0
Apparently, 421-a is a tax abatement programme in New York State that is available to developers who develop multi-family housing.
You can read more by reading the law, below.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What does real estate taxes mean?
The term "real estate taxes" means the taxes on the property that you own. Your real estate is the property itself. This tax is generally payed annually to your county.
Is real estate tax property tax?
Yes real estate taxes are also referred to as property taxes.
Is it required for seller to prorate real estate taxes?
Real estate tax laws in the United States vary state by state. However, I do not know of any state that requires the seller to prorate real estate taxes. Instead the proration of real estate taxes is local custom and generally written into an agreement to buy or sell real estate. Contractually, upon agreement of the parties involved, the real estate taxes are generally prorated so that whoever owned the real estate during the calendar year pays for that same portion of the real estate taxes.
Property taxes?
Can I get help to pay my real estate taxes?
What county in kansas has the highest real estate taxes?
The county in Kansas that has the highest real estate taxes is Johnson County. The mean property taxes for this county are $2,664.
What is the real estate sales tax in Stevens county WA?
Real estate taxes and sales taxes are two different forms of taxation.
Does Croatia have taxes?
Yes, of course. But there are no taxes on inheritance and real-estate.
Does California have a Homestead exemption on real estate taxes?
You can get the information about California have a Homestead exemption on real estate taxes from www.californiachronicle.com/articles/66770 website
Does Texas have low real estate taxes?
Texas does not have low real estate taxes. They do not have an income tax though, which makes it cheaper in some respects.
Why do some people say that real estate taxes are taxes on middle-class people?
Only middle-class people pay a real estate tax.B.Real estate taxes make up a large part of the expenses of most middle-class people. Middle-class people benefit the most from real estate taxes. There is no good reason -- it is a myth.
Who pays property taxes when buying a home?
Typically the seller will, however in real estate anything is negotiable. The real estate broker or other person responsible for the closing estimates the annual real estate taxes for the subject property being sold. The seller is responsible for the real estate taxes from January 1 through the day before closing. The buyer is responsible for real estate taxes as of the day of closing through the end of the year. Real estate taxes are generally estimated and prorated on a calendar year basis. At closing both the buyer and the seller receive a copy of the settlement sheet that, among other things, shows debts and credits for real estate taxes. If, at the end of the tax year, the estimated taxes were substantially inaccurate, the party that underpaid for their portion of the prorated year can be asked to contribute to the party that overpaid.
What does a New Jersey community have?
High real estate taxes!
