Mary-Lou McDonough, Barrett Sotheby's International RealtyPhone: (617) 947-9279
Email: [email protected]
Email: [email protected]
Like most recurring expenses, property taxes have late fees if not paid on time. While the amount and specific consequences vary from one municipality to the next, property tax late fees are something homeowners will want to avoid. Here are some basic facts about paying your property taxes on-time and in the correct amount:
Property taxes are calculated based on many factors. However, you can estimate them for yourself by multiplying the assessed value of the home by the local tax rate. The number you come up with is likely not the exact amount you'll see on your bill, but it's a great way to familiarize yourself with the general amount.
Luckily, most property tax payments get wrapped into your monthly mortgage payments. Otherwise, you have the choice of paying the taxes directly on an annual or semi-annual basis. Depending on your tax authority, this may mean writing and mailing a check or paying through an online portal.
There are some exemptions for property taxes. Some of the most common exemption types are available to seniors, people with disabilities, veterans and homesteaders. These exemptions usually don't eliminate taxes completely, but can significantly reduce the cost.
If you fail to pay your taxes, you'll get a tax lien placed on your home. Liens can adversely affect your credit score, and if taxes are left unpaid for too long, they can become levies allowing the government to seize your property. It's important to stay up to date on your property taxes and reach out to a professional if you expect any issues paying on time.
With strong connections to her community, Mary-Lou has held fund-raising events for The National Multiple Sclerosis Society, The Kids in Need Foundation and Dress for Success. This sense of personal responsibility extends to her professional life, and she continuously strives to exceed her clients’ expectations, empowering them throughout selling or buying process. "Only a well-informed client is prepared to make the best decisions on their own behalf, so the role of Market Expert is one I take very seriously.” It is this sense of personal accountability that drives Mary-Lou; keeping her focused on her clients and providing them with highest level of professionalism, solution-focused service, and sound guidance from start to SOLD!
Mary-Lou McDonough is Professionally Affiliated with The MASSACHUSETTS ASSOCIATION OF REALTORS® The GREATER BOSTON REAL ESTATE BOARD, THE NATIONAL ASSOCIATION OF REALTORS®, The Women’s Council of REALTORS®, The State and National Association of Certified Residential Specialists and The REALTORS® Political Action Committee
Whether you're in the research phase at the beginning of your real estate search or you know exactly what you're looking for, you'll benefit from having a real estate professional by your side. I'd be honored to put my real estate experience to work for you.
