Property TAX

Use our tax calendar to make sure you do not miss those important deadlines.

Are you a buy to let investor or property dealer or developer?

Property tax is a bit of maze and we can advise you on issues such as…

• Tax reduction strategies for rental income
• What is a repair and tax deductible and what is capital and not
• When to use a Limited Company to save tax
• Trading income versus Capital Gain considerations and advice
• Capital Gains rollover and holdover considerations
• Stamp duty planning
• Tax efficient mortgage structures
• VAT considerations of property deals
• Making the most of the Principal Private Residence election
• Tax issues on the sale of part of your residence
• Second homes
• Inheritance Tax angles

What is Property Tax?

Property tax is a tax paid on property owned by an individual or other legal entity, such as a corporation or business. Most commonly, property tax is a real estate ad-valorem tax, which can be considered a regressive tax.

Who calculates Property Tax?

Property tax is calculated by a local government where the property is located and paid by the owner of the property. The tax is usually based on the value of the owned property, including land.

How does Property Tax work?

The amount owners owe in property tax is determined by multiplying the property tax rate by the current market value of the lands in question. Most taxing authorities will recalculate the tax rate annually.

Property Tax Vs Real Estate Tax

People often use the terms property tax and real estate tax interchangeably. For some parts that’s true: Real estate tax is a property tax. However, not all property taxes are real estate taxes.