Ep51 The Three Guarantees in Life: Life, Death, and Taxes!

As the great inventor, Ben Franklin, neared the end of his life, he was quoted as saying “…but, in this world, nothing is certain except death and taxes.” Well, today, we talk about the more depressing of those two topics – of course, I’m talking about taxes. my name is Lou Lombardi... now here's the man known as the founding father of real estate ...Jason Wilcox TALKING POINTS (3-5): · Introduction · We need to define some basic terminology as it relates to taxes: o Milage rate § The rate at which property taxes are levied on the property o Mill § 1/1000 of a dollar o Assessed value § A property’s determined valuation to calculate the appropriate tax rates (essentially, it’s the $ amount used to calculate your taxes) o Market value § The amount for which something can be sold on a given market · Discuss the difference between market value and assessed value · Discuss the three different types of property taxes o County o Municipality/Borough o School · How do I calculate my property taxes? o Assessed value x millage rate · Calculate an example property tax situation · When/how do I pay my property taxes? o Borrowers o Cash buyers · GIVE WARNING TO ALL BUYERS CURRENTLY IN THE HOME BUYING MARKET! · Final thoughts LINKS: JASON: https://jasonwilcox.cbintouch.com/ https://www.zillow.com/profile/jasonwilcox1987/ https://www.youtube.com/channel/UCrRksfKiMNteHKYRYrinAug?view_as=subscriber https://www.facebook.com/jason.wilcox.186 https://twitter.com/jason_wilcox1 https://www.instagram.com/jason.wilcox1/ CONTACT INFORMATION: JASON: Cell Phone: 412-651-4638 Email: [email protected]