Property taxes are a part of homeownership. In many communities, property taxes are an important source of revenue that pay for services like schools and roads. While property taxes themselves are somewhat ubiquitous, homeowners can have different experiences with property taxes.
The amount paid varies by house and the rate varies by community. In addition, some homeowners pay for their property taxes when they make their monthly mortgage payment as part of a conventional mortgage. Others must pay their property taxes separately.
It's hard to know what to expect when you're buying your first home, but it's important to be prepared for property taxes. Property taxes must be paid, or a lien could be placed on the home. If you're buying your first…
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