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Property Tax - Do you pay it on rentals?

Property Tax - Do you pay it on rentals?

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Old Dec 12th 2008, 2:58 pm
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Default Property Tax - Do you pay it on rentals?

Hi folks,
We're heading back up to Connecticut this weekend to look at a few rental homes. We're planning to rent for 6-12months just until we're sure we like the place .

When I'm looking at the rentals price per month, should I assume there is a town or county property tax to add to that or will the owner have that in the rate already? I know obviously its payable if you buy and vary's from town to town and property to property a bit like council tax in the UK.

As always you're input is valued

Happy holidays!
Daz
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Old Dec 12th 2008, 3:02 pm
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Default Re: Property Tax - Do you pay it on rentals?

Originally Posted by lochdaz-of-blantyre
Hi folks,
We're heading back up to Connecticut this weekend to look at a few rental homes. We're planning to rent for 6-12months just until we're sure we like the place .

When I'm looking at the rentals price per month, should I assume there is a town or county property tax to add to that or will the owner have that in the rate already? I know obviously its payable if you buy and vary's from town to town and property to property a bit like council tax in the UK.

As always you're input is valued

Happy holidays!
Daz
It is the owner's responsibility...he/she has already worked it into your rent.
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Old Dec 12th 2008, 3:03 pm
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Default Re: Property Tax - Do you pay it on rentals?

As a pretty standard rule, you do not pay property tax as a renter. We never have paid it, and I don't know anyone who has.

I did hear a rumor once, when I was living in Ohio, that renters would have to pay property tax in a particular county. I never substantiated it, but I suppose that means it could be possible. Use google to find the number for the Property Tax Valuation department for the county you'll be moving to - they should be able answer your q.
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Old Dec 12th 2008, 3:05 pm
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Default Re: Property Tax - Do you pay it on rentals?

Thanks Guys...much appreciated.

Have a nice day! (sorry just trying to "fit right in")

D



Originally Posted by tamms_1965
It is the owner's responsibility...he/she has already worked it into your rent.
Originally Posted by sunflwrgrl13
As a pretty standard rule, you do not pay property tax as a renter. We never have paid it, and I don't know anyone who has.

I did hear a rumor once, when I was living in Ohio, that renters would have to pay property tax in a particular county. I never substantiated it, but I suppose that means it could be possible. Use google to find the number for the Property Tax Valuation department for the county you'll be moving to - they should be able answer your q.
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Old Dec 12th 2008, 4:20 pm
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Default Re: Property Tax - Do you pay it on rentals?

thanks from me as well
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Old Dec 12th 2008, 5:54 pm
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Default Re: Property Tax - Do you pay it on rentals?

On your apartment, no, as others have said.

However, in some states, such as Virginia, there is a property tax on other items, such as a boat or a car. Gets a tad confusing as you usually associate property tax with real estate, but some state governments like to expand the term.
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Old Dec 12th 2008, 6:01 pm
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Default Re: Property Tax - Do you pay it on rentals?

Originally Posted by penguinsix
On your apartment, no, as others have said.

However, in some states, such as Virginia, there is a property tax on other items, such as a boat or a car. Gets a tad confusing as you usually associate property tax with real estate, but some state governments like to expand the term.
If the state you live in is a "commonwealth," I believe you pay tax on luxury items such as boats (and cars).
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Old Dec 13th 2008, 1:30 am
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Default Re: Property Tax - Do you pay it on rentals?

Originally Posted by tamms_1965
If the state you live in is a "commonwealth," I believe you pay tax on luxury items such as boats (and cars).
Has nothing to do with commonwealth status. Commonwealth in this context just means that when they were drafting the constitution for that particular state they got fancy and called it a commonwealth instead of a state.

Also, obligatory note that there's no such thing as county government in Connecticut (the counties serve strictly geographical purposes (and don't even necessarily correspond to court districts), much like the historical counties in England). Property tax is administered by the various cities and towns.
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Old Dec 13th 2008, 12:00 pm
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Default Re: Property Tax - Do you pay it on rentals?

Originally Posted by leviramsey
Has nothing to do with commonwealth status. Commonwealth in this context just means that when they were drafting the constitution for that particular state they got fancy and called it a commonwealth instead of a state.

Also, obligatory note that there's no such thing as county government in Connecticut (the counties serve strictly geographical purposes (and don't even necessarily correspond to court districts), much like the historical counties in England). Property tax is administered by the various cities and towns.
That's not what my grandpa told me...he lived in a commonwealth state and said that's one of the reasons they pay luxury tax.
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Old Dec 13th 2008, 2:08 pm
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Default Re: Property Tax - Do you pay it on rentals?

Failure to pay property tax results in a lien against the property -- so the landlord is never going to allow a renter to pay it directly.

There are so many taxes in the US levied by so many bodies at all the different levels of government, it's impossible to generalize on which other taxes may effect you. Some authorities have a tax on rentals, though again this is levied against the landlord rather than the tenant.
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Old Dec 13th 2008, 3:34 pm
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Default Re: Property Tax - Do you pay it on rentals?

If you did pay property taxes (real estate) last year - you may claim for an increase in your standard deduction on your tax return - upto $1000 if filing married.. $500 if single. (only for people who don't itemize).
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Old Dec 13th 2008, 4:23 pm
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Default Re: Property Tax - Do you pay it on rentals?

Originally Posted by sambapink
If you did pay property taxes (real estate) last year - you may claim for an increase in your standard deduction on your tax return - upto $1000 if filing married.. $500 if single. (only for people who don't itemize).
It's Saturday - stop thinking about work and eat some birthday cake.
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Old Dec 13th 2008, 5:05 pm
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Default Re: Property Tax - Do you pay it on rentals?

Originally Posted by Bill_S
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Old Dec 13th 2008, 8:15 pm
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Default Re: Property Tax - Do you pay it on rentals?

Originally Posted by sambapink
If you did pay property taxes (real estate) last year - you may claim for an increase in your standard deduction on your tax return - upto $1000 if filing married.. $500 if single. (only for people who don't itemize).
Only if you own said property, so moot in respect to a renter paying them. Which , as has already beebn pointed out, would never happen anyway!
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Old Dec 13th 2008, 9:03 pm
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Default Re: Property Tax - Do you pay it on rentals?

Originally Posted by penguinsix
However, in some states, such as Virginia, there is a property tax on other items, such as a boat or a car. Gets a tad confusing as you usually associate property tax with real estate, but some state governments like to expand the term.
Connecticut levies property tax on their residents for property other than housing, so OP will be liable if they own anything of value (such as a car.)

When I lived there they wouldn't send you any kind of demand notice unless you owned a house. So if you are renting be aware that you are required to pay property tax on the value of your car and any other high-value items that you own, even though they won't bill you.
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