Ilyce appeared on WGN's Steve Cochran Show in Chicago recently, and was inundated by listeners who wanted to know how to appeal their property taxes. Here are three steps you shouldn't miss if you want to successfully appeal your property taxes. Q: I heard Ilyce on the radio recently talking about how to lower your property [...]
When you live in a home owned by a family member, transferring the home title from owner to tenant can be complicated. Just because you've been living in a home for an extended period of time and paying the expenses (as in this case), that doesn't make you the homeowner. Q: How do we get the [...]
If you’ve paid off the mortgage, you might be ready to celebrate. Except don’t get too excited: While you’re done with the mortgage, and hopefully your home equity line of credit, you won’t be living in the house for free. Here are four post-mortgage expenses every homeowner has to handle and a few things [...]
Many homeowners face increased property taxes, even as the value of their home has fallen. If you’re one of these homeowners, you’re probably wondering how to lower your property taxes. [Scroll down for video] It takes work, but it can be done. Here are three things you need to do in order to lower your [...]
This story was updated May 11, 2017. Is It Worth It to Appeal Your Property Taxes? A few weeks ago, I got a call from Dan, who was listening to my radio show. He lives in the Atlanta metropolitan area, and his property value has dropped significantly over the past few years. He received a [...]
Some people are lucky and win a house in a raffle. But if they do, they need to know that they will have to pay taxes on the value of the house they have won. The IRS will consider the winnings from the raffle as income, and you'll have to pay income taxes on the value of the house. Most house raffles by individuals are illegal in most states. While in some states charities can raffle off homes and keep the proceeds for their use in one state, charities can work with homeowners to raffle off their homes. There are strict rules and a house raffle may not be much better than trying to auction the home or selling the home using conventional methods.