By When you buy a house or apartment, you will face a lot of additional expenses, so the more information you have on these expenses, you can do a better planning of your purchase.
Visit muni of anchorage property taxes.
The expenses such as those that are generated by the acquisition of a mortgage loan, property taxes, formalities and fees of the notary, maintenance, moving, improvements and equipment that you will make to the property you are going to acquire.
Here we will talk specifically about the taxes are generated in the purchase and sale of real estate property for residential use as houses or apartments. Some levies will be paid at the time of purchase, others at the time of selling and others on a regular basis as long as you are the owner of the property.
It is important that you are aware of this for the reason that they are the values of consideration you must know in order to include them within your budget.
Property Acquisition Tax
It is generated at the time of acquiring a property and will be paid by the buyer. It will be the equivalent of 2% of the value at which the property is registered. The notary is in charge of withholding and knowing this tax and the payment you must make at the moment of signing the deed. For more information, contact the property tax consultants Dallasat cmi-tax.com.
Property Tax
This is another tax that must be paid by the owner of the property. The amount of this tax will be calculated on the basis of the cadastral value of the house or apartment.
Income Tax
It is due at the time of selling the house, and will be paid by the owner, as its name says, it is the tax that is generated on the utility that you have for the product of the purchase. For this tax, in the case of house, the ministry of finance grants facilities for its exemption.
It won’t be paid for the income derived from the alienation of the taxpayer’s house, provided the amount of counter benefit obtained does not exceed the limit set by the authorities. The exemption isn’t applicable in the case of second or subsequent disposal of housing made during the same calendar year. The public notary must consult with the tax authorities if the taxpayer has previously alienated a house during the calendar year in question and, if the exemption is appropriate, will give notice to the tax authorities.
