage Co. is a nationally recognized retail mortgage lender with branches across 49 states and the District of Columbia. Since 1960, Guild has delivered the promise of home to neighborhoods nationwide through a team of local loan officers with expertise in Conventional and government loans, down payment assistance programs, home equity loans and many more products. Guild elevates the customer service experience with its mobile app, borrower portal, mortgage calculators and real-time loan updates. With a robust in-house loan servicing team, Guild helps borrowers explore and understand rates and payment options or access their home equity. To learn more, visit GuildMortgage.com.