Expert Advice tagged as 'tax-questions'

  • I Keep Hearing that I'll Pay Less Taxes if I Own Vs. Rent. Is this Real? How does it Work?

    This is an important FAQ! Most first-time home buyers don't understand how powerful the tax deductions can be from owning vs. renting. We'll try to clarify that here. The very first thing you should do is read this article that explains the di [...]

  • The Changing Face of Transfer & Grantor's Taxes and What They Mean to You

    First, let's define transfer and grantor's taxes, why they exist, and the current trends in MD, DC and VA. Transfer Taxes are defined as: A transfer tax is a tax on the passing of title to property from one person (or entity) to another. In a [...]

  • All About Property Tax Assessments

    Are you confused by your tax assessment? How it's calculated? What it means? How you can lower it? If so, read on! If you are one of the many people who have looked over your tax bill and been thoroughly confused, then be assured, you are not [...]

  • Alexandria City Zoning Map

    Here is a zoning map of Alexandria city we recently came across: DROdio - Alexandria City Zoning Map And also a picture here:

  • All About Property Taxes (and How to Contest Your Assessment)

    Property taxes are one of the many hidden costs of owning a home. They’re not (directly) factored into the purchase price of a house or condo, and they’re not as obvious as the power or water bills. Yet they are a substantial annual cost, and h [...]

  • First Time Home Buyer Tax Credit Extended

    Download this PDF from the Virginia Association of Realtors that explains the now-extended first time home buyer tax credit (which existing homeowners are now partially eligible for as well). This document is authored by VAR, but applies to bu [...]

  • Do I Have to Escrow Property Taxes with My Lender?

    A client of ours writes: In your experience regarding mortgages, is it common for a lender (mine is Homecomings Financial/GMAC) to require you to maintain an escrow balance? Just curious, as I'd rather hang on to my money in a short-term CD or [...]

  • Transfer Tax Rates/Recordation Taxes for DC, VA and MD

    The information below is courtesy of Federal Title. You can find the complete page here. DC Purchase Transactions DC Recordation is calculated using the purchase price.Transactions $399,999 and under are taxed at the rate of 1.1% of t [...]

  • Comparing Tax Rates Across Counties - Maryland, Virginia, and Washington DC

    An introduction to our Tax Assessment Series TAXES: the word alone makes us shiver, and somehow manages to confuse us entirely. And so the inspiration for this series of articles was born. But since we are a Real Estate company, we'r [...]



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