Forum: Taxes
October 22, 2009
Certificate of Occupancy
We are about to buy a small one-family in CH that does not have the CoO on file (but listed as one-family on tax papers). Are we going to have to get the CoO? (we are planning extensive renovations - but no modifications to the floor-plans). In both "yes" and "no" scenarios - will our taxes increase vs the current year assessment?
if anyone can elaborate on this- we will greatly appreciate it! we never owned a home and have troubles understanding the property tax issues.
Thanks a lot!
October 2, 2009
Property Taxes and Co-ops
I am about to purchase a co-op and am really confused about how real estate property taxes will work. Are my property taxes 100% covered in the monthly maintenance? I also hear that the tax portion of the maintenance is then tax deductible. Finally, I hear that it is beneficial to close late in the year for tax purposes - why is this so?
Anyone can shed some light on these questions for me?