To help fund local government, Jeremy, as a home owner, must pay
taxes
property taxes. These taxes are levied by the local government on the assessed value of the property owned by Jeremy. The amount of property tax is determined based on the local tax rate set by the government and the assessed value of Jeremy's home.
Here are the steps Jeremy can follow to pay his property taxes:
1. Determine the assessed value of the property: Jeremy can find out the assessed value of his home by contacting the local tax assessor's office or checking the property tax assessment notice sent by the local government.
2. Research the local property tax rate: Jeremy needs to find out the current property tax rate applicable to his area. This information is typically available on the local government's website or can be obtained from the tax assessor's office.
3. Calculate the property tax amount: Multiply the assessed value of the property by the property tax rate to calculate the property tax amount. For example, if Jeremy's home is assessed at $200,000 and the property tax rate is 1.5%, the property tax amount would be $3,000 ($200,000 x 0.015).
4. Determine the due date and payment options: Jeremy should find out the due date for paying the property taxes. This information is usually mentioned on the property tax bill or can be obtained from the local government's website. Additionally, he should explore the various payment options available, such as online payment, mail-in payment, or in-person payment at the tax collector's office.
5. Pay the property taxes: Jeremy needs to make the payment by the due date. He can either make the payment online through the local government's website or mail a check or money order to the designated address mentioned on the property tax bill. If he prefers to make an in-person payment, he can visit the tax collector's office.
6. Keep a record of payment: It is important for Jeremy to keep a record of the property tax payment for future reference. This can include a copy of the payment receipt or a canceled check.
By following these steps, Jeremy can successfully pay his property taxes and fulfill his obligations as a homeowner towards funding the local government.